💰 Robert Kiyosaki's Big Bitcoin Bet: Why He's Eager to Buy the Dip at $58,500!
Famed investor and "Rich Dad Poor Dad" author Robert Kiyosaki sent shockwaves through the crypto world on Monday, revealing he couldn't wait to scoop up more Bitcoin after it plummeted to $61,000.
🚨 Bitcoin Nosedives to Multi-Month Low, Kiyosaki Seizes Opportunity
Kiyosaki's anticipation turned into reality as Bitcoin plunged to a multi-month low of $58,500 later in the day. While most investors might panic, Kiyosaki is cool-headed and sees it as a golden opportunity.
💡 "Bitcoin Dip? I'm Buying!" - Robert Kiyosaki
Kiyosaki took to Twitter to share his contrarian stance: "Bitcoin is crashing. Most people should sell. I am waiting to buy more. If crashes terrify you, sell and hang on tight to your job, which is what most 'employees' should do."
🌟 Bitcoin: The New Gold?
Kiyosaki has long praised Bitcoin for its scarcity and resistance to inflation, likening it to precious metals like gold and silver. Earlier in March, he slammed government bonds as the "biggest lie" sold to investors and touted gold, silver, and Bitcoin as the real assets poised for explosive growth.
🚀 Bitcoin to $350,000? Kiyosaki Thinks So!
This month, Kiyosaki made a bold prediction: Bitcoin could soar to $350,000 by August 2024, driven by reckless monetary policies. Unlike traders who play on Bitcoin's short-term volatility, Kiyosaki follows a "buy and hold" strategy, inspired by Warren Buffet's approach to long-term investing.
📈 Beware of Short-Term Trading
Kiyosaki also warned against the pitfalls of short-term trading, particularly the burden of capital gains taxes. "The problem with 'trading' any asset is taxes, specifically 'short term' capital gains taxes," he noted. His advice? Hold on for the long haul, just like Buffett.
🌊 Bitcoin's Fierce Correction and Mt. Gox Drama
Bitcoin's sharp decline began on news that Mt. Gox would start returning customers' BTC next month, nearly a decade after its collapse. With over $8 billion worth of BTC ready for distribution, fears of a market flood intensified, causing Bitcoin's price to dip below $59,000.
📉 Market Shake-Up
The market witnessed over $373 million in crypto liquidations in just 24 hours, according to CoinGlass. Despite this turmoil, millionaire crypto trader Andrew Kang predicted that while Bitcoin might face severe corrections in the coming months, it is set to hit new highs by 2025.
Stay tuned to see if Kiyosaki's big bet pays off as Bitcoin navigates these turbulent waters!
