Robert Kiyosaki, the author of “Rich Dad Poor Dad” and a prominent financial educator, has recently sold $2.25 million worth of Bitcoin. This sale yielded approximately $90,000, showcasing his strategy to convert speculative gains into stable assets. Kiyosaki made this announcement during a significant downturn in the cryptocurrency market, following a report of Bitcoin whale Owen Gunden selling off nearly his entire $1.3 billion BTC holdings.
Kiyosaki’s Bitcoin Sale Details
Kiyosaki disclosed on X (formerly Twitter) that he had initially purchased Bitcoin at $6,000 per coin. He intends to use the proceeds from the sale to make investments in two surgery centers and a billboard business. He estimates that these new ventures could generate an additional cash flow of approximately $27,500 per month by next February.
- Amount Sold: $2.25 million in Bitcoin
- Proceeds: Approximately $90,000
- Initial Purchase Price: $6,000 per coin
- Expected Monthly Cash Flow: $27,500
- Investment Focus: Surgery centers and billboard business
Kiyosaki highlighted that this decision aligns with his long-term philosophy of investing in assets that produce steady cash flow. He stated that the addition of these investments would bolster his already extensive portfolio in real estate.
Long-Term Views on Bitcoin
Despite the sale, Kiyosaki remains optimistic about Bitcoin’s future. He plans to re-enter the market when conditions are favorable, emphasizing that his actions are not a sign of disapproval for Bitcoin but a practical application of his investment principles. He referred to his method as a “get rich plan” that he has employed for over 65 years.
In his message, Kiyosaki also warned about the current economic climate, urging others to contemplate their own wealth-building strategies in these uncertain times.
The State of the Crypto Market
Kiyosaki’s sale coincided with Bitcoin experiencing its worst month since 2022. The cryptocurrency dropped as much as 7.6% on a recent Friday, falling to around $80,553. November now appears set to record nearly 25% losses, driven by multiple factors, including spot selling and reduced demand from investors.
As of now, analysts are closely monitoring the $80,000 level, anticipating that it may temporarily stabilize prices, while institutional investment appetite and long-term optimism around cryptocurrencies remain robust.
Market Analysis
- Current Price of Bitcoin: Approximately $80,553
- Monthly Losses: Nearly 25%
- Market Trends: Spot selling and profit-taking among investors
Industry experts like Sumit Gupta, Co-founder of CoinDCX, argue that the recent downturn reflects typical market behavior rather than underlying weaknesses. Gupta asserts that the fundamentals supporting cryptocurrencies, including Bitcoin and Ethereum, remain strong. He observes a disciplined approach among Indian investors, focusing on accumulating high-quality assets rather than panicking during market corrections.
This situation highlights the ongoing evolution of the cryptocurrency landscape, drawing attention to the need for strategic investment decisions in times of market volatility.
