Rich Dad Poor Dad author Robert Kiyosaki says he is planning to buy more Bitcoin (BTC) as the crypto king dips in price.
Kiyosaki tells his 2.5 million followers on the social media platform X that he has a “buy and hold” investing strategy when it comes to Bitcoin.
“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 [high]. The problem with ‘trading’ any asset are taxes, specifically ‘short term’ capital gains taxes. My strategy is similar to Warren Buffet’s: ‘buy and hold on forever.’
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.’
If crashes terrify you, sell and hang on tight to your job, which is what most ’employees’ should do. Simply said entrepreneurs and employees are opposite sides of the same coin. Take care. Rough times ahead. Do what is best for you.”
The best-selling author believes Bitcoin will continue to rise in value.
“I become frustrated encouraging people to buy Bitcoin. I receive so many lame excuses. The most common excuse: Bitcoin is too expensive. And it is high, yet not as high as it’s going to go. I simply repeat my Rich Dad’s lesson on investing: Your profit is made when you buy. Not when you sell. We all wish we had bought Bitcoin when it was $10, but those days are long gone. Don’t be a loser, buy a little, what you can afford, and keep buying.”
Bitcoin is trading for $61,896 at time of writing, up 4% in the last 24 hours, after dropping to a 24-hour low of $59,462.
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