The famed New York best-selling author made the headlines on Friday again as he outlined his latest bitcoin purchase, and doubled down on his belief that BTC is (or will eventually) be a better investment option than gold.
It’s worth noting that some of Kiyosaki’s recent statements have caused significant backlash due to a lack of consistency, and some interpreted them as simply false.
Bought 1 More BTC
The author of the Rich Dad, Poor Dad series took it to X to highlight his latest purchase of a whole bitcoin for $67,000. He outlined two major reasons for his decision now:
# 1: Because the Big Print will begin when the US debt crashes the dollar and “The Marxist Fed” begins printing trillions in fake dollars.
#2: The magical 21 millionth Bitcoin is getting close to being mined.
Moreover, he noted that once the last BTC is mined, the cryptocurrency “becomes better than gold.” Now, there are a couple of things we need to address for this statement. First, yes, it might sound as if this moment is close, given the fact that nearly 20 million bitcoins have already been mined.
However, due to the unique way the Bitcoin network works, the last million will be the hardest to mine and will take a long, long time. Probably so long that most of us won’t be here for that pivotal moment.
The incorporation of a halving event that cuts the mining speed in half every roughly four years ensures that the mining of new BTC will gradually decline over time. Consequently, current estimates indicate that the last bitcoin will be mined around 2140. In other words, Kiyosaki will be almost 200 years old at the time (he was born in 1947).
Second, he now says that BTC will become better than gold once the last bitcoin is mined. However, in a post from just a couple of weeks ago, he said he would opt for BTC every time if he had to choose between the two, as by design, there can only be 21 million (no mention of the last bitcoin to be mined).
At What Price Did You Buy?
Again in February, another of his statements led multiple people on X to scratch their heads. He said at the time that he stopped buying BTC at $6,000. However, in many, many other posts, he was bragging about purchasing more bitcoins at prices of well over $100,000.
Naturally, the ever-vigilant crypto community picked up the inconsistency in his words, and the backlash was severe. Nevertheless, there was no response from the famed investor.
The post Kiyosaki Explains Why He Bought More BTC and When Bitcoin Will Become Better Than Gold appeared first on CryptoPotato.
The flipping point between the two investment assets is close, Kiyosaki said. But, it could be a century away in reality. AA News, Crypto News, Bitcoin, Gold, Robert Kiyosaki
This articles is written by : Nermeen Nabil Khear Abdelmalak
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