As the majority of assets in the cryptocurrency market are witnessing a major dip in price, its representative, Bitcoin (BTC), is no exception, but popular investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ Robert Kiyosaki sees the decline as a golden opportunity.
Specifically, Kiyosaki has identified the current market crash as the time to stock up on the assets that are declining, including Bitcoin, gold, and silver, arguing that moments such as this one are the time to be brave when others are cowering, according to his X posts on August 5.
‘Brave get richer, cowards get poorer’
According to the finance educator, at the moment, “Bitcoin and all markets [are] crashing.” However:
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“Crashes are times when the brave get richer and the cowards get poorer… Because they sell or do nothing. The world is filled with poor cowards. Be smart. Grow some balls, stay calm, and invest when the cowards are quitting.”
Indeed, his words echo those of legendary investor Warren Buffett, who famously told the shareholders of his Berkshire Hathaway (NYSE: BRK.A) to be “fearful when others are greedy, and greedy when others are fearful,” referring to the cycles of ‘fear’ and ‘greed’ in the world of investing.
As a reminder, Kiyosaki has earlier also commented on the current economic conditions, which saw the stock market wipe out trillions of dollars, calling them “great news” and referring to them as a unique opportunity for investors to grow their wealth, as Finbold reported on August 3.
Bitcoin price analysis
Meanwhile, the flagship decentralized finance (DeFi) asset has suffered a massive drop in price, dipping 12.47% during the last 24 hours, adding up to the 23.82% fall across the previous seven days and accumulating a decline of 6.72% over the past month, currently trading at $52,950.
All things considered, Kiyosaki may have a point in his most recent observations, especially considering the fact that most crypto experts share a view that Bitcoin will recover from its current losses and continue upwards in the years to come, perhaps even hitting the $95,000 target this year.
That said, trends in the crypto market can sometimes change on a whim, so doing one’s own due diligence and careful research, as well as keeping up with any Bitcoin news, prediction pieces, and relevant developments, is critical when investing large sums of money.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
