- Robert Kiyosaki sees Bitcoin’s price drop as a chance to buy more.
- He blames the U.S. monetary system and debt crisis for economic instability.
- The post sparked mixed reactions, with some supporting Bitcoin and others favoring gold and silver
Famous author of Rich Dad Poor Dad Robert Kiyosaki has reaffirmed his support for Bitcoin following the recent price decline. In a post on X, Kiyosaki remarked that Bitcoin is “on sale” and revealed he is buying more.
Kiyosaki expressed his sentiment as the price of Bitcoin has crashed to $82K today, a low point last seen in November 2024. However, Kiyosaki attributed this drop to broader financial instability, not Bitcoin itself. “The problem is not Bitcoin. The problem is our monetary system and our criminal bankers,” Kiyosaki wrote .
Accordingly, he warned that America’s debt, which he claims exceeds $230 trillion when including social programs, puts the economy at risk. If foreign countries such as Japan and China stop buying U.S. bonds, he believes inflation will surge, leading to a dollar collapse.
Community Divided on Kiyosaki’s Post
Kiyosaki’s comments sparked debate among investors and traders. Supporters echoed his concerns about fiat currency and praised Bitcoin’s long-term potential.
Solix Trading acknowledged Bitcoin’s volatility but pointed out that many investors view it as a safeguard against a failing financial system. Brett Wilmot emphasized that those who take the time to research Bitcoin’s fundamentals will see its true significance, making short-term price swings less concerning.
Related: Bitcoin’s Sideways Slide: Is the Dip a Correction or Start of Bear Market?
On the other hand, Matthew Ferris disagreed with Kiyosaki, arguing that Bitcoin is not the right asset to hold in times of economic uncertainty. He maintained that gold, silver, and other hard assets are more reliable. Chad Boston also took a different stance, suggesting that XRP might be a better alternative.
Bitcoin’s Fundamentals Remain Strong Despite Price Drop
Despite Bitcoin’s drop, some analysts believe its fundamentals remain strong. “Bitcoin is dropping, entering bear market territory. Yet the fundamentals remain the same, if not stronger than ever,” commented Lance.
Notably, Bitcoin price plummeted to a new 120-day low of $82,250 yesterday as U.S. tech stocks sell-off spread bearish sentiment. Market data also shows that a prolonged selling spree among Bitcoin ETFs could escalate the BTC price downtrend further.
Related: Crypto Market Shaken by $245M Bitcoin Long Squeeze, Open Interest Declines
AI Stock Surge Pulls Capital from Bitcoin
The move toward AI stocks contributed to Bitcoin’s decline, reflecting a growing preference for equities because of inflation concerns and geopolitical risks. For instance, NVIDIA’s strong Q4 earnings saw its stock jump 4% and add $125 billion in market value, drawing investor capital away from Bitcoin.
Furthermore, U.S. Bitcoin ETFs saw their largest outflow on record on Tuesday, with over $1.1 billion outflows. Over the last six days, the outflow figures reached $2.1 billion, weakening market support. Analysts believe Bitcoin could face more profound losses below $80,000 if this trend continues.
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