‘Rich Dad, Poor Dad’ Author Suggests Bitcoin Could Be a Scam, But Doesn’t Dismiss Its Potential
Robert Kiyosaki, best known for his book “Rich Dad, Poor Dad” has voiced his support for Bitcoin once again. On March 26, he described Bitcoin as “the perfect asset at the right time” but noted that it could also be a scam or a Ponzi scheme.
The New York Times best-selling author, who has maintained a bullish stance on Bitcoin over the years, clarified that the potential of a Bitcoin scam is no more than any other fiat currency, including the US Dollar.
Kiyosaki shared his concerns in an X post, arguing that Bitcoin could be a Ponzi scheme that might fall to zero. According to him, Bitcoin has the same tendency to depreciate as fiat currencies.
Q: Are you a Bitcoin Bull?
A. Yes. Bitcoin is the perfect asset at the right time. I love Bitcoin. Wish I had bought more earlier.
Q: Is it possible that Bitcoin is a scam, a Ponzi scheme?
A: Yes. It is possible Bitcoin is a scam and a Ponzi scheme.
Q: Aren’t you…
— Robert Kiyosaki (@theRealKiyosaki) March 26, 2024
The author affirmed his undeterred support for Bitcoin by likening his optimism about the crypto asset to Metcalfe’s Law, a rule that states that the value of a network increases with the square of the number of its users.
In this instance, the “number of users” in the law are retail and institutional traders who use and adopt Bitcoin, making its network valuable.
It could be recalled that Robert Kiyosaki had predicted the price of Bitcoin to scale as high as $100,000 by the end of 2024.
BITCOIN on fire. The biggest mistake you can make is to procrastinate. Important to start, even if only for $500. Next stop $300,000 per BC in 2024
— Robert Kiyosaki (@theRealKiyosaki) March 6, 2024
Meanwhile, the concerns and optimism for Bitcoin came in the wake of his recent announcement he
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