Despite Bitcoin’s 11% drop to $58,400, “Rich Dad, Poor Dad” author Robert Kiyosaki views it as a buying opportunity.
Bitcoin’s price dropped on Monday, reaching a low of $58,400 on Binance. It has lost 11% of its value since the beginning of the month. Robert Kiyosaki, author of “Rich Dad, Poor Dad,” sees this as a chance to grow his holdings, even though the trend is down.
“Bitcoin is crashing. Most people should sell. I am waiting to buy more,” said Kiyosaki in a recent post on X.
Kiyosaki agreed that many traders could make money when the time was right, but he also said that trading for short-term capital gains is bad for taxes. He likes to buy things and keep them for a long time.
“My strategy is similar to Warren Buffet’s “buy and hold on forever,” Kiyosaki noted, adding that his current priority is to build new businesses rather than actively trading assets.
The well-known author said that people who are scared of Bitcoin crashes should sell their coins and get a steady job when the market goes down.
“If crashes terrify you, sell and hang on tight to your job, which is what most ’employees’ should do,” said Kiyosaki.
The latest Bitcoin crash was partly caused by Mt. Gox’s push to sell. The manager of the now-defunct exchange said on Monday that the company would pay back its debts in July. Under the plan for recovery, creditors will get paid back in Bitcoin and Bitcoin Cash, which is expected to be more than $9 billion.
Even though it fell at first, Bitcoin’s price has since gone up and is now selling at around $61,000, according to CoinGecko.
