He added that he will buy more if the cryptocurrency recovers from that price level.
Robert Kiyosaki on Bitcoin Testing $1,100
The author of Rich Dad Poor Dad, Robert Kiyosaki, has returned with a new bitcoin outlook. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
The famous author tweeted a “Rich Dad lesson” Monday night. He explained that “losers quit when they lose,” but “winners learn from their losses.” Asserting that “Bitcoin losers are quitting,” he said he is waiting for BTC to test $1,100, adding that he will buy more if the crypto recovers. “If it does not, I will wait for losers to ‘capitulate’ quit then buy more,” he further stated.
Many people on Twitter disagreed with Kiyosaki that bitcoin will ever see $1,100. Some suspected that the Rich Dad Poor Dad author made a typo and he actually meant $11K.
The famed investor has been saying for several months that he will buy more bitcoin when its price bottoms out. When BTC began declining heavily in recent months, he started saying that the crypto could bottom out at $20K. When BTC continued to fall, he revised his bottom price forecast several times.
In May, Kiyosaki indicated that BTC could bottom out at $9,000. The price of bitcoin was hovering around $30,000 at the time.
He explained that he was still bullish on bitcoin because he sees the Federal Reserve and the Treasury Department as corrupt organizations. He also said that once he knows that the bottom is in, he will “back up the truck,” noting that “Crashes are the best times to get rich.”
Kiyosaki also made some dire predictions about the U.S. economy. Last month, he said the stock and bond markets are crashing, predicting a depression and civil unrest. In April, he claimed that hyperinflation is here. In March, he warned that the U.S. dollar is about to implode, advising investors to buy bitcoin, ethereum, and solana.
At the time of writing, bitcoin is trading at $20,277, down almost 3% over the past 24 hours and 30% over the last 30 days.