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Here’s what Bitcoin price Robert Kiyosaki is waiting for to ‘back up the truck’

Here’s what Bitcoin price Robert Kiyosaki is waiting for to ‘back up the truck’

As the cryptocurrency sector increases its presence in the mainstream, Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ and a vocal Bitcoin (BTC) supporter, has recently shared that he would buy more of the maiden cryptocurrency if it dropped to a certain price level.

Specifically, Kiyosaki interviewed a representative of Doomberg, the anonymous Twitter account of a small team of industry consultants coming from the commodity sector respected for their expertise on macroeconomic issues, in the episode of The Rich Dad Radio Show streamed on February 15.

Replying to Doomberg’s view that crypto, “at least in this first generation,” was “nothing more than a giant Ponzi scheme, where the sophisticated have fleeced the unsophisticated,” but that he was interested in the technology and might be induced to buy it at the right price, Kiyosaki revealed his experience with buying Bitcoin:

“I studied technical analysis, and what went to $20,000 went down to almost zero, which went back to $1,000, $2,000, $3000. I kept waiting for it to keep crashing, so when it hit $6,000, I backed up the truck and bought some.”

Waiting for $8,000 to buy Bitcoin

As Doomberg agreed that the $5,000-$6,000 range would be an enticing price to buy Bitcoin for the first time, Kiyosaki went on to state that he would even buy it if it got down to around $8,000:

“Heck, if it gets down to like $8,000, I’m backing up the truck, you know what I mean?”

Earlier, the ‘Rich Dad Poor Dad’ author revealed some gloomy predictions about the global economic outlook of a “giant crash coming,” at the same time praising Bitcoin, gold, and silver as alternatives to the ‘fake’ United States dollar, as Finbold reported on February 13.

He had also labeled Bitcoin as one of the three “hottest subjects on earth” alongside silver and gold, referring to it as “people’s money” and credited its bullish rally from January to the increasing demand for alternative investment products.

Bitcoin price analysis

In the meantime, the flagship decentralized finance (DeFi) asset is currently trading at the price of $24,565, recording an impressive daily gain of 7.98%, adding up to the 7.05% increase over the previous week and the 16.01% growth during the past 30 days.

Bitcoin 7-day price chart. Source: Finbold

As things stand, both Doomberg and Kiyosaki are in for a long wait as Bitcoin has started racing under the optimistic sentiment on the crypto market and positive developments such as Interactive Brokers, a global electronic broker with a valuation of about $340 billion, announcing the launch of crypto trading in Hong Kong. 

Featured image via Cavaleria Com YouTube

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