Tesla CEO Elon Musk has been on the agenda of the cryptocurrency community for a while. The interest of Musk, which is known with both Bitcoin and Dogecoin, is quite clear.
Tesla took the first concrete step of this interest in the past days and Bitcoin investment attracted a lot of attention. Renowned investor and famous author Robert Kiyosaki, known for his financial self-education book “Rich Dad, Poor Dad”, also evaluated Elon Musk’s decision to allocate about ten percent of Tesla’s cash reserves to Bitcoin.
In a recent tweet, the author of “Rich Dad, Poor Dad” stated that “Elon likes to invest billions in Bitcoin”. Kiyosaki is a well-known supporter of the world’s largest cryptocurrency. Apart from that, they are also keen on silver and gold, though many legacy investors prefer gold (such as Euro Pacific Capital CEO Peter Schiff) over Bitcoin. Kiyosaki, who started his entrepreneurial journey in real estate in the 2008-2009 economic crisis caused by the explosion of the mortgage securities bubble, believes that Bitcoin, silver and gold have great potential in the future. As for silver, Apple expects it to be in greater demand from Tesla and the big pharmaceutical companies. On the other hand, GameStop, Kiyosaki considers it a “fake asset”.
In addition, Peter Schiff, who totally hates Bitcoin, took action to criticize the US “helicopter money” issued by the Fed. He stated that the announced economic recovery of the US was nothing more than “unemployed Americans spending money on Fed pressures to buy products produced by China”. He described the current process as a bubble, not an improvement.
While the crypto community sees the Fed’s continuous dollar printing as a viable environment for Bitcoin, Schiff believes that gold is the only way to protect one’s assets. Among them is the aforementioned Elon Musk case, who decided to bet a huge amount of cash ($ 1.5 billion) on BTC. Thanks to this development, the world’s largest cryptocurrency recently hit an all-time high of $ 48,745.