Personal finance author and investor Robert Kiyosaki is ready to purchase more Bitcoin if it falls by about 25% from the current level.
In a new tweet, the author of the best-seller Rich Dad Poor Dad tells his 1.6 million followers that he will resume buying Bitcoin if it continues to correct below $30,000.
“Bitcoin crashing. Great news. When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment.”
At the time of writing, Bitcoin had recovered by nearly 10% to about $37,203 from the weekend low of around $33,500. Bitcoin would need a significant correction to reach Kiyosaki’s preferred entry level.
In making his case for investing in Bitcoin, the renowned personal finance author argues that the flagship cryptocurrency and the two leading precious metals could serve as hedges against the shortcomings of the current financial system.
“Remember the problem is not gold, silver, or Bitcoin. [The] problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.”
In mid-May, Kiyosaki had tweeted a similar message urging his followers to prepare themselves for buying opportunities after Bitcoin fell to around $50,000 from its record high. The drop came after Tesla CEO Elon Musk announced the electric carmaker would no longer accept Bitcoin for payments over environmental concerns.
“Bitcoin crashing. Good news. Getting ready to buy more. Remember the problem is not Elon Musk or Bitcoin. The problems are the Fed, Treasury, and Biden. Gold, silver and Bitcoin are the solutions. Take care.”
In April, Kiyosaki predicted that Bitcoin will reach a seven-figure price level in the coming years.
“I bought Bitcoin at $9,000. I wish I bought it at 10 cents like a lot of people did. But now I look like a genius because today it’s around $55,000… and I think it’s going to go to $1.2 million in five more years.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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