The investment legend shared that he will buy more Bitcoin if it drops to a certain price level.
Investors will buy Bitcoin at these levels
As the cryptocurrency industry increases its presence in the mainstream, Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad’ and a supporter of Bitcoin (BTC), recently shared that he will buy more of Bitcoin if it drops to a certain price level.
In particular, on the February 15 episode of The Rich Dad Radio Show, Kiyosaki interviewed a representative of Doomberg, the anonymous Twitter account of a small team of industry advisors from the commodities sector respected for their expertise in macroeconomic issues.
Responding to Doomberg’s view that crypto ‘at least in this first generation’ is ‘nothing but a giant Ponzi scheme where the sophisticated robs the ignorant’, Kiyosaki explained his experience of buying Bitcoin, stating that he is interested in technology and can be encouraged to buy it at the right price. :
“I read technical analysis and what went to $20,000 went down to almost zero, then back to $1,000, $2,000, $3,000. I expected it to continue falling, so when it hit $6,000, I bought some.”
Waiting for $8,000 to buy Bitcoin
While Doomberg acknowledged that the $5,000-$6,000 range would be an attractive price to buy Bitcoin for the first time, Kiyosaki continued by stating that he would even buy it if it drops to around $8,000:
“Damn, if it goes down like $8,000, I take a big position back, you know what I mean?”
Earlier, the ‘Rich Dad Poor Dad’ author offered some gloomy predictions about the global economic outlook of a ‘giant looming slump’ while also praising Bitcoin, gold and silver as alternatives to the ‘fake’ US dollar.
He also labeled Bitcoin as one of the ‘three hottest topics in the world’ alongside silver and gold, referred to Bitcoin as the ‘people’s money’ and attributed the January bullish rally to increased demand for alternative investment products.
BTC price analysis
According to cryptokoin.com data, BTC is currently trading at $23,712. It recorded a one-day loss of 3.5%, adding to the 8.6% increase from the previous week and the 12.01% growth in the last 30 days.
In the current situation, Doomberg and Kiyosaki are on a long wait as Bitcoin starts to compete under positive developments such as the optimistic mood in the crypto market and Interactive Brokers, a global electronic broker valued at around $340 billion, and announcing the start of crypto trading in Hong Kong.
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