Coinspeaker
Rich Dad Poor Dad’s Robert Kiyosaki Calls Bitcoin Dip a Prime Buying Opportunity
Known for his contrarian views on finance and investing, Kiyosaki believes that the current dip in Bitcoin (BTC) price presents an ideal moment for savvy investors to enter the market.
In a recent social media post, the author, who is a prominent advocate for financial education and alternative investments, shared his thoughts on the ongoing market condition that saw BTC drop below $60,000 on June 24, 2024.
According to him, while bitcoin is crashing and people are rushing to sell to safeguard their assets from the volatile crypto market, he is “waiting to buy more”.
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 low. The problem with “trading” any asset is taxes, specifically “short term”…— Robert Kiyosaki (@theRealKiyosaki) June 24, 2024
Kiyosaki elaborated on the patterns of market behavior, noting that “all markets go up and down”, and this, to him, presents a good buy-in opportunity for investors who understand the market dynamics. He also emphasized that many investors make substantial profits through trading, which involves buying low and potentially selling high. However, he pointed out that “the problem with ‘trading’ any asset is taxes, specifically ‘short term’ capital gains taxes”.
Instead of trading, Kiyosaki recommends engaging in a long-term investment strategy. He likened this investment strategy to that of Warren Buffett, which he described as “buy and hold on forever”. According to him, this approach not only minimizes the impact of short-term capital gains taxes but also aligns with his philosophy of building lasting wealth.
Building New Assets
The author explained that his long term investment method involves taking the time to “build new assets”. This he said encourages the creation of value and innovation over short-term gains.
“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 wrote on X.
In addition to encouraging investors to engage in long-term investment opportunities, the “Rich Dad Poor Dad” author recognized that not everyone has the same risk tolerance or financial goals for such investment opportunities. Kiyosaki advised those who are particularly fearful of market crashes to secure their financial stability through traditional employment.
“If crashes terrify you, sell and hang on tight to your job, which is what most ’employees’ should do,” he advised. He also encouraged investors to do what is best for them, adding that tough times are ahead. “Take care. Rough times ahead. Do what is best for you,” Kiyosaki concluded.
Rich Dad Poor Dad’s Robert Kiyosaki Calls Bitcoin Dip a Prime Buying Opportunity
