Key Points
- Robert Kiyosaki, author of “Rich Dad Poor Dad”, sees the dip in Bitcoin’s price as a prime buying opportunity.
- Kiyosaki advocates for long-term investment strategies over short-term trading due to potential tax implications.
Robert Kiyosaki, renowned for his unconventional views on finance and investment, perceives the ongoing dip in Bitcoin (BTC) price as a golden opportunity for astute investors to enter the market.
In a recent social media post, Kiyosaki, a staunch advocate for financial education and alternative investments, expressed his views on the current market situation that saw BTC fall below $60,000 on June 24, 2024.
Kiyosaki’s Investment Strategy
He shared that while Bitcoin is crashing and many are selling to protect their assets from the volatile crypto market, he is “waiting to buy more.” Kiyosaki highlighted the fluctuating nature of all markets and sees these fluctuations as prime opportunities for those who understand market dynamics.
He noted that many investors reap substantial profits through trading, which involves buying low and potentially selling high. However, he also pointed out that the problem with trading any asset lies in the taxes, specifically short-term capital gains taxes.
Kiyosaki advocates for a long-term investment strategy over short-term trading. He compares this strategy to Warren Buffett’s “buy and hold on forever” approach. According to him, this strategy not only mitigates the impact of short-term capital gains taxes but also aligns with his philosophy of building lasting wealth.
Building New Assets
Kiyosaki shared that his long-term investment approach involves “building new assets”, promoting value creation and innovation over short-term gains. He mentioned that he is a serial entrepreneur, currently working on two new startups.
While encouraging investors to engage in long-term investment opportunities, he acknowledged that not everyone has the same risk tolerance or financial goals. For those particularly fearful of market crashes, Kiyosaki suggested securing financial stability through traditional employment.
He advised, “If crashes terrify you, sell and hang on tight to your job, which is what most ’employees’ should do.” He urged investors to do what is best for them, warning that tough times are ahead. “Take care. Rough times ahead. Do what is best for you,” Kiyosaki stated.
