Robert Kiyosaki, Author of Rich Dad Poor Dad, Seeks to Increase Bitcoin (BTC) Holdings During Market Decline
Renowned author Robert Kiyosaki, best known for his book “Rich Dad Poor Dad,” has expressed his intention to increase his Bitcoin holdings as the cryptocurrency experiences a price decline. Addressing his 2.5 million followers on the social media platform X, Kiyosaki outlined his investment approach of buying and holding Bitcoin, emphasizing a long-term perspective over short-term fluctuations.
In a recent statement, Kiyosaki acknowledged the current market volatility, stating, “Bitcoin is crashing. Most people should sell. I am waiting to buy more. All markets go up and down. Many people make a lot of money ‘trading’ markets, which means buying low and hopefully selling high. The problem with ‘trading’ any asset are taxes, specifically ‘short term’ capital gains taxes. My strategy is similar to Warren Buffet’s: ‘buy and hold on forever.’”
Highlighting his entrepreneurial endeavors, Kiyosaki revealed, “What am I doing if not trading assets? I spend my time building new assets, which is why I am a ‘serial entrepreneur.’ Currently I am working on two new ‘start-ups.’” He further differentiated between the mindsets of employees and entrepreneurs during economic downturns, advising individuals to prioritize their financial well-being.
Expressing optimism about Bitcoin’s future potential, Kiyosaki shared, “I become frustrated encouraging people to buy Bitcoin. I receive so many lame excuses. The most common excuse: Bitcoin is too expensive. And it is high, yet not as high as it’s going to go. I simply repeat my Rich Dad’s lesson on investing: Your profit is made when you buy. Not when you sell. We all wish we had bought Bitcoin when it was $10, but those days are long gone. Don’t be a loser, buy a little, what you can afford, and keep buying.”
At the time of writing, Bitcoin is valued at $61,896, reflecting a 4% increase in the past 24 hours following a temporary dip to $59,462. Kiyosaki’s endorsement of Bitcoin aligns with his belief in its long-term growth potential, urging individuals to consider investing in the cryptocurrency despite perceived barriers to entry.
