The post Kiyosaki Explains Why He Bought More Bitcoin and Gold in Latest X Post appeared first on Coinpedia Fintech News
In a recent X post, Robert Kiyosaki, the author of Rich Dad Poor Dad and a well-known venture investor and entrepreneur, recently shared his views on Bitcoin with his followers. He tweeted a brief Q&A, addressing a common question he receives about Bitcoin and sharing his thoughts on it.
The financial expert explained why he recently bought more Bitcoin and gold, calling them safer than holding fiat currencies like the US dollar.
Some commentators disagreed with Kiyosaki’s views. One X user recommended Litecoin as a worthy investment, calling it “digital silver,” while Kiyosaki loves physical silver, particularly coins as per his earlier tweets. Another user pointed out that Bitcoin has one big problem: its value is tied to US dollars, which Kiyosaki dislikes.
Bitcoin has dropped 4.25% in the past 24 hours, now trading at $96,145. It had briefly recovered to $100,000 following the release of a weaker-than-expected non-farm payrolls report. Despite the decline, Robert Kiyosaki views such price drops as opportunities. In a tweet on February 3, he called the market crash a chance to buy more Bitcoin, silver, and gold, as these assets are now on sale. On that day, Bitcoin fell from $98,000 to $92,200.
States Race to Create Crypto Reserves
Utah has made history as the first state to pass a bill allowing public funds to be invested in crypto, and now, Kentucky and Maryland are jumping on the bandwagon! While the push for a “bitcoin strategic reserve” is mainly associated with Republican efforts at the federal level, each state is creating its own plan, with different approaches on how to invest public funds in digital assets.
This week, Maryland also introduced a bill o create a Bitcoin strategic reserve, similar to a proposal by Senator Cynthia Lummis, funded by revenue from gambling violation enforcement. Kentucky also introduced two bills allowing state retirement funds to be invested in digital asset exchange-traded funds.