Bitcoin's Kiyosaki Boost: Challenging Dollar Dominance
1min read Robert Kiyosaki, renowned author of "Rich Dad Poor Dad," has recently expressed his bullish stance on Bitcoin, predicting that the cryptocurrency will challenge the dominance of the U.S. dollar. In a series of tweets, Kiyosaki highlighted two key economic principles that support his prediction: Gresham's Law and Metcalfe's Law.
Gresham's Law, a principle in monetary economics, states that "when bad money enters a system, good money goes into hiding." According to Kiyosaki, this concept has played out for years with precious metals like gold and silver, which have long been overshadowed by what he describes as "fake" US dollars. Now, he argues that Bitcoin has joined gold and silver as modern-day "good money," forcing the fake US dollar into hiding.
The second law Kiyosaki referenced was Metcalfe's Law, which suggests that a network's value is proportional to the square of its number of users. Drawing parallels to successful business models like McDonald's and his own Rich Dad company, Kiyosaki suggested that Bitcoin's network effect would contribute to its growing influence in the global financial system.
Kiyosaki's comments come amid broader discussions about monetary policy and inflation concerns. He advised his followers to protect themselves against inflation by saving in what he considers "real assets" – gold, silver, and Bitcoin – rather than holding dollars. The financial educator's statements align with growing institutional interest in Bitcoin as a potential hedge against inflation.
Meanwhile, Goldman Sachs CEO David Solomon recently reaffirmed his stance on the U.S. dollar's dominance, labeling Bitcoin as a speculative asset rather than a threat to global financial stability. Despite this skepticism, Bitcoin's market momentum remained notable, with prices trading at $104,731.34 at press time, following a modest 0.06% increase in the last 24 hours.
President Donald Trump's executive order to create a U.S. digital assets stockpile could further push Bitcoin's position, as it signals potential government backing. Reports from Arkham revealed that the U.S. government currently holds around 198,000 BTC, valued at $20.71 billion.
