Famous investor and author Robert Kiyosaki shared his excitement about buying more Bitcoin as the price dropped to $61,000, starting the day. He expressed his belief that selling during market turmoil shows an “employee” mentality, which he does not agree with. Kiyosaki took to Twitter to encourage people to sell if crashes scare them, but he is eagerly waiting to buy more.
Kiyosaki has consistently praised Bitcoin for its scarcity and likened it to precious metals like gold and silver, emphasizing its resistance to inflationary pressures from fiat currencies. He has previously criticized government bonds as a deceptive investment and highlighted gold, silver, and Bitcoin as real assets with potential for growth.
While many prefer trading Bitcoin for short-term gains, Kiyosaki emphasized his strategy of buying and holding, similar to Warren Buffet. He suggested that entrepreneurs and employees have different approaches to investing and advised individuals to consider their best interests during challenging times.
Bitcoin experienced a significant correction on Monday, partly due to news that Mt. Gox would return customers’ BTC after years of insolvency. The potential influx of BTC into the market raised concerns among Bitcoin holders, contributing to the price drop below $59,000. The crypto market also saw substantial liquidations totaling over $373 million in the past 24 hours.
Despite the current market conditions, millionaire crypto trader Andrew Kang predicted extreme corrections for Bitcoin in the coming months before reaching new highs by 2025. This volatility underscores the importance of having a long-term investment strategy, as advocated by Kiyosaki and other seasoned investors.
As the cryptocurrency market continues to evolve, opportunities for growth and risks of correction will persist. Investors like Kiyosaki remain optimistic about Bitcoin’s potential, emphasizing the importance of understanding the market dynamics and making informed decisions based on individual financial goals.