'Rich Dad Poor Dad’ Author Kiyosaki Reacts to Bitcoin's All-Time High With Advice and Warning
12/17/2024 19:43Robert Kiyosaki of 'Rich Dad Poor Dad’ claims even satoshis can make you rich as price of major cryptocurrency Bitcoin reaches new all-time high
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The price of major cryptocurrency Bitcoin (BTC) continues its relentless march upward, updating historic highs one by one and periodically dropping latecomers and overly greedy traders with bloody multi-billion dollar avalanches of liquidations. The fact is, however, that so far the "numbers are going up."
Thus, Robert Kiyosaki, the famous financial motivator and author of the bestseller "Rich Dad Poor Dad," touched upon the topic of BTC's performance in his new post. In his post, Kiyosaki argues that as the price of Bitcoin rises, it becomes clear that the rich are getting even richer, as probably less than one in eight million people could write a check for $106,000 on the spot.
Does this mean that only the rich who can afford the full Bitcoin in cash will get richer, the author asks. And when the price of Bitcoin goes higher? No, of course not, argues Kiyosaki.
— Robert Kiyosaki (@theRealKiyosaki) December 17, 2024YAY: BITCOIN holding above $106k. YAY again.
The rich get richer. Unfortunately I am guessing…. Fewer than 1 out of 8 million indiviuals can write a check for $106 k. Does that mean only the rich who have $106 in cash will get richer…as Bitcoins price soars higher? No. Of…
That, in his opinion, is the genius of Bitcoin. Even though all a person can afford is half a satoshi, the smallest division of BTC, the cryptocurrency's design is democratic and allows even people who cannot write a check for the full $106,000 dollars to have an equal opportunity to get richer and richer as those who can write a check for $106,000.
“The lesson ... Bitcoin is democratic... pure design genius...” Kiyosaki reflects, however, he immediately warns not to delay and start getting richer today, namely at least start buying satoshis, which themselves, according to the author, can one day reach a price of $106,000.
While many may take this advice as they wish and either follow Kiyosaki or reject him, it is difficult to argue with the fact that Bitcoin's design is brilliant, with the ability to buy even one ten-thousandth of a piece.