Famous investor and author Robert Kiyosaki said on Monday that he was eagerly waiting to buy more Bitcoin after the assetâs price fell to $61,000 to start the day.
This actually happened later on during the day, as BTC fell to a multi-month low of $58,500.
The man behind the best-selling finance book Rich Dad Poor Dad asserted that selling in times of market turmoil is a sign of an âemployeeâ mentality â one that he does not share.
âBitcoin is crashing. Most people should sell. I am waiting to buy more,â Kiyosaki wrote to Twitter. âIf crashes terrify you, sell and hang on tight to your job, which is what most âemployeesâ should do.â
Kiyosaki has praised Bitcoin repeatedly for being a scarce and finite asset similar to precious metals like gold and silver, making it resistant to the inflationary pressure of fiat currencies like the dollar.
Back in March, Kiyosaki told followers that government bonds are the âbiggest lieâ that financial planners sell to ordinary investors as âsafe investmentsâ while calling gold, silver, and Bitcoin âreal assetsâ that are ready to explode. Earlier this month, Kiyosaki called for Bitcoin to reach $350,000 per coin by August 2024 on the back of irresponsible monetary and fiscal policy.
Kiyosaki acknowledged that many people prefer to trade on Bitcoinâs short-term volatility, but said he isnât one of those people.
Bitcoin began its Monday decline following news that Mt. Gox would begin returning its customersâ BTC next month after nearly ten years of insolvency. The 141,686 BTC gathered by the rehabilitation trustee is now worth over $8 billion, giving some Bitcoin holders concern that Mt. Gox customers could flood the market with sell pressure upon repayment.
The price further consolidated to under $59,000 on Monday, with BTC seeing more pronounced gains than even many altcoins. According to CoinGlass, thereâs been over $373 million in crypto market liquidations over the past 24 hours.
Millionaire crypto trader Andrew Kang predicted on Sunday that Bitcoin was likely due for extreme corrections over the coming months before later ripping to new highs by 2025.
The post Robert Kiyosaki Says Heâs Waiting to Buy The Bitcoin Dip appeared first on CryptoPotato.
This actually happened later on during the day, as BTC fell to a multi-month low of $58,500.
But The Bitcoin Dip, Says Robert Kiyosaki
The man behind the best-selling finance book Rich Dad Poor Dad asserted that selling in times of market turmoil is a sign of an âemployeeâ mentality â one that he does not share.
âBitcoin is crashing. Most people should sell. I am waiting to buy more,â Kiyosaki wrote to Twitter. âIf crashes terrify you, sell and hang on tight to your job, which is what most âemployeesâ should do.â
Kiyosaki has praised Bitcoin repeatedly for being a scarce and finite asset similar to precious metals like gold and silver, making it resistant to the inflationary pressure of fiat currencies like the dollar.
Back in March, Kiyosaki told followers that government bonds are the âbiggest lieâ that financial planners sell to ordinary investors as âsafe investmentsâ while calling gold, silver, and Bitcoin âreal assetsâ that are ready to explode. Earlier this month, Kiyosaki called for Bitcoin to reach $350,000 per coin by August 2024 on the back of irresponsible monetary and fiscal policy.
Kiyosaki acknowledged that many people prefer to trade on Bitcoinâs short-term volatility, but said he isnât one of those people.
âThe problem with âtradingâ any asset is taxes, specifically âshort termâ capital gains taxes,â he said on Monday. âMy strategy is similar to Warren Buffetâs âbuy and hold on forever.â
âSimply said entrepreneurs and employees are opposite sides of the same coin,â he concluded. âTake care. Rough times ahead. Do what is best for you.â
Bitcoinâs Fierce Correction
Bitcoin began its Monday decline following news that Mt. Gox would begin returning its customersâ BTC next month after nearly ten years of insolvency. The 141,686 BTC gathered by the rehabilitation trustee is now worth over $8 billion, giving some Bitcoin holders concern that Mt. Gox customers could flood the market with sell pressure upon repayment.
The price further consolidated to under $59,000 on Monday, with BTC seeing more pronounced gains than even many altcoins. According to CoinGlass, thereâs been over $373 million in crypto market liquidations over the past 24 hours.
Millionaire crypto trader Andrew Kang predicted on Sunday that Bitcoin was likely due for extreme corrections over the coming months before later ripping to new highs by 2025.
The post Robert Kiyosaki Says Heâs Waiting to Buy The Bitcoin Dip appeared first on CryptoPotato.