By Hassan Mehmood (Saudi Arabia)
Bitcoin has gained more popularity and acceptance in the investors’ community since the onset of the Coronavirus pandemic. It has also got praise from prominent names in the equity markets due to its stable position since March-Lows.
A big name in the finance, who is the author of the world-famous book, Rich Dad Poor Dad, in the world acknowledged the high potential of Bitcoin while ignoring real estate and gold. Robert Kiyosaki said:
“I think it’s important, especially for old guys like me, to understand the crypto world because that’s the world that’s coming into view right now and us real estate and gold guys are being phased out.”
Bitcoin is Future
In his talk in the radio show, he said there are old guys, like Warren Buffet, who are still “anti-crypto.” He himself has taken time to buy cryptocurrency, but now, he is now buying Bitcoin, claims in the radio show.
Rich Dad Poor Dad author attracted to the leading digital asset when halving happened earlier this year, and the main reason is the infinite printing of money by central banks.
Also read:Recently, Kiyosaki wrote:
“In May 2020, a historic event cut the daily incoming supply of bitcoin from 1,800 Bitcoin per day to 900 bitcoin per day—a sort of quantitative hardening—opposite of what the Fed is doing by printing trillions of dollars. Central banks, in simplest terms, create money out of nothing. They create ‘fake money’ and loan it to governments. Bitcoin, on the other hand, is completely decentralized meaning that nobody can manipulate the market and there is not any single point of failure.”
Bitcoin to $100,000
Morgan Creek Digital co-founder Anthony Pompliano predicts $100,000 for Bitcoin using the S2F (stock-to-flow) model. Pompliano said:
“Stock-to-flow ratio models, used in the gold world, have been overlaid with bitcoin price movements that have, over time, become more accurate.”
But some in the crypto community have criticized it and claim it is just marketing for Bitcoin. For instance, Nico Cordeiro, the chief investment officer, and fund manager at Strix Leviathan, said:
“The SF paper is not proper empirical analysis, but more akin to a marketing piece in which the author is trying to convince readers that bitcoin is going to be worth a lot more tomorrow.”
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