Robert Kiyosaki, the author of the "Rich Dad Poor Dad" financial literacy book, has sold Bitcoin that he owned for a total of $2.25 million in value, according to his most recent social media post.
Kiyosaki claims that he bought these Bitcoins years ago at $6,000 per coin. Hence, his purchase price was far lower than his sale price, generating a large gain.
The controversial pundit says that he sold his Bitcoin for "approximately $90,000" per coin.
Kiyosaki's next moves
He used the proceeds from selling Bitcoin to purchase two surgery centers. The financial commentators also invested in a billboard business.
Kiyosaki, who infamously filed for bankruptcy in October 2012, believes that these new businesses will generate approximately $27,500 per month in tax-free income by next February.
This is positive cash flow, meaning the income exceeds the costs of running these businesses.
Future Bitcoin plans
Kisaki's decision to jump ship might seem surprising, given that he previously predicted that he predicted that the price of Bitcoin could surge to as high as $250,000. Earlier this month, he said that he kept buying Bitcoin and Ethereum following the market correction while predicting "massive riches."
Despite selling, Kiyosaki is still bullish on Bitcoin. He plans to buy more Bitcoin in the future with the help of the cash flow from his new businesses.
The cryptocurrency is currently trading at $84,475, experiencing substantial volatility. Earlier today, it briefly collapsed below $81,000 on the Bitstamp exchange.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team