Prominent Investor Robert Kiyosaki Hails Bitcoin for Its Rise and Integrity
Robert Kiyosaki, a well-known investor and author of the best-selling book โRich Dad Poor Dad,โ has long been a strong advocate for Bitcoin and commodities like gold and silver. He has been critical of traditional investments and conventional money. This year, Bitcoinโs rapid surge and crossing the $60,000 threshold have given Kiyosaki more reasons to celebrate.
In a recent tweet, Kiyosaki thanked Bitcoin for what he describes as its job of โkicking the fake US dollarโs butt.โ He also praised Bitcoin for bringing integrity back to money, contrasting it with the current monetary system that he considers to be flawed.
Kiyosakiโs Praise for Bitcoinโs Role in Restoring Integrity to Money
Robert Kiyosaki believes that Bitcoin is playing a crucial role in returning integrity to money. He is highly critical of the monetary system that emerged after the abandonment of the Bretton Woods agreement in 1971. This agreement ended the practice of backing national currencies with hard assets like gold. According to Kiyosaki, money arising from the current practices is โfake.โ
Bitcoin, on the other hand, is seen by critics of the post-Bretton Woods world as a better alternative. It has a finite supply and is considered by some to be backed in certain ways.
It is important to note that not all economists agree that the Bretton Woods system was better, and not all critics of the current system advocate for a return to the gold standard.
Bitcoinโs Impressive Price Performance
While the debate about whether Bitcoin can serve as a better form of money continues, there is no denying its exceptional performance in recent months.
- Bitcoin entered a significant rally in the final quarter of 2023 and has seen a 164.79% increase in the last 52 weeks.
- In 2024, Bitcoin has continued to perform well, with a 41.66% increase, excluding a short but significant drop triggered by the approval of the first-ever spot BTC exchange-traded funds (ETFs) in the United States.
- One of the most impressive developments occurred between February 26 and February 28, when Bitcoin surged by over $10,000 in just five days, representing a 21.34% increase.
Bitcoinโs Current Price Surge
The positive momentum for Bitcoin continues as it experienced another surge in the last 24 hours of trading. The price of Bitcoin increased by an additional 5.96%, equivalent to $3,527, during this period.
Hot Take: Bitcoinโs Rise and Kiyosakiโs Optimism
Bitcoinโs ongoing rise and Robert Kiyosakiโs optimism about its potential indicate the growing acceptance and recognition of cryptocurrencies as an alternative form of money. As traditional investments face uncertainties and conventional money undergoes scrutiny, Bitcoin has emerged as a prominent player in the financial landscape.
Kiyosakiโs praise for Bitcoin highlights its perceived ability to bring integrity back to money, addressing concerns about the current monetary system. While opinions may differ on the ideal solution, it is clear that Bitcoinโs performance and increasing adoption are capturing the attention of investors and financial experts alike.
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