 ▲ Robert Kiyosaki, U.S. dollar (USD), Bitcoin (BTC), Ethereum (ETH), gold / AI-generated image |
As Bitcoin (BTC) prices threaten the $60,000 level and investor fear reaches a peak, Robert Kiyosaki, best-selling author of “Rich Dad Poor Dad,” is drawing fierce backlash from the community after calling the latest plunge a once-in-a-lifetime “bargain sale.”
According to cryptocurrency outlet U.Today on February 6 (local time), Kiyosaki described the roughly $700 billion wiped off the crypto market’s capitalization in recent days as a rare opportunity to buy assets at discounted prices, posting the view on his X (formerly Twitter) account. He argued that while ordinary consumers get excited about sales at grocery stores, they panic and flee when prices fall in financial markets, stressing that now is the time to buy Bitcoin, gold, and silver.
“Poor people sell assets out of fear, while the rich use crashes as sales periods to accumulate wealth,” Kiyosaki said. Framing the current market collapse as a rare chance to become wealthy, he urged followers to “think and act like the rich.” He also reiterated his long-held stance that dollars issued by the Federal Reserve are “fake money,” insisting that holding Bitcoin with real value is the only way to preserve economic freedom.
The crypto community, however, responded coolly to Kiyosaki’s advice. Many users noted that he has claimed for years that the “biggest economic crisis ever” was imminent, criticizing his forecasts as no longer credible and likening them to a “boy who cried wolf.” Others pointed out that he previously predicted Bitcoin would reach $350,000 by August 2024, only for the price to be far below that high, and urged him to stop promoting reckless hype.
Community members also voiced frustration that Kiyosaki imposes his philosophy while ignoring the substantial losses suffered by retail investors. One investor snapped, “Whether the market goes up or down, Kiyosaki repeats the same lines and acts like a marketer promoting his books.” Experts warned that with Bitcoin locked in a precarious battle around the $60,000 support level, such remarks could fuel panic buying or further losses.
Bitcoin has plunged from its all-time high of $126,000 and is now testing support in the low $60,000s. Despite the backlash, Kiyosaki insists he has no plans to sell and will continue accumulating whenever prices fall. Markets remain divided over whether his “bargain sale” rhetoric signals the end of the downturn or foreshadows another leg lower.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for losses incurred from investments based on this information. The content should be interpreted solely for informational purposes.*