Rich Dad Poor Dad Author Robert Kiyosaki Sells $2.2 Million in Bitcoin at $90K – Here’s Why
TLDR
- Robert Kiyosaki sold $2.25 million worth of Bitcoin that he bought years ago for around $6,000 per coin and sold at approximately $90,000
- The Rich Dad Poor Dad author is investing proceeds into two surgery centers and a billboard business, expecting $27,500 in monthly income by February 2026
- Kiyosaki maintains he is still bullish on Bitcoin and plans to buy more with his new cash flow from these businesses
- Bitcoin dropped below $85,000 on Friday, reaching $80,537 before recovering to around $84,000
- The Crypto Fear & Greed Index fell to 11 on Friday, indicating extreme fear among investors at multi-year lows
Robert Kiyosaki, the author of Rich Dad Poor Dad, announced on Friday that he sold $2.25 million worth of Bitcoin. The investor disclosed he bought the cryptocurrency years ago when it traded around $6,000 per coin and sold at approximately $90,000.
Kiyosaki plans to reinvest the profits into businesses he owns. He will use the money to fund two surgery centers and a billboard business. The author expects these investments to generate about $27,500 in tax-free monthly income by February 2026.
The sale represents a departure from Kiyosaki’s usual public stance on Bitcoin. He has been a vocal supporter of cryptocurrency for years. On November 9, he forecast Bitcoin would reach $250,000 by 2026 and predicted gold would hit $27,000 per ounce.
Despite selling his holdings, Kiyosaki stated he remains bullish on Bitcoin. He said he will begin acquiring more cryptocurrency with his positive cash flow. The author explained this strategy has been his wealth-building plan for over 65 years, dating back to when he played Monopoly with his mentor.
The announcement came during a difficult period for Bitcoin markets. The cryptocurrency fell below $85,000 on Friday, briefly dropping to $80,537 before rebounding to around $84,000. This represents a decline of over 33% from its all-time high above $126,000 reached in October.
Market Sentiment Reaches Extreme Fear Levels
The Crypto Fear & Greed Index dropped to 11 on Friday, according to CoinMarketCap. This reading indicates extreme fear among investors and marks a multi-year low for the sentiment metric.
Source: CoinMarketCap
Bitcoin experienced its worst drawdown of the current market cycle. The drop followed a historic market crash on October 10 that triggered the most severe single-day liquidation event in crypto history.
Analysts at crypto exchange Bitfinex said on Friday that record outflows from Bitcoin exchange-traded funds signal short-term distress. However, they noted this does not indicate weakening institutional demand for Bitcoin or deteriorating fundamentals.
Veteran Traders Offer Long-Term Price Predictions
Peter Brandt, a veteran trader with decades of experience, shared his outlook on Thursday. He predicted Bitcoin will reach $200,000 in the third quarter of 2029. Brandt said the current market flush is positive for Bitcoin and maintains a long-term bullish position.
However, Brandt warned that Bitcoin could still fall to $58,000 before beginning its next major rally. Arthur Hayes suggested the market could be close to a bottom. He advised investors to wait for a pullback in U.S. stocks before making large investments.
BlackRock has been transferring Bitcoin and Ethereum to Coinbase during the market downturn. The asset manager made another transfer yesterday as part of repeated movements during the ongoing price decline. Bitcoin traded at approximately $84,000 at the time of Kiyosaki’s announcement on Friday.
The post Rich Dad Poor Dad Author Robert Kiyosaki Sells $2.2 Million in Bitcoin at $90K – Here’s Why appeared first on CoinCentral.
You May Also Like
Mitosis Price Flashes a Massive Breakout Hope; Cup-And-Handle Pattern Signals MITO Targeting 50% Rally To $0.115305 Level
Spot ETH ETFs Surge: Remarkable $48M Inflow Streak Continues
