Bitcoin hits $121,000 - Rich Dad Poor Dad author Robert Kiyosaki urges newcomers: Reflect before it's too late
What does Bitcoin's latest price surge mean for investors?
Kiyosaki, author of the best-selling book 'Rich Dad Poor Dad,' took to post on social media X with a message not only for crypto veterans but also for those who are still sitting on the sidelines, his tone was triumphant but also warning, according to The Street.
He wrote in an X post that, "Great news for those who already have some Bitcoin. Bad news for who… for whatever reason… never 'pulled the trigger'. They own nothing. As warned in previous X…Pigs get fat…. Hogs get slaughtered," as quoted in the report.
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Is Robert Kiyosaki still buying Bitcoin?
Even though he disclosed he had just bought another Bitcoin, Kiyosaki indicated that he is waiting on more purchases as the direction of the overall economy becomes more apparent, as reported by The Street.
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What advice is Kiyosaki offering new crypto investors?
Kiyosaki cautioned against being greedy but urged newcomers to get into crypto, even with just a small percentage of a coin, according to the report. He warned that, "As tempting as Bitcoin going to $200k to $1 Million is….I do want to be a HOG and get slaughtered….If you have not begun acquiring BITCOIN….I suggest starting very small… starting with a Satoshi," as quoted by The Street in its report. Satoshi refers to the smallest denomination of Bitcoin, as per the report.
He also went on to speculate on the actions of billionaire investor Warren Buffett, observing that Buffett's $350 billion pile means that he has been waiting for a crash to pick up some quality assets, as reported by The Street.
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Is this a warning or an opportunity?
The author ended his social media post with a harsh warning but also with a glimmer of hope, saying, "Millions are about to become poorer," but he also offered hope, saying those who are smart, patient, and alert could emerge much richer, as reported by The Street.
While, even previously, Kiyosaki has warned that if Bitcoin ultimately rises to $1 million per coin, many people will regret never having bought at the current price, and if all they could have purchased was a single satoshi, the feeling would be the same: "You will be saying, 'I wish I had bought more,'" as quoteed in the report.
FAQs
I've never bought Bitcoin. Is it too late now?
Not according to Kiyosaki. He suggests it's not too late, and recommends starting with a very small amount, even just a satoshi.
Why is Kiyosaki cautious even though he believes Bitcoin will go up?
He's worried about being greedy during volatile times and is waiting for more clarity in the economy before buying more, as per The Street report.
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