‘Rich Dad, Poor Dad’ Author Robert Kiyosaki Shares His Strategy for Bitcoin’s Drop to $200
He views a hypothetical drop in Bitcoin to $200 as an opportunity to increase his holdings.
Kiyosaki asserts that investments in tangible assets and Bitcoin will lead to wealth accumulation, regardless of market fluctuations.
In a recent post on X (formerly Twitter), financial education advocate Robert Kiyosaki reacted to some interesting predictions made by economic forecaster Harry Dent. Dent has caused somewhat of a stir in the investing community with his forecast of an imminent “everything” crash.
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A downturn Dent says will devastate the “Baby Boom Generation” the hardest, as their home values plummet. He doesn’t stop there though: Dent also projects a staggering 80% fall in the S&P 500 and predicts that Bitcoin’s value will nosedive back to US$200 a coin.
Kiyosaki, known for his critical view of traditional financial systems and advocacy for alternative investments, responds to Dent’s predictions with a pragmatic approach. He says if the predictions are correct, it’s a buying opportunity for him.
If Harry is correct, I will simply buy more real estate, gold, and silver.
The “Rich Dad, Poor Dad” author has a long history of believing in the value of tangible assets over traditional currency or financial instruments susceptible to market volatility.
Additionally, Kiyosaki’s response to the potential drop in Bitcoin’s value is equally strategic:
If Bitcoin drops to $200 per coin, I will buy as many coins as I can.
This shows his confidence in the resilience and long-term value of cryptocurrencies, despite their notorious volatility.
God’s Money, The People’s Money, Fake Money
Kiyosaki goes on to suggest that, should Dent’s predictions actually come true, those who are prepared—those who have diversified their investments into assets like real estate, gold, silver, and Bitcoin—could not only safeguard their wealth but potentially emerge as the next generation of millionaires or even billionaires.
If Harry is right… those who are prepared will soon be multi-millionaires and possibly a few new billionaires.
No matter though whether Dent’s predictions eventuate, Kiyosaki believes that investors in gold, silver, and Bitcoin will find themselves wealthier in the long run, regardless of the market’s immediate direction.
In Kiyosaki’s view:
Gold and silver are God’s money. Bitcoin is people’s money. The dollar is fake money.
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Filed under: Bitcoin - @ April 3, 2024 3:18 am