Robert Kiyosaki, one of the best-known names in the world of personal finance, announced that he continues to buy Bitcoin despite the decline in the cryptocurrency market.
Kiyosaki, author of the book “Rich Dad Poor Dad,” said in an article on Platform
Kiyosaki argued that his investment decision was driven by two main reasons. First, he said the growing US debt problem was putting considerable pressure on the dollar system. According to the analyst, if the debt crisis worsens, the US Federal Reserve (FED) could inevitably resort to aggressive monetary expansion again and print “trillions of dollars of fiat money”. Kiyosaki believes this scenario would weaken the purchasing power of the dollar and increase demand for alternative assets.
The second reason is based on the supply structure of Bitcoin. Kiyosaki said that with the total supply of Bitcoin limited to 21 million units, the scarcity effect will become more pronounced as the mining process nears its end, saying that when the “21 millionth Bitcoin” is mined, the digital asset could gain a greater advantage over gold.
*This does not constitute investment advice.