R. Kiyosaki: Bitcoin will become priceless when CBDC enters markets
Robert Kiyosaki, the author of the best-selling personal finance book "Rich Dad Poor Dad," has predicted that Bitcoin will become "priceless" when central bank digital currencies (CBDCs) enter the market.
Kiyosaki believes that CBDCs will erode privacy and increase government surveillance. He also believes that they will be used to track and control citizens' spending. As a result, he believes that people will flock to Bitcoin and other decentralized cryptocurrencies as a way to protect their wealth and freedom.
Kiyosaki's prediction is based on the following assumptions:
CBDCs will be controlled by central banks, which will give them the power to track and control citizens' spending.
CBDCs will be programmable, meaning that governments will be able to restrict how they can be used.
CBDCs will be used to implement negative interest rates, which will punish people for holding cash.
Kiyosaki believes that these factors will make Bitcoin and other decentralized cryptocurrencies more attractive to investors. He has urged his followers to buy Bitcoin and other cryptocurrencies "now before it's too late."
It is important to note that Kiyosaki is a controversial figure and his predictions are not always accurate. However, his prediction that Bitcoin could become "priceless" in a CBDC world is worth considering.
Here are some of the reasons why Bitcoin could become more valuable in a CBDC world:
Privacy: Bitcoin is a decentralized currency that is not controlled by any government or central bank. This means that Bitcoin transactions cannot be tracked or censored. This could be appealing to people who are concerned about their privacy in a world where CBDCs are used to track and control citizens' spending.
Freedom: Bitcoin is a global currency that can be used to send and receive money without borders. This could be appealing to people who want to escape the control of their own governments.
Scarcity: Bitcoin is a limited resource, with only 21 million coins ever to be mined. This scarcity could make Bitcoin more valuable in a world where CBDCs are being printed in large quantities.
Of course, it is also possible that Bitcoin could lose value in a CBDC world. For example, if CBDCs are widely adopted and used to settle all transactions, Bitcoin could become less relevant. Additionally, if governments implement negative interest rates on CBDCs, this could make Bitcoin less attractive as a store of value.
Overall, it is too early to say definitively whether Bitcoin will become "priceless" in a CBDC world. However, it is a possibility that investors should consider.