Robert Kiyosaki is the author of the best-seller book “Rich Dad, Poor Dad.” He is a successful investor and a well-known Gold, Silver, and Bitcoin (BTC) advocate.
In a recent video for The Rich Dad Channel on February 7, Kiyosaki talked to the Bitcoin expert Anthony Pompliano. Particularly, the two investors discussed the properties of Bitcoin as the future of money and a digital version of gold.
At time stamp ‘00:28:40,’ the “Rich Dad” explained how he converted to Bitcoin while owning the biggest gold mine in America in Utah and a silver mine in Argentina.
“The advantage about Bitcoin it doesn’t cost anything to ship (…) one of my biggest expenses being a [gold/silver] miner […] is shipping my gold and silver coins and things like that in security and trucks and (…)I converted over to bitcoin going gez I can save more money just because it’s so fast doesn’t weigh anything I don’t have to package and ship it you know what I mean and and hire special vans and security guards so that’s a big advantage it has so I became a convert to it.”
– Robert Kiyosaki
Could Bitcoin become more valuable than Gold?
In this context, Anthony Pompliano forecasted Bitcoin would become more valuable than gold in the long term. The cryptocurrency investor defended his forecast based on the idea of Bitcoin being some form of “Digital Gold.”
“In my career, anytime that you saw something that was the digital version of an analog asset, the digital version usually ended up becoming worth more than the analog version.”
– Anthony Pompliano
However, it is important to understand that Bitcoin has none of the industrial properties of gold, limiting its demand capacities. Some investors may compare both assets due to BTC’s controlled inflation and a maximum possible supply of 21 million coins.
Kiyosaki agreed with Pompliano’s vision and said he holds 65 BTC, worth nearly $3 million at current prices.
In summary, the renowned author converted to Bitcoin by believing it has similar economic properties to gold while being faster and cheaper to move. Robert Kiyosaki and Anthony Pompliano share a bullish bias on the leading cryptocurrency.
Nevertheless, BTC is a high-volatility asset that is still maturing and is mostly experimental in the finance market. Investors must remain cautious, do their due diligence, and understand the asset they are investing in, with all its properties, threats, and opportunities.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/this-is-why-gold-miner-robert-kiyosaki-converted-to-bitcoin/