Wednesday, May 25

Robert Kiyosaki Says Bitcoin Crash Is ‘Excellent News’, Will Buy If It Hits $20,000

For Hannah Perez

Kiyosaki expects the price of Bitcoin to drop below its current levels in order to buy more of the cryptocurrency. The author had already anticipated a decline in October.


Investor Robert Kiyosaki, the bestselling author of the personal finance book “Rich father poor father“, considers the recent price drop seen in the digital currency market to be a “great news“.

The author and financial guru, who in the past has repeatedly recommended his followers to buy Bitcoin (BTC) as a haven asset for inflation, took to Twitter again to share his latest outlook around the cryptocurrency.

Unlike other traders, Kiyosaki was not worried about the price pullback in the market. In fact, he indicated that he expects the price of Bitcoin scroll down even further to buy. “«Your benefits are obtained when you buy, not when you sell», he said in advice to his 1.8 million Twitter followers, adding:

The price of Bitcoin is plummeting. Great news. I bought [BTC] at USD$6,000 and 9,000. I will buy more if and when [BTC] try $20k. The time to get rich is coming.

Falling prices is time to buy, says Kiyosaki

The comment comes amid a steep price decline for the digital currency market that has seen Bitcoin lose support at $40,000. as reported DailyBitcoin, the flagship cryptocurrency has been recording a progressive decline since its price reached an all-time high near $70,000 in November.

The crash of almost 50%, which is affecting the main cryptocurrencies in the market, seems to be part of a response to the expectations of an increase in interest rates by the US Federal Reserve (FED), as well as the tightening of monetary policies. The downward trend has also spread to the actions of the US stock market.

According to data from CryptoMarkets, Bitcoin it is trading around $34,200 at press time, its lowest level since July 2021.

BTC price evolution in the last 6 months – CriptoMercados

Kiyosaki’s statement echoes some previous comments. In October last year, the author had celebrated the price increase of Bitcoin at that time, after it reached a value above 60,000. But nevertheless, He said he anticipated a correction and said he expected to buy during the bear season.

Then, at the end of December, the investor had recommended to his followers during a YouTube broadcast to buy Bitcoin to protect against inflation. Kiyosaki at that time accused the US central bank of money printing policies, a measure to intervene in favor of the banks, as he himself indicated. He added that these actions will cause a significant economic decline.

In early January, the author took to Twitter to reiterate his stance, calling the price drop in the cryptocurrency market and stocks a positive. “The NASDAQ sinks 2%. Gold falls 0.2%. Bitcoin down 1.4%. Silver rises 0.01%. The S&P falls 1.6%. The markets crash. The FED does not print counterfeit money. Good news. Market crashes are the best time to get rich“, wrote.

Kiyosaki Recommends Bitcoin

This is far from the first time Kiyosaki has spoken about the power of Bitcoin in the face of economic inflation. For at least two years, the financial guru has described the new class of assets as an excellent protection, even better than gold, for the eventual scenario of economic decline that will be felt worldwide.

He has invited investors to try cryptocurrencies as haven assets while predicting that the price of Bitcoin will follow a long-term uptrend. Below you can find some related articles:

Article by Hannah Estefanía Pérez / DailyBitcoin

Unsplash Image

WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.