It’s not the price of bitcoin - it’s how much you have

It’s not the price of bitcoin - it’s how much you have

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Robert Kiyosaki recently tweeted on X that asking the price of bitcoin was a “silly question”, saying that it was more important how many Bitcoins you had.

Buy gold, silver, and Bitcoin

Robert Kiyosaki is known for saying things as he thinks they are, and is never one to hold back if he believes in something strongly. The billionaire entrepreneur recently tweeted on X that he thinks “America is broke” and asked the question: “How many Bitcoins do you have today?”

The author of the bestselling book “Rich Dad Poor Dad” has backed Bitcoin for some time now. He says that “Bitcoin is a bargain today… but not tomorrow”. He includes gold and silver as real, hard assets to buy as well, probably given that they are traditional stores of wealth in difficult times.

Precious metal price suppression

In fact, many believe that both gold and silver have suffered from price suppression over decades. Several commercial banks have managed short positions on the COMEX. Some analysts maintain that If price gets to certain levels the big banks smack the price down by heavy selling, and then buy up the metals at bargain prices, rinsing and repeating over many years.

The use of the futures paper market enables this kind of behaviour, keeping gold and silver prices down. The question might be asked “if gold and silver were open to free market forces, how much might their prices rise, and fiat currencies fall against them?”

Kiyosaki may be right when he says that the prices of gold, silver and Bitcoin will go up though, looking into next year as the Federal Reserve could be forced to start cutting rates as the economy potentially moves into recession and perhaps much worse.

CBDCs are getting closer

However, Central Bank Digital Currencies (CBDCs) are a major concern. If enough governments are able to inflict these digital forms of payment on their citizenry they could also program them to stop people from buying gold, silver, and Bitcoin with them.

In fact, they could be used to stop citizens from buying all sorts of things that the government may not like. A time limit could be put on spending before funds disappear, and a social credit system could be factored into everyone’s wallets, perhaps similar to what is in force in China.

Robert Kiyosaki said earlier this week on X “Crypto is the future. Fiat…a.k.a. FAKE money is toast.” He could be right, but with Citi Bank recently converting customer deposits into tokens, CBDCs are only a short step away.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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