Kiyosaki sees Bitcoin as a hedge against inflation and says he will buy the dips while its price plummets. The renowned investor has recommended that investors acquire gold, silver, and Bitcoin amid hyperinflation and recession.
Amid a bearish market that has affected cryptocurrencies, Bitcoin is trading at around USD 30,000. Due to the sharp drop in its price, many investors are interested in buying the cryptocurrency cheaply.
Robert Kiyosaki, the author of the personal finance book Rich Dad, Poor Dad, is among those interested in acquiring Bitcoin. The renowned businessman and investor recently expressed his position on the current status of the crypto market.
Kiyosaki believes cryptocurrencies are a hedge against inflation and values them for their decentralized nature. He commented it is good news that the Bitcoin price is plummeting and that he is ready to buy the dips.
The personal finance expert explained why he thinks that market crashes are good. Citing the above book, he said that profit comes when buying an asset, not when selling it. He stated that he would buy Bitcoin when it bottoms out as he thinks it is the future of money. In addition, he highlighted that this is the ideal time to become rich.
The American author expects BTC to rebound after the decline in its price. He reiterated that the current market situation is the best to invest in the pioneering cryptocurrency.
Kiyosaki Thinks the US Government Will Make Bitcoin Win
Robert Kiyosaki recently expressed that he believes that Bitcoin will win despite the drop in its price. He referred to those leading the US (President Joe Biden, Treasury Secretary Janet Yellen, and Fed Chairman Jerome Powell) as the Three Stooges. The personal finance author said he trusted the cryptocurrency created by Satoshi Nakamoto, not the above government officials.
On other occasions, the renowned investor has expressed his mistrust of the Biden administration, Wall Street, and the Federal Reserve. For several years, Kiyosaki has recommended that investors acquire Bitcoin as soon as possible while it is dropping.
In April, he stated the hugest burst of the bubble was coming and called the government, Wall Street, and the Federal Reserve thieves. He also pointed out that hyperinflation and recession are here and advised investors to purchase gold, silver, and Bitcoin.
Despite that, Kiyosaki does not think the outlook for the cryptocurrency market is very positive. In March, the expert warned that the US government would try to seize cryptocurrencies and convert them into a government cryptocurrency. After that, he said that the war between Russia and Ukraine made people see cryptocurrencies as a safer store of value. He referred to the excessive printing of banknotes by the Fed as fake money.
The cryptocurrency fear and greed index is currently at extreme fear, indicating that investors are concerned about crypto assets. However, it also represents an excellent opportunity to buy Bitcoin, as Robert Kiyosaki has stated.
Bitcoin is trading at around USD 30,062 and has accumulated a 1.3% gain over the last 24 hours. While its trading volume is above USD 24.02 billion, its market capitalization is about USD 572.35 billion, according to CoinGecko.
By Alexander Salazar
