Robert Kiyosaki, the well-known author of “Rich Dad, Poor Dad,” recently addressed the concerns of Bitcoin skeptics who argue that the cryptocurrency’s high price makes it unattainable or risky for new investors. In a statement shared on X (formerly Twitter), Kiyosaki countered this viewpoint by asserting his belief in Bitcoin’s ongoing potential for growth, despite its current valuation.
One of the primary arguments against Bitcoin often revolves around its price tag, with critics pointing out that it has reached levels that may seem prohibitive for entry. However, Kiyosaki dismissed these concerns, suggesting that while Bitcoin may indeed appear expensive now, its trajectory is poised for further appreciation. “And it is high … yet not as high as it’s going to go,” he affirmed, implying his optimism about Bitcoin’s future price movements.
Drawing from the investment principles articulated in his bestselling book, Kiyosaki emphasized a crucial lesson: “Your profit is made when you buy… Not when you sell.” This perspective underscores the importance of acquiring assets strategically, focusing on their potential for long-term growth rather than short-term price fluctuations.
Reflecting on hindsight, Kiyosaki acknowledged the allure of purchasing Bitcoin when it was significantly cheaper, reminiscing about the days when the cryptocurrency was priced as low as $10 per coin. However, he cautioned against dwelling on missed opportunities and encouraged prospective investors to adopt a proactive approach instead. “Don’t be a loser, buy a little, what you can afford and keep buying,” he advised, advocating for a consistent investment strategy that prioritizes accumulation over timing the market.
Bitcoin has emerged as a standout performer in the financial markets, particularly in recent years. In 2023 and continuing into 2024, Bitcoin has demonstrated resilience and robust growth despite periods of volatility and regulatory uncertainty. Its year-to-date performance has significantly outpaced traditional assets like the S&P 500, underscoring its appeal as a high-growth investment vehicle.
The buoyancy in Bitcoin’s price has been fueled by several factors, including the approval of spot Bitcoin ETFs and increasing institutional adoption. These developments have bolstered confidence among investors and analysts alike, with prominent figures such as Cathie Wood of Ark Invest predicting substantial future gains for the cryptocurrency. Wood has set ambitious price targets, projecting that Bitcoin could potentially reach as high as $3.8 million, driven by institutional inflows and the expansion of financial products centered around Bitcoin.
Kiyosaki’s endorsement of Bitcoin reflects a broader sentiment within the cryptocurrency community, which believes in its transformative potential within the global financial landscape. His advice underscores the importance of looking beyond short-term price volatility and adopting a strategic, long-term investment approach. By emphasizing the principle of accumulating assets gradually over time, Kiyosaki encourages individuals to participate in the evolving digital economy and position themselves for potential financial growth and security in the years ahead.