Robert Kiyosaki dumps $2.25M in Bitcoin but stays bullish

Robert Kiyosaki, the bestselling author of “Rich Dad Poor Dad” and a Bitcoin supporter, released a statement on Friday, November 21, stating that he had decided to sell his Bitcoin worth $2.25 million. According to Kiyosaki, he aims to reinvest these funds into his businesses to generate more cash flow.

According to sources, Kiyosaki realized a substantial profit from the sale. He had previously revealed that he purchased the Bitcoin years ago at around $6,000 per coin and sold it this time for roughly $90,000 each.

The Bitcoin supporter outlined his plans for the profits he acquired. According to him, he intends to put these profits into two “surgery centers” and a billboard business.

Kiyosaki also shared his expectations for these investments, pointing out that he anticipates the Investments will generate $27,500 in tax-free monthly income by February 2026. 

The fate of Bitcoin’s price sparks debate among crypto investors 

Regarding Kiyosaki’s decision to sell his Bitcoins, the bestselling author stated that he still has an optimistic view about Bitcoin. He also vowed to start purchasing more of the cryptocurrency with his extra cash flow.

Meanwhile, on November 9, Kiyosaki forecasted that Bitcoin’s price could record an all-time high of $250,000 by 2026 and gold could reach $27,000 per ounce the same year.

This prediction shocked several investors because at the time he released his speculations on Bitcoin, the price of the cryptocurrency had drastically decreased below $85,000, marking one of its toughest times. At this time, it was trading at $80,537 before recovering to approximately $84,941.96. However, this record still reflects a decline of 2.69% in the past 24 hours, according to data from CoinMarketCap.

Considering the current situation, the Crypto Fear & Greed Index, a tool that strives to measure the overall sentiment of the cryptocurrency market, decreased to a low of 11 on Friday this week. Based on CoinMarketCap’s interpretation, this level illustrated that investors in the market were extremely afraid.

When reporters reached out to some of these investors to uncover the reason for their extreme fear, they cited recent reports that mentioned the price of Bitcoin had dropped more than 33% from its peak of over $126,000, which it had hit in October. 

Notably, this peak record was achieved just a few days before the significant market crash that occurred on October 10, resulting in the largest single-day sell-off in crypto history.

Peter Brandt says he is optimistic about Bitcoin’s  long-term future

On Thursday, November 20, Peter Brandt, an experienced trader with many years of experience in the field, expressed his belief that Bitcoin will reach a record high of $200,000 in the third quarter of 2029. 

Brandt also argued that the challenges presented in the current market were good for Bitcoin’s progress. When asked about his feelings towards the cryptocurrency, he expressed optimism about its long-term future. 

On the other hand, analysts at crypto exchange Bitfinex noted that the record of the overall amount of funds being withdrawn from Bitcoin exchange-traded funds, combined with the current drop, demonstrates short-term problems in the ecosystem. Therefore, this situation does not imply that institutions are beginning to lose interest in Bitcoin or that its basics are weak. 

The analysts also explained that the main reasons for the billions of dollars flowing out of ETFs and the overall market decline are that long-term Bitcoin holders are selling their coins to earn a profit and that many highly leveraged traders are leaving the market.

Join a premium crypto trading community free for 30 days - normally $100/mo.