Bitcoin: The Fastest Horse In The Race?
Rich Dad Poor Dad author believes Bitcoin is going to become the “fastest horse” in financial markets and I don’t think he’s wrong, one bit (or satoshi ***), other than one big fact that it could be easily argued it already is:
“Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”
“GOLD is up 35% in 2020. S&P only 3%. Silver is still the best, still 30% below all time high. Best because it is limited in quantity, used in industry and still affordable for those with tight budgets. The sleeper is Bitcoin. I suspect it is about to become the fastest horse.”
Already the Fastest Horse?
There are some, actually, that think Bitcoin is already the fastest horse in the race. Case in point: the asset is up by approximately 70% since the start of the year, outpacing a swath of other asset classes.
Paul Tudor Jones, a billionaire hedge fund manager worth over $5 billion, wrote in a research note earlier this year that he thinks Bitcoin is the fastest horse in the race at the moment. This was in reference to how the cryptocurrency may react to the current “unorthodox” monetary policies being enforced by central banks around the world:
“At the end of the day, the best profit-maximizing strategy is to own the fastest horse. Just own the best performer and not get wed to an intellectual side that might leave you weeping in the performance dust because you thought you were smarter than the market. If I am forced to forecast, my bet is it will be Bitcoin.”