• Kiyosaki says that he may start buying bitcoin when it plummets by another 30%.
• He believed that assets like Gold, silver and even bitcoin will immensely benefit from the Fed policies and will act exceptionally well as hedge funds.
• Major investors spent $3.2 billion on buying 77,000 BTC tokens during the recent price correction.
Robert Kiyosaki, the author of the infamous book ‘Rich Dad Poor Dad,’ calls Bitcoin crashing great news. In a recent tweet, Kiyosaki says that he may start buying bitcoin when it plummets by another 30% and reaches $27000 levels. He added that a lot might depend on the global macro environment. According to him, Gold, Silver, or Bitcoin aren’t the problem. The problem is the Fed and Wall Street. To justify his statement, he added that back in 2000, GoldGold was worth $300.
Kiyosaki Extremely Bullish on Cryptocurrency
The significant American investor has consistently criticized the government and Federal policies. He believed that assets like GoldGold, silver and even bitcoin will immensely benefit from it and will act exceptionally well as hedge funds. Kiyosaki has been highly bullish over bitcoin. When the crypto touched its all-time high value back in April, he predicted that the token would be worth $1 million in the future. However, more recently, BTC is having a hard time supporting the $35,000 levels. A single BTC token is currently trading at $36,333 and is up by 0.56% in the last 24 hours.
More Buyers Than Seller in the Recent Price Correction
Chaddy Kirbaj, vice director at Swissquote Bank in Dubai, said that Bitcoin plummeted from its high of $20,000 in December 2017 to lows of $4,000 in March 2020. Kitbag feels that this time it won’t be any different. He added that big Fintech firms such as PayPal, which adopted bitcoin, have not diverted from their path. Moreover, Elon Musk is also bullish about the future of cryptocurrency. Expressing his opinion on the most recent BTC price correction, he says that there were more buyers than sellers during this correction wave.
The investors have been quite active during the recent price correction. A report by Chainanalysis explained the behavior of the investors during this period. The report stated that significant investors spent $3.2 billion on buying 77,000 BTC tokens during this period. It was noticed that the massive sale took place when BTC was trading at $30,000 to $35,000.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.