Robert Kiyosaki — the author of the best-selling financial education book “Rich Dad Poor Dad”— said that the crash in Bitcoin’s (BITCOMP) price is “great news” and the time to get richer is “coming.”
What Happened?
Kiyosaki made the comments on Twitter after Bitcoin’s price fell to the $33,000 level earlier on Monday, adding that he will buy the apex cryptocurrency “if and when” it tests the $20,000 level. Bitcoin has rebounded and traded in the green, as at press time late Monday.
Photo by Quantitatives.io on Unsplash
Kiyosaki reminded his Twitter followers that he had purchased Bitcoin when it traded at $6,000 and $9,000.
The renowned investor added that silver is the “best bargain today” as the precious metal’s price is trading 50% below its all-time high.
Why It Matters?
Kiyosaki has been warning about a major stock market crash for several months now.
The author predicted in September last year that a “giant stock market crash” would unfold within the next month and warned that holdings stocks would prove dangerous.
Kiyosaki said in November he was buying more Bitcoin and Ethereum (ETH-X) to combat inflation.
The author’s perception of Bitcoin as an inflation hedge came even as it was reported in the same month that Bitcoin ended its “pandemic-era correlation” with tech stocks that began in February 2020.
Price Action:
Bitcoin is up 2.7% during the past 24 hours, trading at $36,213.56 at press time.
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