As an experienced financial analyst, I have closely followed Robert Kiyosaki’s investment strategies and opinions over the years. His consistent advocacy for Bitcoin as a scarce and finite asset, resistant to inflationary pressures of fiat currencies, aligns with my own perspective on the digital currency.
Renowned investor and writer Robert Kiyosaki expressed his excitement on Monday, looking forward to purchasing more Bitcoin once its price dipped down to $61,000 as the day began.
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 author of the top-selling personal finance book “Rich Dad Poor Dad” expressed a contrasting viewpoint to the common practice of selling during market downturns, which he considered a mindset more akin to an employee rather than his own perspective.
“Bitcoin is experiencing a significant drop. Many individuals might consider selling at this point. However, I’m taking advantage of the situation to acquire more. If market downturns cause anxiety, then selling and holding onto a steady job may be the preferred choice for most employees.”
Kiyosaki frequently commends Bitcoin for sharing traits with rare and limited resources such as gold and silver. This similarity grants Bitcoin resistance against the eroding value brought about by inflating fiat currencies, like the US dollar.
In March, Kiyosaki expressed his viewpoint to his audience that government bonds represent a significant deception marketed as secure investments by financial advisors, while advocating for gold, silver, and Bitcoin as authentic assets poised for substantial growth. More recently, he predicted that the price of Bitcoin could hit $350,000 per coin by August 2024 due to unsound monetary and fiscal policies.
Kiyosaki made it clear that while some individuals are drawn to Bitcoin’s price fluctuations in the short term, he personally does not share this preference.
He pointed out the challenge of trading assets on Monday, explaining that it’s primarily the issue of short-term capital gains taxes and their impact. His suggested approach aligns with Warren Buffett’s long-term investment philosophy, which is to buy and hold onto investments indefinitely.
Entrepreneurs and employees represent different perspectives of the same reality, the entrepreneur being the initiator and the employee being the responder, the creator versus the implementer. Be prepared, challenging times are on the horizon. Make the decision that suits you best.
Bitcoin’s Fierce Correction
As a researcher studying the cryptocurrency market, I’ve observed that Bitcoin experienced a downturn on Monday due to an announcement from Mt. Gox. The troubled exchange, which has been insolvent for almost a decade, is set to return over 141,686 BTC to its customers next month, valued at approximately $8 billion. This news has raised concerns among Bitcoin holders, as they fear a potential surge in sell orders from Mt. Gox clients upon repayment.
The cost of Bitcoin dipped below $59,000 on Monday, while BTC experienced more significant increases than several alternative cryptocurrencies. Data from CoinGlass reveals that approximately $373 million worth of cryptocurrency positions have been liquidated in the last 24 hours.
As a millionaire crypto investor, I firmly believe that Bitcoin is primed for significant corrections in the upcoming months. However, I’m optimistic that these corrections will pave the way for new record-breaking highs for Bitcoin by 2025.
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2024-06-25 12:34