The American businessman and author – Robert Kiyosaki – is not concerned about the recent price drop in the cryptocurrency market. He described bitcoin’s plunge as “great news” and vowed to increase his exposure to the asset should its USD value dip to $20,000.
The 74-year-old Kiyosaki, best known for his series of books called Rich Dad Poor Dad, is among the experts who consider bitcoin the right investment tool in times of financial crisis and inflation. He also believes that the primary cryptocurrency has educational functions. In the summer of 2020, he stated that BTC, as well as gold and silver, “make people smarter, richer, and stronger against the Fed.”
Having such a high opinion on the leading digital asset, it is no wonder that Kiyosaki is a bitcoin HODLer. In a recent tweet, he admitted buying BTC when its price was hovering around $6,000 and $9,000. True to his financial beliefs, he said profits are accumulated when one buys and not sells and vowed to purchase more BTC if its USD value dumps to $20K.
Not long ago, the author compared the cryptocurrency to “people’s money,” while gold was nicknamed “God’s money.”
In his view, the monetary problems caused by Fed with its COVID-19 countermeasures have turned the American national currency into “fake dollars.” He warned people not to save cash as their funds will get devaluated in times of recession. Instead, they should focus on bitcoin and gold to preserve their wealth.
Earlier this month, the bitcoin-loving mayor of New York City – Eric Adams – opined that BTC’s price drop could provide good buying opportunities for investors. A few days ago, he even received his first paycheck as a leader of the Big Apple in cryptocurrencies instead of dollars.
The government of the small Latin American nation, which became a symbol of bitcoin’s adoption – El Salvador – is also not worried about the crypto decline. Recently, it bought 410 more BTC worth $15 million.
With its purchase, the country increased its holdings to a total of 1,801 BTC. Converted in US dollars (at the time of writing these lines), the amount is worth more than $62 million.
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