TL;DR
- Robert Kiyosaki eagerly awaits buying more Bitcoin despite its recent price drop.
- He criticizes panic-selling mentality during market turbulence.
- He advocates for a long-term investment strategy similar to Warren Buffett’s, focusing on holding assets like Bitcoin.
Amid cryptocurrency market volatility, Robert Kiyosaki, renowned author of “Rich Dad Poor Dad”, has once again made headlines with his staunch stance on Bitcoin.
Through his X account, Kiyosaki sparked controversy by stating that, despite Bitcoin’s price falling to $61,000 and then $58,500, according to CoinMarketCap, he sees this not as a reason to sell, but as an opportunity 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
The author, who has repeatedly praised Bitcoin for its scarcity and likened it to precious metals such as gold and silver, openly criticizes the “employee” mentality that he believes leads many people to sell during market turbulence.
For Kiyosaki, these fluctuations are normal in all markets and are an inherent part of the economic cycle.
His “buy and hold forever” strategy, aligned with Warren Buffett’s investment approach, aims to avoid the negative tax implications associated with short-term capital gains.
In addition to his involvement in the cryptocurrency market, Kiyosaki identifies himself as a “serial entrepreneur”.
Currently, he is involved in developing two new businesses, emphasizing his preference for building new assets rather than simply trading existing ones.
This vision reflects his belief in long-term value creation and diversification through multiple ventures.
Impact of the Kiyosaki message
Kiyosaki’s message resonates not only with cryptocurrency investors, but also prompts reflection on the fundamental differences between entrepreneurial and employee mindsets.
To him, entrepreneurs are willing to take calculated risks and look beyond short-term fluctuations, whereas employees often prefer stability through traditional jobs and more conservative financial decisions.
In a cryptocurrency market experiencing significant correction, Kiyosaki’s words could be seen as a reminder of the importance of maintaining a long-term perspective and resisting impulsive actions in response to day-to-day fluctuations.
His focus on asset building and resistance to short-term fiscal pressures reflect a solid strategy that he believes is key to sustainable wealth creation in an increasingly complex financial environment.
While some investors may choose to sell amidst market volatility, Robert Kiyosaki remains steadfast in accumulating valuable long-term assets like Bitcoin.
His message not only underscores his confidence in the cryptocurrency, but also invites deeper reflection on investment philosophies and financial principles that underpin his decisions.
