Robert Kiyosaki, the renowned author of "Rich Dad Poor Dad," has informed his 2.8 million followers on X that he has no intention of selling his Bitcoin or gold, even as the market experiences a sharp decline.
"The everything bubbles are bursting," Kiyosaki stated in a post on Saturday, attributing the current market downturn to a global cash shortage. He elaborated, "The cause of all markets crashing is the world is in need of cash."
Kiyosaki anticipates what he terms "The Big Print," a scenario he believes will unfold as governments resort to extensive money creation to manage their escalating debt obligations, a thesis supported by Lawrence Lepard.
He predicted, "The Big Print is about to begin which will make gold, silver, Bitcoin, and Ethereum more valuable as fake money crashes." Kiyosaki advised individuals who require cash to consider selling certain assets, suggesting that panic often stems from liquidity needs rather than a lack of conviction in their investments.
Kiyosaki Plans to Increase Bitcoin Holdings Post-Crash
In a subsequent post, Kiyosaki reiterated his long-term perspective on Bitcoin. "I will buy more Bitcoin when crash is over," he declared, reminding his followers of Bitcoin (BTC)'s fixed supply cap of 21 million coins.
He also encouraged his audience to establish "Cashflow Clubs," inspired by his board game, emphasizing that collective learning can help individuals avoid common investment mistakes.
Meanwhile, crypto influencer Mister Crypto observed that the Bitcoin Fear and Greed Index has dropped significantly to 16, entering the "Extreme Fear" zone. This level is historically considered a potential buying opportunity.
Santiment Issues Caution on Bitcoin Bottom Calls
Santiment, a crypto analytics firm, is urging traders to exercise caution as social media platforms become saturated with claims that Bitcoin has already reached its market bottom. The firm noted that widespread confidence in a market floor often precedes further price declines. Bitcoin's brief dip below $95,000 on Friday had triggered a surge of posts suggesting that the worst was over.
Santiment's historical analysis indicates that market bottoms typically form when the majority of traders anticipate further price drops, rather than when they are actively calling for a rebound.