Rich Dad Poor Dad author says he's ready to load Bitcoin

Rich Dad Poor Dad author Robert Kiyosaki details what scenario would lead him to hoard the cryptocurrency king Bitcoin (BTC).

Rich Dad Poor Dad author says he's ready to load Bitcoin

In a new interview with Kitco News, Kiyosaki said that he is generally optimistic about blockchain technology and that if the leading digital asset has another big drop, he will charge it.

“I am very bullish and bullish on blockchain, so if Bitcoin drops to $1,000 I will support the truck but if it drops to $25,000 I won’t buy anymore.”

The best-selling author hinted a few months ago that he was expecting a sharp drop in the price of Bitcoin, potentially towards $1,100.

 

Kyosaki says that buying in extreme pain is his favorite strategy and there could be several opportunities to do so, not only with Bitcoin but also with gold and real estate.

“You earn when you buy, not when you sell. All these gold people were like 'the price of gold hasn't gone up yet', and I was like 'what are you waiting for?' I remember when gold [in] 2000 was $300 an ounce. You can wait for it to go up to $3,000 or $30,000 an ounce before you buy, which is what stupid people do - they buy at the top of the market.

They all danced like idiots. I'm waiting for the next accident, same with real estate. Real estate is falling apart right now [and] I'm really glad everything is for sale... I don't want to pay retail, I want to pay wholesale. That is conventional capitalism.”

Bitcoin is changing hands for $20,163 at press time, down 2.8% on the day.

 

Sep 15, 2022

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