Invest on things that are not Scarce
I was watching some of the videos of Robert Kiyosaki. This has been my thing for nearly two weeks now and I have been watching many videos where he talks a lot about making money and investing on something that would become an asset instead of a liability. There are so many lessons someone can take from his book Rich Dad Poor Dad but apart from that he is also giving a lot of sessions on YouTube videos where he talks about making the right investment.
Investing on Bitcoin
Scarcity is one of the biggest reasons that gives Bitcoin its value in spite of so many other investment opportunities available. I have learned from Robert's Youtube videos that he keeps saying that people can make money by printing them but they cannot artificially prepare Gold Silver or Bitcoin. This is what investment is all about and we should be investing only on them to increase the value of our investment.
There is only a total of 21 million bitcoins available in this world and the demand is increasing little by little gradually increasing the value of Bitcoin. There are also many Bitcoins that are going out of supply and at the same time new Bitcoins cannot be printed like how we print dollars. This is what makes it most valuable and makes people invest in them.
Investing in Precious metals
I call Gold and Silver precious metals because here again the same concept applies where if the government wants to they can print more money but they cannot create more Gold or more Silver. So far this was the main selling point and in the last few decades, we are able to see how the price of Gold and Silver has changed. In the coming years, it can change even further and reach a more better value.
If we save money, it is just paper notes and when more money is printed, the money that we hold can lose its value but that doesn't happen with Gold or Silver. The only way it can go low is when there are more Gold mines found and when it becomes more abundant which is very unlikely.
Why Bitcoin and not Gold
Bitcoin is a better investment compared to Gold because there is a high chance that someone can find a big gold mine in the earth's crust. The reason is that we still have not explored several parts of the world and there are still places where human feet have not touched the land. Maybe if we start exploring these places, we might find out that Gold is available and other precious things too. So this can temporarily bring the price of Gold down.
This is not the case with Bitcoin. We don't have more than 21k bitcoins in total. This gives a huge opportunity where when more people come and purchase Bitcoin, it would create a huge demand and if someone wants to, they can book a lot of profits.
I personally would say that both are good investments and some people insist that silver metal is going to be the next bigger precious thing that would have more value in the future. We should be ready for anything if we want to be rich and invest in everything.
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