In a recent post on the X social media platform, well-known investment guru Robert Kiyosaki, famous for his book “Rich Dad, Poor Dad,” suggested that Bitcoin, the leading cryptocurrency, might be a scam or a Ponzi scheme.
Despite expressing concerns about this possibility, he points out that even if Bitcoin were a Ponzi scheme, it wouldn’t differ much from traditional currencies like the US dollar or the euro.
Robert Kiyosaki Optimistic About Bitcoin’s Future
Q: Are you a Bitcoin Bull?
A. Yes. Bitcoin is the perfect asset at the right time. I love Bitcoin. Wish I had bought more earlier.
Q: Is it possible that Bitcoin is a scam, a Ponzi scheme?
A: Yes. It is possible Bitcoin is a scam and a Ponzi scheme.
Q: Aren’t you…
— Robert Kiyosaki (@theRealKiyosaki) March 26, 2024
Renowned financial expert Robert Kiyosaki acknowledges the possibility of Bitcoin’s price eventually dropping to zero, but he also applies the same possibility to fiat currencies. Despite this, Kiyosaki maintains a bullish outlook on Bitcoin, predicting its price could reach as high as $300,000 in 2024.
Kiyosaki’s optimism is grounded in Metcalfe’s Law, which suggests that the value of a network increases with the number of users. Applied to Bitcoin, this law implies that as more individuals adopt and use the cryptocurrency, its value will rise due to the expanding network effect.
However, Kiyosaki predicts that many cryptocurrency tokens originating from the Ethereum platform may perish due to their weak network. He compares it to being part of a cell phone network with only one user.
Viewing Bitcoin as “the perfect asset at the right time,” Kiyosaki expresses regret for not purchasing more Bitcoin earlier at lower prices. Currently, the largest cryptocurrency by market cap is trading at $70,467, according to CoinGecko data.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
