Investor and “Rich Dad, Poor Dad” author Robert Kiyosaki disclosed on Friday that he sold his $2.25 million in Bitcoin (BTC) and is reinvesting the money into businesses he owns to generate additional cash flow.
Kiyosaki said that he acquired the BTC “years ago” when it was trading at around $6,000 and sold it at about $90,000. The profits from the investment will be funnelled into two “surgery centers” and a billboard business, he said.
The investment in these businesses is expected to yield $27,500 in tax-free monthly income by February 2026, he estimated.
Source: Robert Kiyosaki“I am still very bullish and optimistic on Bitcoin and will begin acquiring more with my positive cash flow,” he said. On Nov. 9, Kiyosaki forecast a BTC price target of $250,000 by 2026 and a $27,000 per ounce price target for gold.
The announcement came as a surprise to some investors, and during the worst drawdown in the current cycle, as Bitcoin fell below $85,000, briefly tapping $80,537 on Friday before rebounding back to about $84,000, the price at the time of this writing.
Related: Robert Kiyosaki says cash crunch driving crash, stays bullish on Bitcoin, gold
Despair grips investors, as some analysts say it’s the start of the next bear market
The Crypto Fear & Greed Index, a metric that tracks investor market sentiment, fell to a multi-year low of 11 on Friday, indicating “extreme fear,” according to CoinMarketCap.
The Crypto Fear & Greed Index fell to multi-year lows, indicating extreme levels of investor fear and caution. Source: CoinMarketCapBitcoin has dropped by over 33% from its all-time high above $126,000 reached in October, days before the historic market crash on Oct. 10 that triggered the most severe single-day liquidation in crypto history.
Peter Brandt, a veteran trader with decades of experience, said on Thursday that Bitcoin will reach $200,000 in Q3 2029, adding that the market flush is positive for BTC, which he remains long-term bullish on.
Record outflows from Bitcoin exchange-traded funds and the ongoing downturn signal short-term distress, rather than weakening institutional demand for BTC or deteriorating fundamentals, analysts at crypto exchange Bitfinex said on Friday.
Magazine: Bitcoin is ‘funny internet money’ during a crisis: Tezos co-founder
Source: https://cointelegraph.com/news/rich-dad-poor-dad-robert-kiyosaki-sells-btc?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
