Bitcoin is more reliable than fiat money and gold.
The Fed or the monetary system has no measures to reduce inflations as Bitcoin has in the form of halving.
Bitcoin is the Digital gold and at present no gold-backed crypto can share the space with it.
The recent podcast by Robert Kiyosaki featuring cryptoprenuer Robert Breedlove highlights crucial insights about Bitcoin, Fed, and the monetary system. Mr.Kiyosaki’s involvement in Bitcoin lately has sparked interest among crypto community members.
That being said, Mr.Kiyosaki is advocating Bitcoin in his official Podcast by hosting a dedicated show with the CEO and Co-founder of crypto investment firm, Robert Breedlove.
Robert discusses with Robert 🙂
Young People’s Perspective on Bitcoin – Rober Kiyosaki on Bitcoin
Robert Breedlove, CEO, and Co-founder of Parallax Digital, professional service firm specialized in crypto investments and digital securities consulting, had a chat with the host, Robert Kiyosaki. Mr.Breedlove explains the reasons people can consider promoting Bitcoin than fiat or Gold.
He went on to say that Bitcoin is a free market. It separates money from state control. Adding that, he says, ‘therefore, it reduces the inflation’ which is created in the society through the traditional monetary system.
Responding to the question put up by Kiyosaki, how Bitcoin is more reliable than gold, Breedlove explained the five properties ‘Money’ needs to possess. He said the properties include Divisible, Durable, Recognizable, Portable, and Scarce.
And Bitcoin dominates among the fiat and other cryptocurrencies with these properties, says Mr. Breedlove.
Adding to the explanation, Mr.Breedlove said that unlike Gold, Bitcoin cannot be produced as per the requirement. Its supply is limited to 21 million coins. At present, more than 300,000 coins per year are mined which will be reduced to 0.31 coins in the year 2100. Hence it’s absolutely scarce or short in supply.
Dollars Today are Irredeemable – How Can a Government Print So Much Money?
Kiyosaki points out FED printing trillion dollars to stabilize the economy which was almost flattened by the COVID-19 pandemic. With that, he laughs at how can a government print so much money?
Robert Breedlove went a little in history to explain what the FED and the government have been doing until now with the monetary system, in response to his question.
As per Robert, Gold was initially the mode of money in the entire world and as it’s not portable, a redeemable paper currency ‘Dollar’ was created. As time elapsed, Dollar has become the only ‘money’ in the market. Hence, all the banking systems, the interest rates, and all the stuff is nothing but the pyramid scheme built by the FED over the Gold. He said,
“Fed hoarded the free market money and built a pyramid scheme on top of it. (….) Dollars today are irredeemable, government debt token, its the promises made by the government which are never fulfilled”
Kiyosaki Still a Gold Lover
Kiyosaki asked Robert Breedlove on the possible move on the gold-backed cryptos as he is still a Gold Lover. Breedlove elaborates that there is no room for any gold-backed cryptocurrency in the crypto-space until the Digital Gold-Bitcoin has its dominance in the market.
Speaking with Pomp in a previous podcast, Mr.Kiyosaki highlights that investment in real estate and gold may not be the future of finance as the cryptocurrency comes into focus.
In a nutshell, Mr.Kiyosaki and Mr.Breedlove hold the bullish view on Bitcoin and its future. Recently Bitcoin hash rate reached its ‘All-Time High’ of 124 TH/s. This in-turn mark for the possible uptrend in the bitcoin price. That being said, one can wait to witness the Bitcoin Whale as speculated by Robert Breedlove.