What does Rich Dad Poor Dad say about Bitcoin?
Rich Dad Poor Dad author Robert Kiyosaki has advised investors to buy as many bitcoins as they can afford, noting that China is in trouble and this is not the time to buy stocks and bonds. “This is the time to buy real gold, real silver, and as many bitcoin as you can afford,” he stressed.
I expect Bitcoin to be $100K by September 2024," Kiyosaki wrote. The author bought five more Bitcoins in early 2024 during the spot exchange-traded fund (ETF) approvals. He has huge unrealized profits on his position but is still buying more.
The titular "rich dad" is his best friend's father who accumulated wealth due to entrepreneurship and savvy investing, while the "poor dad" is claimed to be Kiyosaki's own father who he says worked hard all his life but never obtained financial security.
Money without financial intelligence is money soon gone. Whenever you feel 'short' or in 'need' of something, give what you want first and it will come back in buckets. That is true for money, a smile, love, friendship. I know it is often the last thing a person may want to do, but it has always worked for me.
Kiyosaki also acknowledged concerns about bitcoin being a scam or a Ponzi scheme. However, he downplayed those fears, arguing that “bitcoin is not any more of a scam or a Ponzi scheme than the U.S. dollar, euro, yen, or any other 'fake' or fiat currency.”
You can relate it to a regular money or stocks. Explain that Bitcoin is regular money that has value and can be used to buy goods and services. It is also similar to stocks because the value fluctuates based on the supply and demand. However, it doesn't give any dividends, unlike Bitcoin.
Over the past few years, Robert Kiyosaki, author of the best-selling personal finance book Rich Dad Poor Dad, has become a strong advocate of Bitcoin (BTC -3.35%) as a potential path to "rich dad" status.
Kiyosaki would recommend owning hard assets like gold and silver, which you can physically touch and represent actual items of value. Kiyosaki also believes in owning income-generating real estate, such as rental properties.
No matter how high the price of Bitcoin goes there will only be 21 million ever. That's why I love Bitcoin." Kiyosaki's main argument in the post revolves around the supply of Bitcoin. With other assets, such as stocks, gold and oil, the supply can constantly change based on market conditions and human involvement.
Kiyosaki's financial and business teachings claims that financial independence can be achieved through passive income. He also claims that wealth cannot be achieved from going to school and obtaining a traditional job.
What is the main point of lesson 4 Rich Dad Poor Dad?
In lesson 4 of “Rich Dad Poor Dad,” the author discusses the concept of “work to learn, not to earn.” He argues that many people focus too much on earning a high salary and not enough on learning valuable skills and gaining knowledge.
The thing I always say to people is this: 'If you avoid failure, you also avoid success. ' The richest people in the world look for and build networks; everyone else looks for work.
Principle #1 – Your house is NOT an asset
Rich Dad Poor Dad says not so fast. He says that having a mortgage payment is actually a liability and NOT an asset. Instead, we should focus on investing in assets that put money in our pockets in order to grow our wealth.
As according to Rich Dad, “The poor and middle-class work for money. The rich have money to work for them.” According to the author, fear and greed lead to ignorance and poverty, the poor and middle-class work for money, and it's important to use one's emotions rather than reasoning with them.
The name "Satoshi Nakamoto" is the pseudonym for the person or people who introduced the concept of Bitcoin in a 2008 paper.1 Nakamoto remained active in the creation of Bitcoin and the blockchain until about 2010 but has not been heard from since.
Cryptocurrencies have no legislated or intrinsic value; they are simply worth what people are willing to pay for them in the market. This is in contrast to national currencies, which get part of their value from being legislated as legal tender.
The Bottom Line. Like all forms of currency, Bitcoin is given value by its users, supply and demand. As long as it maintains the attributes associated with money and there is demand for it, it will remain a means of exchange, a store of value, and another way for investors to speculate, regardless of its monetary value ...
Bitcoin is a digital currency which operates free of any central control or the oversight of banks or governments. Instead it relies on peer-to-peer software and cryptography. operates free of any central control or the oversight of banks or governments.
Bitcoin is a form of digital currency that uses blockchain technology to support transactions between users on a decentralized network. New Bitcoins are created as part of the mining process, as a reward to people whose computer systems help validate transactions. Buying Bitcoin exposes you to a volatile asset class.
The Bottom Line
Bitcoin is a payment that uses virtual currency instead of fiat or physical currency. It uses a blockchain to secure transaction information out of the reach of centralized third parties who traditionally facilitate and regulate transactions.
What does Dave Ramsey think about cryptocurrency?
In fact, he described it as “downright mysterious,” as well as a very volatile investment that could easily rise either 300% in a year or see the bottom drop out. So now it seems that Dave has made it clear to NOT invest in cryptocurrency due to concerns about: it being a volatile asset. lack of regulation.
Bitcoin accounts for more than half of crypto-millionaires fortunes while 72 of the centi-millionaires and six of the crypto-billionaires made their fortunes from trading Bitcoin. However, these fortunes may be at risk, leading to these super-wealthy individuals seeking assistance to protect their digital currencies.
One of the best crypto that can make you rich is Green Bitcoin ($GBTC). This new ERC-20 token will allow investors to earn rewards through its gamified green staking model and by playing an exciting game.
In my opinion, I like to see income coming in from all the asset classes — business, paper assets, commodities and real estate. That's true “diversification” of your assets, and a safety net that's a way of hedging your “bets” in any one investment arena or sector.
Kiyosaki prefers hard assets like silver over financial ones like the U.S. dollar for a number of reasons. He thinks it makes no sense that people cling to cash because it constantly loses value — not in the currency markets but due to inflation and rising deficits.
