Financial market commentator Robert Kiyosaki said Monday he would continue to accumulate Bitcoin BTC/USD despite finding it “expensive” at $107,000 apiece.
What Happened: In an X post, Kiyosaki, the acclaimed author of “Rich Dad Poor Dad”, shared his experience with the apex cryptocurrency.
He admitted to entering the Bitcoin market “late,” purchasing his first coin at $6,000. Despite initially considering this price steep, Kiyosaki now wishes he had invested more at that rate.
“Today Bitcoin is $107,000 a coin. Again my mind says ‘That's expensive’ but I am buying more,” he said.
The point he seemingly tried to convey is that what appears expensive today may be seen as cheaper in the future, a belief based on his conviction in Bitcoin’s long-term prospects.
“If and when Bitcoin's sells for $1 million a coin, I will once again be saying ‘I wish I had bought more,'” Kiyosaki said.
He encouraged others to invest, even if only in one Satoshi, stressing the value of accumulation rather than focusing on short-term price tags.
See Also: Inside Tom Lee’s Plan To Build ‘MicroStrategy Of Ethereum’ At BitMine
Why It Matters: Kiyosaki’s bullish stance on Bitcoin comes amid his warnings of a potential global monetary collapse. Last week, he predicted a global debt bubble burst and advised his followers to invest in gold, silver and Bitcoin
While Kiyosaki is a staunch supporter of Bitcoin, his predictions should be taken with a grain of salt. Some of his past predictions were way off target.
He projected Bitcoin would hit $100,000 in June 2024, a level that the apex cryptocurrency hit six months later. On one instance, he even painted a $350,000 price target by August 2024.
Kiyosaki has projected Bitcoin to hit $250,000 within this year, attributing it to a potential collapse of the central bank system.
Price Action: At the time of writing, BTC was exchanging hands at $107,161.21, down 1.29% in the last 24 hours, according to data from Benzinga Pro
Photo Courtesy: Shutterstock/Grower C More
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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