Author Robert Kiyosaki has revealed that he sold $2.25 million worth of Bitcoin (BTC) to invest in income-generating businesses, marking a surprising shift from his previous vow not to liquidate his cryptocurrency holdings.
In the past, the Rich Dad Poor Dad author had consistently stated that he would not sell his Bitcoin despite market volatility, emphasizing that he did not need cash and viewing the cryptocurrency as a long-term store of value and a hedge against fiat currency risks.
According to Kiyosaki, the Bitcoin he sold had originally been purchased at $6,000 per coin and was sold at approximately $90,000 per coin, he said in an X post on November 22.
He stated that he is now using the proceeds to acquire two surgery centers and invest in a billboard business, ventures expected to generate around $27,500 in monthly income by February next year, tax-free.
Combined with his existing cash-flow positive real estate and business holdings, these investments significantly strengthen his overall income position.
Despite the liquidation, Kiyosaki remains bullish on Bitcoin, stating that he plans to acquire more as his positive cash flow allows. He framed this move as part of his long-standing wealth-building strategy, converting assets into cash-flowing businesses, a real-world application of the principles behind his Cashflow board game.
Notably, the financial educator has maintained that an economic crash is likely to wipe out wealth. However, for safety and preservation of wealth, Kiyosaki has recommended investing in Bitcoin, silver, and gold.
Bitcoin price crash
The announcement comes as Bitcoin continues to suffer one of its worst collapses in recent history. The asset, long holding the $80,000 support level, was trading at $84,497 as of press time, down more than 12% on the weekly timeline.
As things stand, Bitcoin is on track for its worst monthly performance since the 2022 crypto collapse. The cryptocurrency has dropped roughly 23% in November, marking its steepest monthly decline since June 2022, when the TerraUSD collapse triggered widespread failures across the sector.
At the same time, Bitcoin remains more than 30% below its early-October record, following massive liquidations on October 10 that erased $19 billion in leveraged bets and wiped out about $1.5 trillion in overall crypto market value.
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Source: https://finbold.com/r-kiyosaki-announces-dumping-bitcoin-for-these-investments/
