Robert Kiyosaki recently announced his intention to double his Bitcoin (BTC) holdings if its price drops below $90,000. He argues that rising US public debt and the Federal Reserve's monetary policy are significant external pressures on Bitcoin, while asserting that this leading cryptocurrency is 'real money.' Kiyosaki believes that a potential correction of Bitcoin could be triggered by the 'August Effect,' and he maintains the view that prices could soar to $200,000 in the long term.
Kiyosaki's strategy behind accumulating Bitcoin
Kiyosaki has previously viewed price declines as buying opportunities, a strategy he intends to repeat. His current plan is very simple: as soon as the price of Bitcoin surpasses $90,000, he will buy more. According to him, the price drop will not last because it is driven by macroeconomic factors rather than the fundamental factors of the asset.
His model, referred to as the 'August Effect,' is based on the assumption that liquidity decreases during the summer months leading to increased selling pressure. Kiyosaki recalls that in previous cycles, he has taken advantage of these price dips as buying opportunities, resulting in significant profits. Technical analysts point out that the demand wall below $90,000 reinforces the area that Kiyosaki identifies as a support threshold.
In previous statements, Kiyosaki has maintained a similar strategy, emphasizing that moments of fear are the most fertile times to create wealth.
Impact of US public debt and Federal Reserve policy on the market
From a macroeconomic perspective, US public debt is rapidly increasing, and the Federal Reserve's tightening monetary policy remains a focus for analysts. Kiyosaki believes that the growing burden of public debt will erode the purchasing power of the dollar, while Bitcoin, with its limited supply, will preserve value. At the time of reporting, data from CoinMarketCap shows that the largest cryptocurrency is trading at $114,617.
Market participants believe that Kiyosaki's statements could resonate on social media, potentially boosting retail investor demand. However, they emphasize that the key factors determining price direction will be the Fed's policy decisions, regulatory signals, and advancements in network technology. Although no significant regulatory moves are anticipated, technology updates are expected to mitigate potential price volatility.
Analysts note that despite the flow of news, prices remain high above $100,000, and any potential price declines could recover within a limited timeframe. However, they warn of volatility risks.