Kiyosaki Holds Bitcoin Amid Market Dip, Plans Future Purchases
Robert Kiyosaki remains calm amidst recent market downturns, stating he will not sell his Bitcoin. He attributes the dip to immediate cash needs rather than a change in Bitcoin's long-term value.
Reasons for Holding Bitcoin
- Kiyosaki relies on steady income from real estate and private investments, reducing the need to liquidate assets like Bitcoin during downturns.
- He learned from past mistakes of panic selling and emphasizes learning from personal financial errors.
The price of Bitcoin fell to $95,000, a six-month low, after tech stock slumps led investors away from riskier assets. Despite this, Bitcoin long position liquidations were under 2% of total open interest, avoiding a broader market collapse.
In the last 24 hours, 92,658 traders liquidated positions totaling approximately $149.65 million, according to Coinglass.
Kiyosaki intends to purchase more Bitcoin when the market stabilizes, citing its fixed supply of 21 million as a reason for expected future strength.
The market is showing signs of stabilization. The recent 10% weekly drop and $900 million in liquidations indicate pressure but not widespread panic, as liquidity needs drive current selling.
