The writer predicted at the beginning of the year that the value of bitcoin would be $100,000 in June.
The author of the book “Rich Dad, Poor Dad” believes that BTC is a store of value like gold.
The renowned American writer and investor, Robert Kiyosaki, yesterday revealed details about his investment strategy in bitcoin (BTC), sharing the amount of this digital currency he owns.
Thanks to the advice of Raoul Pal, financial analyst and former Goldman Sachs executive, Kiyosaki bought, years ago, 30 bitcoins at $6,000 each, an investment that today has brought him a good profit margin. And yet, it continues to accumulate the digital currency every month.
With bitcoin currently trading in the $61,000 area, Kiyosaki's initial investment of $180,000 now stands at $1,830,000. In this regard, the businessman says that he trusts Pal's theory about the "banana zone", in which a rapid increase in the price of bitcoin is expected in an upward curve.
Kiyosaki pointed to the concept mentioned by analyst Pal that the price of bitcoin is entering the “banana zone.” The businessman referred to this as a point at which there are signs that BTC would rapidly increase its price in a parabolic and ascending curve.
In turn, Kiyosaki again expressed his enthusiasm for bitcoin (BTC). In another publication on X, the businessman made it clear that his intention is to buy more bitcoin, despite the current bear market that surrounds the digital currency.
“Bitcoin is collapsing. Most people should sell. I'm waiting to buy more. “All markets go up and down.”
Kiyosaki's phrase has an explanation. As reported by CriptoNoticias, the price of bitcoin falls due to the net outflows presented by ETFs in the United States, due to the sales of BTC miners and, yesterday, June 24, 2024, the price of the digital currency felt the impact of the news about the refunds that Mt. Gox will make.
Since June 11, 2024, bitcoin has been falling in price. The negative impact of these events led bitcoin to its current decline. This bearish movement can be seen more clearly in the chart provided by the TradingView platform.
In other predictions that Kiyosaki made regarding the price of bitcoin, on February 18, 2024, he predicted that by June bitcoin would reach a price of $100,000.
With only four days left until the end of the month of June, bitcoin is trading in the $61,000 area and the investor's prediction seems somewhat distant.
In turn, Kiyosaki continued to detail his position regarding the digital currency with the highest market capitalization and referred to his long-term and accumulation strategy that he uses in bitcoin. He added that trading short-term assets could pose a problem due to the taxes and transaction costs established by exchanges.
“The problem with buying and selling any asset is taxes, specifically “short-term” capital gains taxes. My strategy is similar to Warren Buffet's: "buy and hold forever."
The writer, who gained great relevance for his book “Rich Dad, Poor Dad,” has already explained his attraction to bitcoin in recent years. Specifically, he considered digital currency as an asset similar to the raw materials of gold and silver, because they function as a reserve of value and, unlike money, are not corruptible.
Kiyosaki closed his message by emphasizing that crises terrify many people in the markets and because of this they sell their positions, although, he added without much explanation, that we must "take care of ourselves" and that "difficult times" are coming.
