One of the most famous investors in America, Rich Dad Poor Dad author Robert Kiyosaki has announced that he plans on buying Bitcoin (BTC) at massively discounted prices.
The investor, who has two million Twitter followers and is widely followed in the crypto community tells his supporters that he is unfazed by the current Bitcoin bear market and will continue to accumulate crypto assets.
Kiyosaki says he's waiting for Bitcoin to crash nearly 95% from its current value of around $20,000. If his predictions come true then people who buy coins at such low prices will be able to make a fortune.
"RICH Dad lesson: 'LOSERS quit when they lose.' Bitcoin losers are quitting… Winners learn from their losses. I am waiting for Bitcoin to 'test' $1,100. If it recovers, I will buy more. If it does not, I will wait for losers to 'capitulate,' quit, then buy more."
Kiyosaki said his bottom target for Bitcoin was below $20,000 when it was still trading at over $30,000 in May.
"BITCOIN CRASHING. Great news. As stated in previous tweets, I am waiting for Bitcoin to crash to $20,000. Will then wait for test of bottom, which might be $17,000. Once I know bottom is in, I back up the truck. Crashes are best times to get rich. Take care."
Bitcoin briefly touched a value of $17,600 this month. Kiyosaki believes Bitcoin could go at a colossal discount, but he's still long-term bullish on BTC.
"I remain bullish on Bitcoin's future. Waiting for test of new bottom. $20,000? $14,000? $11,000? $9,000? Why do I remain bullish? [Because I believe that the] Fed and Treasury are corrupt organizations."
A few weeks ago, Kiyosaki had reflected on the bearish scenario seen throughout 2022 in the digital asset market in a video for his YouTube channel which he shared with Jeff Wang, a contributor to the Rich Dad crypto newsletter.
During the broadcast, while the investor acknowledged that crypto is indeed in bearish territory, he said that "so is the stock market and so is the bond market."
Both discussed the most recent correlation of cryptocurrencies with the US stock market and shared their mistrust of the US Federal Reserve (FED). In the past, Kiyosaki has reiterated his prediction of an economic downturn, calling Bitcoin the best haven for inflation, alongside gold and silver.
The author also acknowledged that he has " a lot of money " invested in the new asset class. Beyond Bitcoin, which he started buying when the pandemic hit in 2020, Kiyosaki has admitted that he has more recently added other cryptocurrencies such as Ethereum and Solana to his personal portfolio.