- Robert Kiyosaki urges investors to buy Bitcoin now despite its high price, emphasizing profit is made when buying, not selling.
- Bitcoin’s recent dip below $67,000 spurred significant buying activity, marking the second-largest investor interest spike in two months.
- Institutional holdings in Bitcoin, driven by spot ETFs, highlight growing confidence in its long-term potential.
In a recent tweet, financial educator and author Robert Kiyosaki, expressed his frustration with people reluctant to invest in Bitcoin due to its perceived high price. Emphasizing the importance of entering the market at any price point, Kiyosaki reiterated his rich dad’s lesson on investing: “Profit is made when you buy… not when you sell.”
This perspective is particularly relevant as Bitcoin’s price continues to experience volatility, currently trading at $66,176.00, with a 24-hour trading volume of $26,539,309,686 USD. Despite a 0.80% decline in the last 24 hours, Bitcoin’s dominance in the crypto market remains substantial.
Recent Price Activity and Investor Response
According to Santiment data, Bitcoin’s recent dip below $67,000 on June 13 triggered a significant surge in buying activity, marking the second-largest spike in investor interest over the past two months. This buying frenzy shows a similar pattern observed in May 2024, where a sudden price increase enticed traders to jump in, anticipating further price hikes and potential profits.
Institutional Holdings on the Rise
Investment asset management firms have increasingly been accumulating Bitcoin, with significant contributions from the introduction of spot Bitcoin ETFs. BlackRock, for instance, has reported substantial growth in its Bitcoin assets, with its IBIT amassing over 300,000 BTC in Assets Under Management (AUM) within just five months. This trend highlights a growing institutional interest in Bitcoin, which is seen as a strong indicator of confidence in the cryptocurrency’s long-term potential.
Bitcoin Dominance and Market Position
Despite recent price fluctuations, Bitcoin continues to outperform other digital currencies, maintaining a dominant position in the crypto market. The Bitcoin Dominance metric, which measures BTC’s share of the total cryptocurrency market capitalization, underscores Bitcoin’s relative strength compared to its peers. This dominance is crucial for the cryptocurrency’s sustained relevance and influence in the broader market.
Kiyosaki’s Bold Prediction
As reported on June 6th by Crypto News Land, Kiyosaki had made a bold prediction that Bitcoin will reach $350,000 by August 25, 2024. While this projection is speculative, it has sparked widespread interest within the cryptocurrency community. Kiyosaki’s confidence extends beyond Bitcoin to other cryptocurrencies like Ethereum and Solana, which he also expects to see significant rises.
Despite price volatility, Bitcoin’s strong market position and increasing institutional investments indicate a productive future for the cryptocurrency. Investors, both retail and institutional, continue to demonstrate confidence in Bitcoin’s potential, reinforcing its status as a leading digital asset.
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The post Bitcoin Profits Are Made When Bought Not Sold According to Financial Educator Robert Kiyosaki appeared first on Crypto News Land.
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