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The "Rich Dad Poor Dad" author Robert Kiyosaki has provided clarity to investors who are waiting to buy Bitcoin (BTC) when the current crash is over. In a post to his over 2.8 million followers on X, Kiyosaki exposed the pitfall to this line of thinking and the reasons investors need to be strategic.
Robert Kiyosaki on need for liquidations
Notably, the author and entrepreneur observed that Bitcoin supply remains a limited 21 million BTC. This fixed supply means that Bitcoin is a scarce asset and likely to rise again once the market stabilizes. So, waiting for the crash to end might mean that such investors will buy at a higher price than the current dip.
In an earlier post, Kiyosaki used the "question and answer" format to explain the reasons he is HODLing to his stash. Although he acknowledged the declining value of the asset in the cryptocurrency market, Kiyosaki maintains he has no intention to sell.
He insists on holding on to Bitcoin, gold, silver and Ethereum (ETH). The author sees the current price fluctuations as an expected dip in the market and not necessarily a thing to trigger panic. In his opinion, the crash was sparked by a global demand for cash.
Kiyosaki explained that since he has no need for cash, he would not sell his Bitcoin stash. According to him, only people in need of cash sell their assets during a market crash. However, for people like himself who have enough cash flow, there is no need to liquidate anything.
In essence, he is stating that the current crash in the value of Bitcoin and other crypto assets is not because the assets are bad. Rather, those selling are doing so because they are either broke or in need of cash to solve certain challenges.
Kiyosaki argues that the world is deeply in debt and governments will try to overcome this huge deficit by printing more money. He maintains that the massive printing will eventually lead to currency devaluation and inflation.
These would become the catalyst for hard or scarce assets like gold, silver, Bitcoin and Ethereum to soar in value. When the big printing of fiat eventually fails, Kiyosaki believes Bitcoin will rebound to higher levels.
Author maintains bullish outlook for Bitcoin
Within the last 24 hours, Bitcoin has dipped from $97,301.96 to a low of $94,000.73, representing a loss of over 1.08% within the time frame. As of this writing, Bitcoin is changing hands at $95,804.80, which represents a 1.2% decline within the period.
There has also been a decline in the trading volume by 16.69% to $95.33 billion. The figures suggest a pullback by investors who are cautiously monitoring developments in the market.
Despite this low volume, Robert Kiyosaki opines that stacking up on Bitcoin at this time of dip could prove a worthy investment to anyone looking to hedge against inflation and devaluation of fiat currency.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team