Kiyosaki considers that gold and silver are the money that God created and that Bitcoin is the money of people. Pompliano believes that there will not be competition between types of money but between monetary policies.
Morgan Creek Digital co-founder Anthony Pompliano spoke with renowned financial writer and lecturer Robert Kiyosaki on “The Rich Dad Radio Show”, which the latter hosts. In the conversation, they agreed that all the money of the future will be digital, but Bitcoin will continue to have advantages.
Digital money, Pompliano explained, is faster and cheaper to produce than paper money. He believes that in the future there will not be competition between digital and non-digital currencies but between monetary policies. When the US dollar becomes digital, its monetary policy will continue to be inflationary. However, Bitcoin will continue its predefined issuance program.
For his part, the author of “Rich Dad, Poor Dad” said that the current banking system, which the US Federal Reserve made centralized and controlled by the government, is “communist”. On the contrary, he stressed that the State does not control Bitcoin, gold, or silver. He explained that this reason leads him to promote them.
It is not the first time that Kiyosaki has expressed himself in these terms. In April, he said that humanity is undergoing the worst crisis in history and that Bitcoin is a good alternative to the centralized system.
Furthermore, in his conversation with Pompliano, Kiyosaki said that he considers gold and silver as the money that God created while Bitcoin is the money of people. Its pre-established issuance policy, unlike that of fiat currencies, leads him to think in that way.
Pompliano and Kiyosaki agreed that Bitcoin, as well as gold and silver, has solid fundamentals. The former also thinks that Bitcoin has advantages over the two precious metals as it is transparent and verifiable since it is possible to know the existing amount, the amount issued each day, and the amount that will exist in total.
Pompliano mentioned that the asset that people use as a haven may vary due to generational issues. However, it must have sound monetary principles, which he believes that the US dollar does not have.
Besides, he lamented that most people do not understand how money works. He said that if they did, they would know that the US dollar will become less valuable over time due to its constant issuance. Instead, he explained that Bitcoin has the opposite policy and should become more valuable over the years.
The renowned bitcoiner was more accurate on this subject and remained firm to a prediction that he had made one year ago. He said that he believed that Bitcoin would be worth more than USD 100,000 by the end of 2021. However, he reminded listeners that any investment has risks and invited them to do their research.
Kiyosaki consulted him about the new cryptocurrencies that emerge every day, to which Pompliano explained that only a small number of them purport to be money. Instead, he said that most of them seek to use blockchain technology in very strange ways.
For this reason and the fact that it is the first decentralized, ownerless, transparent currency with a predefined issuance, he still believes in Bitcoin’s superiority. He stated that there will never be a separation between money and state if Bitcoin is not successful.
By Alexander Salazar
