Robert Kiyosaki explains why he ‘would be happy’ if Bitcoin crashes

Renowned financial educator and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has expressed an unexpected perspective on the potential crash of Bitcoin (BTC). 

Notably, Kiyosaki ranks among the notable backers of Bitcoin, maintaining that the asset can record significant gains in the future despite a section of the market stressing that the cryptocurrency has the potential to plunge to zero. 

In this line, in an X (formerly Twitter) post on February 24, Kiyosaki addressed the common question he receives about the possible consequences of a Bitcoin crash, drawing parallels with other precious assets like gold and silver.

Picked for you

3 cryptocurrencies to avoid trading next week 50 mins ago
AVAX sell-off alert: Avalanche suffers major outage 20 hours ago
Dogecoin competitor threatens 100% bullish breakout 22 hours ago
Early backers fund Flare, reducing liquidity and fueling increased investment in the ecosystem 22 hours ago

Kiyosaki shared his thoughts on the hypothetical scenario of a Bitcoin crash, stating that he would be happy and ready to purchase more of the maiden cryptocurrency once the market turmoil settles. He emphasized his steadfast confidence in the resilience of Bitcoin to rally again in the event it loses its value. 

The financial educator further explained his viewpoint by framing market crashes as opportunities for savvy investors. According to him, all market crashes are essentially assets going on “sale,” a sentiment reflected in his concluding statement.

“I am often asked “What  happens if Bitcoin crashes?” My reply is the same for Bitcoin, gold, or silver. My reply is “I would be happy and I would buy more, once the crashing stops.” All market crashes are, are assets going on and “sale” is my favorite four letter word,” Kiyosaki said. 

Kiyosaki’s bet on Bitcoin 

This perspective aligns with Kiyosaki’s long-standing belief in financial education and seizing opportunities during market fluctuations.

It is worth noting that Kiyosaki has maintained that Bitcoin is slated for an all-time high in 2023, citing driving factors such as the diminishing value of the United States dollar. For instance, as reported by Finbold, the author believes that Bitcoin will likely trade at $100,000 by June 2024. 

This comes as the investor continues to caution about a possible collapse of the stock market while maintaining that assets such as Bitcoin, gold, and silver are the best bets in such an event, stressing their resilience. 

Additionally, Kiyosaki has blamed the Federal Reserve for the current economic situation while urging investors not to focus on the institution. Instead, Kiyosaki has, in the past, advocated for continued investment in Bitcoin and precious metals. 

Comments

Post a Comment

Popular posts from this blog

Quant Pauses Over $115, But Tends To Move In A Range

Image
Jan 06, 2024 at 10:09 // Price Author Coin Idol The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price Analysis by Coinidol.com. Long-term Quant price prediction: ranging This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average...
Read more

Dogecoin Price Prediction: DOGE Surges 22% In A Week As This Innovative Staking Meme Coin Storms Toward $3 Million

Image
The Dogecoin price has surged 22% in the past week even after it fell 2% in the last 24 hours to trade at $0.170 as of 00:35 a.m. EST on trading volume that plunged 37% to $2.06 billion. Dogecoin Price Prediction: DOGE Aiming For A Bullish Rally The Dogecoin price has been in an uptrend in October, as the bulls used the $0.11 support zone to push the price through a markup phase, according to data from GeckoTerminal . DOGE then went through a consolidation phase from mid-October within the $0.1460 range. The Dogecoin price bulls then used the lower boundary of the sideways pattern at $0.13 as the support to push DOGE through a parabolic curve, which indicates strong momentum. DOGE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the price’s general bullish outlook. The RSI is in bullish territory but not yet overbought, currently at 65, meaning there’s still potential for further gains before any risk of a reversal. If the RSI ...
Read more

Netflix’s Bitconned Exposes Crypto’s Dark Side, Unveils Centra Tech’s Scheme

Netflix documentary “Bitconned” unveils details of a crypto scam orchestrated by Centra Tech. The documentary highlights risks in the unregulated crypto space, emphasizing deceptive projects. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. In the recent documentary release from Netflix titled “Bitconned,” viewers are presented with a comprehensive exploration of the nefarious world of crypto, unraveling a tale of deception, fraud, and the ominous rise of dubious crypto ventures. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. Touted as a revolutionary force in the crypto landscape, Centra Tech, was, in reality, a house of cards built on deceit.  The documentary uncovers the mechanics behind the scenes, showing how Centra Tech managed to rake in millions of dollars daily. Ray Trapani, along with co-founders Sohrab Sharm...
Read more