Robert Kiyosaki, the author of the popular Rich Dad Poor Dad, is not afraid of market crashes. Instead, he sees it as a buy-the-dip opportunity. This approach is particularly evident from his latest purchase of 1 BTC at $67,000, despite the cryptocurrency’s sharp decline. Is this a smart move?
Robert Kiyosaki Explains His Smart Bitcoin Buy
In an X post earlier today, Rich Dad Poor Dad author Robert Kiyosaki unveiled his latest Bitcoin purchase amid the market crash. He bought one whole Bitcoin at $67,000, contributing to his stash.
The post also shed light on the two key reasons for his latest Bitcoin buy. Reiterating his previous stance, Robert Kiyosaki noted that the first reason is his concern about the US debt and the Federal Reserve. He believes that the Fed will start printing trillions of “fake dollars” when the US debt triggers a dollar crash. This, according to him, could further weaken the fiat currency.
The second reason Kiyosaki cited is the scarcity of BTC. He believes that as the cryptocurrency moves closer to its final mining, the scarcity could make the coin more valuable than ever. BTC has a fixed supply of 21 coins. Now, more than 19 million have already been mined. When the final coins are mined, Bitcoin’s limited supply could push the prices to unprecedented heights, stated Robert Kiyosaki. His post read,
His statement echoes his earlier view that Kiyosaki isn’t concerned with Bitcoin’s short-term performance and focuses instead on a long-term strategy. As CoinGape reported, Kiyosaki believes that the short-term fluctuations are driven by macroeconomic and geopolitical pressures, but they will not hamper its long-term growth.
An Imminent Market Crash Ahead?
Robert Kiyosaki’s latest Bitcoin purchase comes on the heels of his recent prediction of a major stock crash. It wasn’t a fresh prophecy, but he was reminding his followers about the projection he made in 2013 in his book, Rich Dad Poor Dad.
Now, Robert Kiyosaki believes that the crash is near. He urged investors to shift their focus to Bitcoin, Ethereum, gold, and silver, the assets he believes could act as a hedge. He believes that these assets, including BTC, could rise amid the stock market crash.
At the same time, crypto critics like Peter Schiff claim that a Bitcoin crash is imminent. He stated that the crypto’s fall below the $50k mark could trigger a severe debacle. Urging investors to sell their BTC holdings, Schiff reiterated his skeptical approach to crypto.
Source: https://coingape.com/robert-kiyosaki-reveals-why-he-bought-bitcoin-at-67k/
