Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Financial guru Robert Kiyosaki, an advocate of financial education and the author of the “Rich Dad Poor Dad” book on financial literacy, has published a “Bitcoin curse” tweet. He commented on bearish rumors that in the current month of August, the world’s largest cryptocurrency, Bitcoin, may drop below the $90,000 level.
However, he does not seem to be upset about this, even if it does happen. On the contrary, Kiyosaki looks forward to it.
Will Bitcoin crash below $90,000? Kiyosaki hopes so
In his tweet, financial guru Kiyosaki mentioned a “Bitcoin curse,” meaning that many experts are expecting markets, including that of Bitcoin, to face a major drawdown in August. Last week, Bitcoin already experienced a substantial price drawdown as it fell by 5.26%, hitting $112,250.
That bottom was reached on Saturday, Aug. 2, and since then, Bitcoin has managed to regain 2% and is changing hands at $114,492 at press time.
Kioysaki tweeted that even if Bitcoin crashes below the $90,000 level, he would welcome it with all his heart. “I hope so,” he tweeted, commenting on that potential Bitcoin price move.
"The problem is not Bitcoin" crashing: Kiyosaki
If BTC goes down that much, he said, he will increase his current Bitcoin position 2x: “If the Bitcoin August Curse hits and Bitcoin crashed, I stand by to 2x my position today.” If the crash happens, he said, it will “make most Bitcoin investors richer.”
Once again, Robert Kiyosaki referred to the rapidly increasing U.S. debt, which exceeds $30 trillion and continues to grow. The financial expert blames this on the Federal Reserve and Treasury, which frequently resort to printing dollars out of thin air and injecting them into the economy.
Metaplanet buys 463 BTC, boosting its stash
Meanwhile, Bitcoin-focused Japanese company Metaplanet has announced yet another regular Bitcoin acquisition. In a tweet published today, its CEO, Simon Gerovich, said that the company has bought 463 BTC for roughly $53.7 million. Each coin in this purchase was worth approximately $115,895.
Besides, Metaplanet achieved a Bitcoin yield of 459.2% year-to-date this year so far. Metaplanet now holds a total of 17,595 BTC worth almost $1.8 billion. This firm is currently the fifth-largest Bitcoin treasury company, with Strategy firmly sitting in first place with the largest Bitcoin holdings among those institutions.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team