Advertisement
AD

Main navigation

'Rich Dad Poor Dad' Author Endorses Major Asset He Bets On Aside from Bitcoin

Advertisement
Wed, 20/03/2024 - 11:57
'Rich Dad Poor Dad' Author Endorses Major Asset He Bets On Aside from Bitcoin
Cover image via www.youtube.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents
Advertisement

Robert Kiyosaki is a vocal Bitcoin advocate. He is also famous as the author of the popular book “Rich Dad Poor Dad” and runs a company of the same name that educates people on financial literacy.

While Kiyosaki often endorses Bitcoin in his tweets, this time he mentioned an asset that he also holds along with Bitcoin – silver.

Elon Musk's Tesla bets on silver, Kiyosaki stresses

Robert Kiyosaki reminded the audience that silver is currently trading approximately 60% below its all-time high ($48 per troy ounce back in 2011), and the demand for it continues to soar. The financial expert pointed out that silver is not only a precious metal but also has broad industrial use.

Kiyosaki shared that recently the e-car making giant Tesla, run by Elon Musk, has acquired rights to several mines so as to use silver extracted from them to make Tesla electric vehicles. Tesla also holds Bitcoin and accepts DOGE.

Since silver is cheap enough, Kiyosaki stated that “almost everyone in the world can afford one silver coin,” hinting that it is time to buy more silver now.

Related

Here's why Kiyosaki prefers Bitcoin to gold

Aside from Bitcoin and silver, Kiyosaki frequently mentions gold, talking about it and BTC as safe-haven assets, which are both important in the current state of the U.S. economy. In a recent tweet of his, the financial and investment expert talked about Bitcoin, silver and gold. While he pointed out that he owns all three and also other assets, such as oil wells, all of these assets have one major drawback compared to Bitcoin.

When gold, silver or oil increase in price, there is always more of them to mine, and their deposits on the planet still unextracted are vast, whereas there is only a 21 million Bitcoin supply and not a single coin exceeding that number set programmatically. By now, more than 19 million BTC have already been produced by miners.

Currently, Bitcoin ETFs have been consuming all BTC within their reach on the market, and the upcoming halving will cut down the daily produced Bitcoin stash from 900 to 450 BTC, creating a clash of supply shock with demand shock.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD