Robert Kiyosaki Talks With Anthony Pompliano on Why Bitcoin Will Explode
The author of the wildly popular Rich Dad series Robert Kiyosaki on his Rich Dad radio show spoke with Anthony Pompliano recently. Kiyosaki and Anthony spoke at length on the various issues that concern the cryptospace.
Kiyosaki spoke about the need for the older generation to understand the cryptoworld. He called Gold and Silver "God's money". Robert also called Cryptocurrencies "People's money".
Anthony spoke about the fact that precious metal investors and cryptocurrency investors agree on most of the problems. He alluded to the fact that both precious metals and cryptocurrencies adhere to sound money principles.
According to Pompliano, Gold has a 5,000-year track record while Bitcoin has been around for 11 years. He also indicated that the "transparency and the verifiability of Bitcoin" is the cryptocurrency's advantage.
The great thing is that both precious metals and cryptocurrencies will do well once the current financial crisis is over. At least that's what Anthony thinks.
The printing of unlimited money by central banks has been an issue. So much so that the printing of millions has now reached trillions. Robert Kiyosaki alluded to this fact. Anthony replied by indicating that the US economy is addicted to stimulus "in the same way that a crack addict is addicted to crack". He indicated that this occurred when the US government wanted to undergo quantitative tightening in 2018.
According to Anthony, there are only two tools available to the Fed when there are recessions. Interest rates and quantitative easing. Anthony also indicated that the interest rates have gone to zero. Printing money has now become the only option left.
Robert pointed out to a unique occurrence. As the US government prints more money, the amount of Bitcoin available is reducing. Pompliano concurred and said that this "quantitative hardening" is occurring programmatically with Bitcoins.
There are only 21 million Bitcoins available. Anthony pointed out the fact that there are only 900 Bitcoins a day entering into the Bitcoin ecosystem.
Anthony referred to an "artificially capped supply of Bitcoins that is getting harder and harder to get". As such, Bitcoin's value will go up.
Bitcoin and the other cryptocurrencies are programmatic. Anthony alluded to this saying that "in this world, nobody can manipulate the market".
This spills over into decisions concerning the Bitcoin blockchain. Anthony indicated that Bitcoin's code can't be changed on the blockchain unless more than 50% of the participants agree.
This is what gives Bitcoin its power of decentralization. Anthony also said, "Bitcoin is the separation of state and money". He alluded to the fact that this is the first time that this is occurring outside Gold.
Anthony predicted that all currencies will now become digital. The technology though will be the same. It is only when it comes to monetary policy that everyone will compete differently. He also indicated that corporations will also issue their cryptocurrencies.
As for the altcoins, Anthony indicated that only a small number of other cryptocurrencies were trying to be money. Pompliano also said that Bitcoin is the only cryptocurrency that matters. The reasons for this are simple. Bitcoin has no owner. It is fully decentralized and programmatic.
As for predictions, Pompliano said that "I am on the record [for] publicly saying that I think that Bitcoin will be worth over $100,00 by the end of 2021".
Such a scenario will be dependent on the volatility and price movements. These are a strategic advantage for long-term investors. In the cryptospace the term for these guys is Hodlers. This could be the price level that the mass adoption of Bitcoin could occur.
