Bitcoin has been one of the top performing assets in the past few weeks, but a prominent finance educator says the asset could become the fastest horse in the race.
Bitcoin could soon become the fastest horse in the race
According to Robert Kiyosaki, the author of “Rich Dad Poor Dad”, Bitcoin could soon become the “fastest horse” in the financial markets.
“GOLD rose 35% in 2020. S&P only by 3%. Silver is still the best, still 30% below its all-time high. Best because it’s limited in quantity, used in the industry, and affordable even for people on a tight budget. The sleeper is bitcoin. I suspect that it will soon be the fastest horse. “
Already the fastest horse?
There are actually some who think Bitcoin is already the fastest horse in the race. Case in point: the asset has risen by around 70% since the start of the year, outperforming many other asset classes.
Paul Tudor Jones, a multi-billion dollar hedge fund manager valued at over $ 5 billion, wrote in a research note earlier this year that he believes Bitcoin is currently the fastest horse in the race. This related to how the cryptocurrency might react to the current “unorthodox” monetary policy being enforced by central banks around the world:
“Ultimately, the best strategy to maximize profits is to have the fastest horse. Just have the best performer and don’t get engaged to an intellectual side that makes you cry in the performance dust because you thought you were smarter than the market. If I’m forced to forecast, my bet is that it will be Bitcoin. “
Another person who believes Bitcoin is already at the top is Raoul Pal, the executive director of Real Vision. The former head of hedge fund sales at Goldman Sachs said Bitcoin was the only asset to outperform the G4 balance sheet in recent years. He added that, in his opinion, no trade is important other than Bitcoin, and discussed how the asset even outperforms gold.
“In fact, only one asset offset the growth of the G4 balance sheet. There are no stocks, no bonds, no raw materials, no loans, no precious metals, no miners. Only one asset has massively outperformed itself over almost any time horizon: Yup, Bitcoin. My belief rate with Bitcoin is increasing every day. I’ve been irresponsible for a long time. I think now that it might not even be worth owning any other asset as a long-term asset allocation, but that’s a story for another day (I’m still thinking about it). “
Pal believes the cryptocurrency will hit over $ 100,000 over time.
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