Robert Kiyosaki: I will Buy More If Bitcoin Retest $20k
January 24 2022 - 12:11PM
NEWSBTC
Bitcoin has dropped to a low of $33,064 and could go further due to
the negative sentiment that is permeating the markets. Robert
Kiyosaki, an American businessman and author, is unconcerned with
the recent price dip in the Bitcoin market. He called bitcoin’s
drop “great news” and promised to increase his exposure to the
commodity if its USD value fell below $20,000. Kiyosaki Sees Price
Fall As Buying Point The 74-year-old Kiyosaki, best known for his
Rich Dad Poor Dad book series, is one of the experts who believe
bitcoin is an hedge against financial crisis and inflation. He also
believes that the pioneer cryptocurrency can be used for
educational purposes. He stated in the summer of 2020 that BTC,
along with gold and silver, “make people smarter, richer, and
stronger against the Fed.” The popular author, who is a vocal
proponent of cryptocurrency, stated this on Monday as bulls fought
to keep prices over $34,000. However, Bitcoin has dropped to
intraday lows of $33,600, capping up a dismal week in which the
flagship cryptocurrency’s value fell below crucial support levels
of $40,000 and $37,300. WOW:Words of Wisdom. “Your profits are made
when you buy, not when you sell.” Price of Bitcoin crashing. Great
news. I bought BC at $6K and 9K. I will buy more if and when BC
tests $20k. Time to get richer is coming. Silver best bargain
today. Silver still 50% below high. — therealkiyosaki
(@theRealKiyosaki) January 24, 2022 According to Kiyosaki, a new
slump that exacerbates the losses will be “great news.” According
to him, this presents a buy-the-dip opportunity, which he intends
to take advantage of. The US businessman and founder of Rich Global
LLC claimed that he purchased Bitcoin twice in the past, once when
it was around $6,000 and again when it was around $9,000. BTC/USD
at $33k. Source: TradingView Kiyosaki predicted in May 2020 that
Bitcoin would reach $75,000, however the aim was missed when prices
peaked at roughly $69,000. The author recently linked Bitcoin to
“people’s money,” while gold was dubbed “God’s money.” The investor
has already expressed his skepticism for the traditional banking
system, forecasting a US dollar meltdown. According to him, the
monetary troubles generated by the Fed’s COVID-19 countermeasures
have rendered the American national currency “fake dollars.” He
urged individuals not to store money since their savings would be
devalued during a recession. Instead, they should concentrate on
bitcoin and gold in order to protect their wealth. He also
forecasted the 2008 Financial Crisis and questioned the US
government’s countermeasures. Related article |“Buy Bitcoin”:
Robert Kiyosaki Foresees A New Depression Not Only Kiyosaki Shares
This Sentiment Bitcoin’s price has dropped by more than half from
its all-time high in November, prompting some to speculate that the
crypto bubble has burst. However, according to Perianne Boring,
creator of Digital Chamber, “volatility is not always a bad thing.”
She went on to say on CNBC’s “Squawk Box”: “It’s normal to see
30-50% volatility in the crypto markets in any given month. The
markets are behaving just as expected.” In her view, Bitcoin price
will likely rebound higher given the cryptocurrency’s fundamentals
“are as strong as ever.” This is not the first time Kiyosaki has
taken aim at fiat currencies, particularly the US dollar. He
mentioned a few years ago that the financial sector would undergo
significant changes by the year 2040. He predicted that gold will
continue to play an active role because it has been present “for
eternity.” He, on the other hand, had a different take on the
dollar: “Will the dollar be here? I don’t think so. The dollar is
toast because gold, silver, and cyber currency are going to take it
out. The U.S. dollar is a scam. I think we are watching the end of
the dollar. That’s what I’m saying.” Related article | Rich Dad
Poor Dad’s Kiyosaki is Buying More Bitcoin Today, But Why? Featured
Image from Shutterstock | Charts by TradingView
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