CoinDesk reports:
“Rich Dad Poor Dad” author Robert Kiyosaki has announced his plans to buy more Bitcoin as the price of the cryptocurrency king continues to decline.
Kiyosaki told his 2.5 million followers that he has a “buy and hold” investment strategy when it comes to Bitcoin.
“Bitcoin is crashing. Most people should sell. I am waiting to buy more. All markets go up and down. Many people make a lot of money ‘trading,’ which means buying low and selling high. The problem with ‘trading’ any asset is taxes, especially ‘short-term’ capital gains tax. My strategy is similar to Warren Buffet’s strategy: ‘buy and hold forever.'”
“What do I do if I don’t trade assets? I spend my time building new assets, which is why I am a ‘serial entrepreneur.’ I am currently working on two new ‘startups.'”
“If the crash scares you, then sell and hold on to your job, which is what most ’employees’ should do. Simply put, entrepreneurs and employees are two sides of the same coin. Be careful. Tough times ahead. Do what’s best for you.”
The bestselling author believes that the value of Bitcoin will continue to rise.
“I am frustrated with encouraging people to buy Bitcoin. I have received a lot of lame excuses. The most common excuse is: Bitcoin is too expensive. It is high, but it has not reached its expected height. I am just repeating the investing lesson from my rich dad: you make your money when you buy. Not when you sell. We all wish we bought Bitcoin at $10, but those days are gone. Don’t be a loser, buy what you can afford, and keep buying.”
At the time of writing, the trading price of Bitcoin is $61,896, up 4% in the past 24 hours after dropping to a 24-hour low of $59,462.
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