The price of Bitcoin (BTC) has recently plunged significantly and despite this trend, Author of “Rich Dad Poor Dad” Robert Kiyosaki has shared a more bullish take on the coin.
Robert Kiyosaki to Buy More Bitcoin
According to price data from CoinMarketCap, BTC was trading at $61,265.94 at the time of this writing following a 4.53% drop in the last 24 hours. Within the last seven days, the coin has dropped by over 15%, sparking concerns amongst crypto proponents.
This Bitcoin downtrend will likely see two groups of investors. These include those who may seize the opportunity to buy Bitcoin and those who might chose to sell their holdings.
Robert Kiyosaki says he would rather be part of the first category that would leverage a price dip to boost their Bitcoin holdings. The businessman acknowledged that all businesses go sideways all the time. Bearing this in mind, Kiyosaki mentioned that he is waiting to buy more Bitcoin. After buying, he plans to hold on to his assets “forever,” similar to Warren Buffet’s strategy.
Bitcoin is crashing. Most people should sell. I am waiting to buy more.All markets go up and down. Many people make a lot of money “trading”markets which means buying low and hopefully selling low. The problem with “trading” any asset is taxes, specifically “short term”…
— Robert Kiyosaki (@theRealKiyosaki) June 24, 2024
“If crashes terrify you, sell and hang on tight to your job, which is what most “employees” should do,” the renowned author wrote on X. “Simply said entrepreneurs and employees are opposite sides of the same coin.
BTC Interest Not Fading Forever
Kiyosaki’s statement does not come off as a surprise considering how vocal he is about his affection towards Bitcoin. His latest post comes only about 1 week after he admonished people who claimed that Bitcoin is expensive. He even went as far as drawing insights from his “Rich Dad, Poor Dad” best-selling publication, urging more purchases and investment in the cryptocurrency.
“Your profit is made when you buy Not when you sell,” says the lesson from his book.
The serial entrepreneur strongly believes that the coin is not as high as it’s going to go. Therefore, his advise for such potential investors was that they buy a little of what they can afford and keep buying. Today’s X post further cements his position on buying and hodling Bitcoin no matter the price.
The broad crypto industry is hopeful that Bitcoin will recover before the end of this month. By recovery, some analysts and experts are looking at the possibility of the top crypto hitting $100,000 by the end of June.
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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.