Robert Kiyosaki, the best-selling author of the investment and finance book "Rich Dad Poor Dad", has long been advocating for silver, gold, and Bitcoin on the X platform, believing that these three assets are the safest, and that cash such as the US dollar and the Euro are "garbage".
Recently, with the cryptocurrency market experiencing a major decline, Bitcoin has continued to plummet from its high of $99,000 to a low of $82,256. In this context, Rich Dad tweeted on the afternoon of the 27th that he will continue to increase his position in Bitcoin during the price crash:
Bitcoin is on sale (crashing), and I'm buying!
Rich Dad: I will use "counterfeit money" to buy discounted Bitcoin
We know that Rich Dad has long been critical of global monetary policies, particularly the US government's high debt problem. In his tweet, Rich Dad directly stated that the reason he continues to buy Bitcoin is because the US government has gone bankrupt, with the actual national debt exceeding $230 trillion, and when other countries stop buying US Treasuries, it will further lead to soaring inflation and the collapse of the US dollar:
The US is bankrupt. Our debt, including social welfare programs (such as Medicare and Social Security) and $36 trillion in national debt, actually exceeds $230 trillion. US government debt has become a joke.
When countries like Japan and China stop buying US Treasuries, hyperinflation will soar, and our economy and the US dollar will collapse.
That's why I'll smile and buy more when Bitcoin crashes!
In addition, Rich Dad also stated that Bitcoin is "honest money", and he will use "counterfeit money (US dollars)" to buy it when it's on sale:
Bitcoin is honest money. Counterfeit money is theft. Whenever gold, silver, and Bitcoin are "on sale", I'll use counterfeit money to exchange for them!
The market fear index shows "10 extreme fear"
On the other hand, the market continued to decline this morning, and the downward trend of Bitcoin breaking through the bottom has also made the market sentiment uneasy. According to Coinglass data, the current cryptocurrency market's fear and greed index has dropped to 10, indicating "extreme fear". This is a new low since July 2022. According to the survey, the last time the market fear & greed index was below 10 was during the "618 implosion event" in 2022, when the index was 6.
