Amidst Economists' Skepticism: Why Cryptocurrency Gains Support from Influential Millionaires - COINTURK NEWS
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Amidst Economists’ Skepticism: Why Cryptocurrency Gains Support from Influential Millionaires

10:13 am (200 days ago)
May 19, 2023

A host of economists have positioned themselves against cryptocurrencies, a trend likely to continue. However, once these skeptics truly comprehend it, they unexpectedly become Bitcoin maximalists. Former Bitcoin adversary Michael Saylor serves as a prime example. But is he the only millionaire supporting it? Certainly not. 

Why Should I Buy Cryptocurrency? 

If you’re a reader, you have likely come across “Rich Dad Poor Dad.” Or at least you’ve heard of it. This internationally renowned book dispenses brilliant advice, leading to its translation into numerous languages and augmenting Robert Kiyosaki‘s fame. This financial expert foresees a day when fiat money will become obsolete and genuine currency will reclaim its dominance in the world. According to him, governments are nearing the end of an insurmountable cycle, and that “one day” is definitely approaching. 

Just minutes ago, Kiyosaki took to his social media platform and proclaimed to his hundreds of thousands of followers: 

A SOFT LANDING? A HARD LANDING? Or a CRASH LANDING? I’m predicting a crash landing. I hope I’m wrong, but this is my belief. Corruption is high and the leaders are degenerate. Buy gold, silver, and Bitcoin. It’s still the best insurance against corruption and incompetence.

Gold, Silver, and Bitcoin 

According to Robert Kiyosaki, gold and silver should have remained as the only true money. Today, central banks can print money without backing due to the shift of people towards fiat currency. Our ancestors used gold in their daily lives; transactions were conducted using gold and silver. Because counterfeit versions of these precious metals were easily identifiable, they never had to worry about whether their currency was backed or not, unlike the freshly printed banknotes from ATMs. 

Returning to our topic, Kiyosaki has been stating for a long time in his posts that the Federal Reserve will eventually fail. His constantly reiterated advice is to “accumulate gold and silver to avoid suffering from fake money.” He has long been adding Bitcoin to this advice. This economist, who claims that scarce assets will enhance their power in the future and their value will be better understood, also foresees a bright future for Bitcoin. 

In his recent post, he draws attention to the predicament (from his perspective) the US is in, advising people to buy gold, silver, and Bitcoin. However, we have another question for now. Investors in gold, silver, and Bitcoin are still tracking their pairings in terms of dollars. 

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