Renowned best-selling author Rich Dad Poor Dad, Robert Kiyosaki, has stated in no uncertain terms that he believes there is a “very bright future” for Bitcoin.
Kiyosaki promotes Bitcoin and criticizes the Fed
Hooray. Bitcoin rising above $60,000. Future very bright. Celebrate yet be cautious. I am waiting for a pull back before investing more.
— therealkiyosaki (@theRealKiyosaki) October 15, 2021
Kiyosaki rejoiced that the price of Bitcoin had passed the $60,000 mark, but urged caution in celebrating.
He made it clear that he is waiting for the price to fall before investing further.
Right now, the price could also go up, but given that it has already risen 50% from its September lows, it is worth being extra cautious.
However, Kiyosaki also said that he loves Bitcoin because he doesn’t trust the Fed, the Treasury or Wall Street.
I love Bitcoin because I do not trust Fed, Treasury, or Wall Street.
— therealkiyosaki (@theRealKiyosaki) October 15, 2021
The key point is that Bitcoin is trustless: its protocol is public and virtually inviolable, so it doesn’t rely on the promises of someone who could always decide to break them at some point.
Bitcoin doesn’t promise, but it actually guarantees that everything will turn out as expected, as long as the protocol continues to function properly. Moreover, in more than a decade of its existence, no one has ever managed to crack it, so to date the possibility that it might malfunction in the future is so unlikely as to be commonly considered irrelevant.
Kiyosaki sees governments as unreliable in evaluating cryptocurrencies
Central banks, governments and the operators of centralized financial asset trading platforms do not rely on inviolable computer-mathematical algorithms, but on the behaviour of fickle people.
The Fed can only be trusted to a certain extent, and given that in recent months it has always claimed that high inflation would only be temporary, even though it has been above 5% for five months, it would still be better not to do so, according to Kiyosaki.
The government is even less trustworthy than the central bank, since it is largely made up of politicians who are often used to lying through their teeth.
Even in the financial markets, as evidenced by cases of colossal scams such as Bernie Madoff’s, it would be better not to place much trust, while Bitcoin continues to do only what it was programmed to do.
It is not hard to imagine why Kiyosaki sees a bright future for Bitcoin, while doubting the good faith of public institutions like central banks and governments.
The post Kiyosaki: Bitcoin has a very bright future appeared first on The Cryptonomist.
