Bitcoin
Is Bitcoin expensive at current levels? ‘Rich Dad Poor Day’ Author Robert Kiyosaki Says King Crypto ‘Not As High As It Goes’
Author of “Rich Dad, Poor Dad” Robert Kiyosaki on Friday addressed concerns among Bitcoin BTC/USD skeptics regarding the expensive nature of the cutting-edge crypto.
What happened: Kiyosaki mentioned in a post on X, formerly Twitter, that the most common excuse people give for their skepticism towards Bitcoin is that “it’s too expensive” and “it’s high.”
The Japanese-American businessman, however, said he does not believe the argument.
“And it’s loud…but not as loud as it can get,” he said.
To defend his position, the bestselling author referred to his book.
“I simply repeat my rich dad’s lesson about investing…. ‘Your profit is made when you buy…. Not when you sell it,’” he said.
“We all wish we had bought Bitcoin when it was $10… but those days are long gone. Don’t be a loser, buy a little, what you can afford and keep buying,” he added.
See too: How to Buy Bitcoin (BTC)
Because it’s important: Bitcoin was on the rise in 2023 and has recovered strongly this year. Crypto is among the best-performing asset classes this year despite the sideways movement seen since reaching an all-time high of $73,750.07 on March 14. The dynamism reflected the optimism generated by the approval of spot Bitcoin ETFs.
Year-to-date, Bitcoin has gained more than 56% compared to the S&P 500 index’s nearly 14% gain.
Uncertainty about the regulatory environment in an election year may have made crypto investors cautious. Optimistic analysts see an explosion in the price of Bitcoin in the medium and long term. Ark Invest Katie Wood has a $2.3 billion price target for the top crypto. At the Bitcoin Investor Day conference held at the end of March, fund manager said crypto could reach $3.8 billion, thanks to institutional adoption and new ETF products.
At last check, Bitcoin fell 1.49% to $66,119.44, according to Data from Benzinga Pro.
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