Why Bitcoin Is a Long-Term Hold, Robert Kiyosaki Explains

Robert Kiyosaki, author of ‘Rich Dad, Poor Dad,’ has dropped an explanation on how he approaches Bitcoin (BTC). The author’s update is coming amid a significant drop in the value of the flagship cryptocurrency in the market. Kiyosaki Views Bitcoin Like Gold and Silver According to Kiyosaki, Bitcoin is a long-term hold asset that he invests in just like gold and silver. He noted that when he talks about Bitcoin, which he owns, it is not promotional, so it could increase in value for him to sell. Rather, the entrepreneur and author says he buys the asset to hold it as a long-term investment plan . He approaches Bitcoin as a hedge against the deflationary effects of holding on to fiat currency. This explains the reason for his continued accumulation of digital gold. “I rarely sell, gold, silver, and Bitcoin,” Kiyosaki wrote. This implies that the entrepreneur does not trade in Bitcoin as a speculative asset. He also does not hype the benefits to get more people on board and drive up prices, so he could sell. Kiyosaki has always advocated the need for investors in the financial space to move away from fiat currency, as the effects of inflation could negatively impact their funds. He appears to be practicing the advice he dishes out to his nearly 3 million followers on X. Robert Kiyosaki Embraces Volatility as a Buying Opportunity Interestingly, Kiyosaki remains open to the volatility of Bitcoin as an investment option. In a recent comment at the beginning of August, the author welcomed the idea that it was possible for Bitcoin to crash to $90,000 due to market fluctuations. He considers such a development as an opportunity to increase his portfolio. The author’s comments suggest his unwavering commitment to the digital asset and his lack of trust in traditional fiat currencies. Bitcoin’s Price Outlook Bitcoin has dipped significantly recently and remains stuck in the $108,000 range. As of this writing, the asset is changing hands at $108,394.30, representing a 0.04% increase in the last 24 hours. The coin briefly climbed to a peak of $109,491.00 but could not sustain the upward momentum. This might be as a result of a huge drop in trading volume by 38.31% to $44.05 billion within the same time frame. The post Why Bitcoin Is a Long-Term Hold, Robert Kiyosaki Explains appeared first on TheCoinrise.com .