Bitcoin is facing significant selling pressure, and a well-known Bitcoin investor has just added to it. Robert Kiyosaki, primarily known as a major Bitcoin proponent, has sold millions in Bitcoin, but why?
Robert Kiyosaki Sells Bitcoin Holdings #
Robert Kiyosaki, author of “Rich Dad, Poor Dad” and a well-known Bitcoin promoter, has sold nearly €2 million worth of Bitcoin. He shared on X that he sold Bitcoin at $90,000 per coin, having invested years ago when the coin was worth only $6,000.
Kiyosaki’s sale comes as a surprise to some. For years, he had shared that he would not sell Bitcoin and advised his followers to invest in Bitcoin. According to Kiyosaki, a major economic crisis is coming, which he has long warned about, and Bitcoin offers the best protection against it.
Kiyosaki’s announcement received many negative reactions from followers, who accuse him of being inconsistent in his message. However, Kiyosaki says this was always his plan and he had also described it in his book.
What Kiyosaki Plans Next #
The reason Kiyosaki is selling his Bitcoin is to generate more passive income with other investments. With the money, Kiyosaki is buying two surgical centers and investing in a billboard company.
He expects to earn $27,500 monthly by February, tax-free. Combined with his other real estate income, he says he will earn hundreds of thousands of dollars per month.
Ultimately, Kiyosaki says he will buy Bitcoin again. “I am still very bullish and optimistic about Bitcoin,” the businessman stated.
How Bitcoin Price is Reacting #
Bitcoin has been facing strong selling pressure for some time, and the price continues to struggle under it. In the past seven days, Bitcoin’s price has fallen by 12.3%.
In recent weeks, Bitcoin has lost multiple important support levels, and it has been over a week and a half since Bitcoin was last worth more than $100,000. At the time of writing, the coin is worth $84,060.
