In a recent mail On the social media platform
In a recent mail On the social media platform
“Yes. It is possible that Bitcoin is a scam and a Ponzi scheme,” Kiyosaki.
Despite admitting that he is concerned that Bitcoin is potentially a Ponzi scheme, he maintains that it would still be no different from fiat currencies such as the US dollar and the euro.
Kiyosaki has also acknowledged that the price of Bitcoin could eventually hit zero, but has also said that the same applies to fiat currencies.
Still, the financial expert remains bullish on the largest cryptocurrency, recently predicting that the price of the emblematic cryptocurrency could rise to $300,000 in 2024.
According to his latest post, his optimism is due to Metcalfe’s Law, which many see as a value model for Bitcoin. The law, which focuses on network effects, posits that the value of a given network increases with the number of its users. In the context of Bitcoin, proponents of Metcalfe’s Law argue that as more people adopt and use Bitcoin, its value will increase due to the growing network effect.
Kiyosaki predicts that most cryptocurrency tokens leaving the Ethereum platform will die because they lack a strong network. “That would like you to belong to a cell phone network with just you,” Kiyosaki noted.
The businessman affirms that he sees Bitcoin as “the perfect asset at the right time.” Kiyosaki regrets not having bought more Bitcoin sooner at lower prices.
At the time of this publication, the largest cryptocurrency by market capitalization is trading at $70,467, according to CoinGecko. data.
