Robert Kiyosaki Reveals Why He Bought Bitcoin at $67K?

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Coingapestaff

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Robert Kiyosaki Reveals Why He Bought Bitcoin at $67K?

Highlights

  • Kiyosaki buys 1 BTC at $67K despite market decline.
  • He cites U.S. debt, Fed printing, and Bitcoin scarcity as reasons.
  • Kiyosaki predicts stock crash; favors BTC, ETH, gold, and silver as hedges.

Robert Kiyosaki, the author of the popular Rich Dad Poor Dad, is not afraid of market crashes. Instead, he sees it as a buy-the-dip opportunity. This approach is particularly evident from his latest purchase of 1 BTC at $67,000, despite the cryptocurrency’s sharp decline. Is this a smart move?

Robert Kiyosaki Explains His Smart Bitcoin Buy

In an X post earlier today, Rich Dad Poor Dad author Robert Kiyosaki unveiled his latest Bitcoin purchase amid the market crash. He bought one whole Bitcoin at $67,000, contributing to his stash.

The post also shed light on the two key reasons for his latest Bitcoin buy. Reiterating his previous stance, Robert Kiyosaki noted that the first reason is his concern about the US debt and the Federal Reserve. He believes that the Fed will start printing trillions of “fake dollars” when the US debt triggers a dollar crash. This, according to him, could further weaken the fiat currency.

The second reason Kiyosaki cited is the scarcity of BTC. He believes that as the cryptocurrency moves closer to its final mining, the scarcity could make the coin more valuable than ever. BTC has a fixed supply of 21 coins. Now, more than 19 million have already been mined. When the final coins are mined, Bitcoin’s limited supply could push the prices to unprecedented heights, stated Robert Kiyosaki. His post read,

“Because the Big Print will begin when the US debt crashes the dollar and “The Marxist Fed” begins printing trillions in fake dollars. The magical 21 millionth Bitcoin is getting close to being mined. When the 21st millionth Bitcoin is mined…. Bitcoin becomes better than gold.”

His statement echoes his earlier view that Kiyosaki isn’t concerned with Bitcoin’s short-term performance and focuses instead on a long-term strategy. As CoinGape reported, Kiyosaki believes that the short-term fluctuations are driven by macroeconomic and geopolitical pressures, but they will not hamper its long-term growth.

An Imminent Market Crash Ahead?

Robert Kiyosaki’s latest Bitcoin purchase comes on the heels of his recent prediction of a major stock crash. It wasn’t a fresh prophecy, but he was reminding his followers about the projection he made in 2013 in his book, Rich Dad Poor Dad.

Now, Robert Kiyosaki believes that the crash is near. He urged investors to shift their focus to Bitcoin, Ethereum, gold, and silver, the assets he believes could act as a hedge. He believes that these assets, including BTC, could rise amid the stock market crash.

At the same time, crypto critics like Peter Schiff claim that a Bitcoin crash is imminent. He stated that the crypto’s fall below the $50k mark could trigger a severe debacle. Urging investors to sell their BTC holdings, Schiff reiterated his skeptical approach to crypto.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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