Robert Kiyosaki is preparing for what he calls Bitcoin's 'August Curse'. He is monitoring Bitcoin prices fluctuating around $90,000. If Bitcoin drops below that level, he plans to double his holdings. He currently owns about 73 Bitcoins and wants to reach 100 by the end of this year.
Kiyosaki Eyes August Dip
According to Kiyosaki, Bitcoin prices have a history of sharp declines in August. He wrote on X that he hopes Bitcoin prices will drop below $90,000 to buy more.
He is not hesitant to outline his plan. He will buy heavily if the opportunity arises. That determination comes from someone who believes, viewing every sell-off as an opportunity to accumulate more shares.
At a recent financial event, he shared the stage with Jim Rickards and Brent Johnson. He called them leading voices on what could happen to the global market.
He also praises discussions with Larry Lepard and other speakers at events called 'The Collective' and 'The Infinite Financial Education Event'. He stated that these discussions helped him better understand why recession is an opportunity and not a disaster.
Debt and doubts at the Fed
Kiyosaki blames Washington rather than the ups and downs of cryptocurrency. He attributes it to the over trillion-dollar debt and 'incompetent doctors' running what he calls the 'Swamp' in the Federal Reserve and the Treasury.
He views those running U.S. monetary policy as the real risk. In his view, addressing that mess is more important than worrying about Bitcoin's fluctuations.
Based on reports, he still considers Bitcoin along with gold and silver as a shield against a potential financial crisis. He has warned over 2 million of his followers on X that holding cash is risky.
His long-term price target for Bitcoin is $250,000 before the end of 2025. Thinking big helps him stay calm when the market becomes volatile.
Calling for calm amid volatility
Although Bitcoin reached a peak of about $120,000 last month, it fluctuated between $112,000 and $113 last week. Kiyosaki believes that these fluctuations will help investors get richer if they buy during times of panic. He urges people to ignore negative news and focus on buying during downturns. That is his lesson for anyone listening.
His strategy is very simple. He sees fear as a buying signal and tracks historical patterns. If you also believe in Bitcoin's long-term growth prospects, this seems like a smart move. But betting on monthly patterns carries risk. If Bitcoin stays above $90,000 this August, his plan will not succeed. In that case, he will miss the opportunity to buy at a lower price.
Bitcoin's road is never smooth. For Kiyosaki, market declines are part of the journey. Whether others follow his path will depend on the level of risk they can handle and whether they believe in the 'August Curse'.