‘Crash is the best time to get rich’ – this is why Robert Kiyosaki thinks

'Crash is the best time to get rich' - here's why Robert Kiyosaki thinks Bitcoin immersion is great news and how you can take advantage of it

‘Crash is the best time to get rich’ – here’s why Robert Kiyosaki thinks Bitcoin immersion is great news and how you can take advantage of it

Bitcoin is on a wild ride.

The world’s largest cryptocurrency rose to $ 68,990 last November. Now, that’s about $ 29,000 – a wonderful 58% pullback from the peak

If the downward trend continues, Rich Dad Poor Dad author Robert Kiyosaki says he’s ready to start buying.

“Bitcoin crashing. Great news,” he tweeted last week. “I’m waiting for Bitcoin to crash 20k. Then wait for the test below which could be $ 17k. Once I found out I’m back up the truck. The best time to get rich is to crash.”

Kiyosaki added that Bitcoin is the “future of money” and that its bottom could be even lower at $ 11,000.

In today’s market environment, being the opposite investor is not easy. But if you share Kiyosaki’s point of view, here are three easy ways to capitalize on the potential rebound of Bitcoin.

Sign up for our Moneywise newsletter to get an uninterrupted stream of actionable ideas from the top companies on Wall Street.

Buy Bitcoin directly

The first option is the simplest: If you want to buy Bitcoin, just buy Bitcoin.

Nowadays, many platforms allow individual investors to buy and sell crypto. Just be aware that some exchanges charge a commission fee of up to 4% for each transaction. So look for apps that charge less or don’t even pay a commission.

Although Bitcoin today indicates a five-digit price tag, there is no need to buy a complete coin. Most exchanges allow you to start with as much money as you want.

Bitcoin ETF

Exchange-traded funds have grown in popularity in recent years. They trade on stock exchanges, so buying and selling them is very convenient. And now, investors can also use them to get a share of the Bitcoin action.

For example, ProShares Bitcoin Strategy ETF (BITO) began trading on the NYSE Arca in October 2021, marking the first US Bitcoin-linked ETF on the market. The fund holds Bitcoin futures contracts traded on the Chicago Mercantile Exchange and has a spending ratio of 0.95%.

There is also the Valkyrie Bitcoin Strategy ETF (BTF), which debuted a few days after BITO. This Nasdaq-listed ETF invests in Bitcoin futures contracts and charges a spending ratio of 0.95%.

Bitcoin stock

When companies associate some of their growth with the crypto market, their shares can often keep pace with coins.

First, we have Bitcoin Minor. Computing power does not come cheap and power consumption can be substantial. But if the price of Bitcoin goes up, miners such as Riot Blockchain (RIOT) and Hut 8 Mining (HUT) will get increasing attention from investors.

Then there are intermediaries like Coinbase Global (COIN) and Paypal (PYPL). When more people buy, sell and use crypto, these platforms benefit.

After all, there are companies that simply put lots of crypto on their balance sheets.

Case in point: Enterprise software technologist MicroStrategy (MSTR). Its market cap is 2.3 billion. Yet its bitcoin numbers reached 129,218 at the end of March, with reserves worth about $ 3.8 billion.

Sign up for our Moneywise newsletter to get an uninterrupted stream of actionable ideas from the top companies on Wall Street.

More from MoneyWise

This article provides information only and should not be construed as advice. It is provided without any warranty.

Leave a Reply

Your email address will not be published.