Robert Kiyosaki, a leading American businessman and author of Rich Dad Poor Dad, recently revealed that he is planning to enhance his Bitcoin portfolio during the market correction. The Founder of Rich Global LLC told his followers that he purchased the crypto asset when it was trading near $6,000 and $9,000.
Kiyosaki is not the only prominent figure who is holding Bitcoin. Ray Dalio, the Founder of Bridgewater Associates, revealed in May 2021 that he is a holder of the world’s most dominant digital asset. Additionally, he called Bitcoin ‘digital cash’.
BTC has crashed by almost 50% in the last two months. However, large holders of the cryptocurrency believe that its fundamentals are strong enough to support its long-term price growth. Kiyosaki said that the latest price crash is a buying opportunity for long-term holders.
“Your profits are made when you buy, not when you sell. [The] price of BTC is crashing. Great news. I bought Bitcoin at $6K and 9K. I will buy more if and when BTC tests $20k. Time to get richer is coming. Silver best bargain today. Silver still 50% below high,” he said.
Buying the Dip
Despite a massive reduction in its price, institutional holders increased their Bitcoin holdings. One such example is MicroStrategy. Even countries are now buying the BTC dip. El Salvador, the Central American nation which accepted Bitcoin as legal tender in the country last year, recently acquired 410 BTC in a deal worth $15 million.
“It's important to remember that countries such as El Salvador are paving the way with declaring Bitcoin a legal tender and are introducing new financial instruments such as the Volcano bonds that leverage natural mining resources. We can expect others in Latam to follow, like in Costa Rica, Argentina and beyond, who will elevate BTC as a model for the masses and an inclusive pathway to financial freedom,” the CEO of Paxful, Ray Youssef, said.
