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Robert Kiyosaki views the Bitcoin price drop as an opportunity to buy more.
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He blames U.S. debt crisis and monetary system for economic instability.
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This article sparked mixed responses, with some favoring Bitcoin and others preferring gold and silver
Robert Kiyosaki, the famous author of Rich Dad Poor Dad, has reaffirmed that he supports Bitcoin in light of recent price drops. Kiyosaki revealed that he was buying more Bitcoin in a post on X.
Kiyosaki’s sentiments were expressed as the price of Bitcoin crashed to $82K, a level last seen in November 2024. Kiyosaki, however, attributed the drop to wider financial instability and not Bitcoin. “The problem isn’t Bitcoin. Kiyosaki wrote that the problem is our monetary systems and our criminal banks.
He warned that America’s debt – which he claimed exceeded $230 trillion if you include social programs – puts the economy in danger. He believes that if foreign countries like Japan and China stop purchasing U.S. debt, inflation will rise, leading to the collapse of the dollar.
Kiyosaki’s comments sparked a debate among traders and investors. Supporters echoed Kiyosaki’s concerns about fiat currencies and praised Bitcoin for its long-term potential.
Solix Trading acknowledged Bitcoin’s volatility, but noted that many investors see it as a safety net against a failing economic system. Brett Wilmot said that those who research Bitcoin’s foundations will be able to see its true importance, making short-term fluctuations less concerning.
RelatedBitcoin’s Sideways Slide: Was the Dip a Correction, or the Start of a Bear Market?
Matthew Ferris, on the other hand disagreed with Kiyosaki and argued that Bitcoin was not the best asset to hold during times of economic uncertainty. He said that gold, silver and other hard assets were more reliable. Chad Boston took a different stance and suggested that XRP could be a better option.
Bitcoin’s Fundamentals remain strong despite price drop
Some analysts believe that Bitcoin’s fundamentals are still strong despite its drop. “Bitcoin has entered bear market territory. Lance commented that the fundamentals are the same, or even stronger than before.
The price of Bitcoin plummeted yesterday to a new low of $82,250, as the sell-off in U.S. technology stocks spread a bearish sentiment. Market data shows that a prolonged sell-off among Bitcoin ETFs may further escalate the BTC downtrend.
Related to Crypto Market Shaken by $245M Long Squeeze of Bitcoin, Open Interest Declines
AI Stock Surge Pulls Capital From Bitcoin
The shift to AI stocks has contributed to Bitcoin’s fall. This reflects a growing preference for equity due geopolitical and inflation concerns. NVIDIA, for example, saw its stock rise 4% in Q4 and add $125 billion to the market value. This drew investor capital away.
On Tuesday, U.S. Bitcoin exchange-traded funds (ETFs) saw their largest ever outflow, totaling over $1.1 billion. Over the past six days, outflows have reached $2.1 billion. This has weakened market support. Analysts believe Bitcoin will continue to suffer losses below $80,000, if the current trend continues.
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