“Rich Dad Poor Dad” author Robert Kiyosaki raised some eyebrows when he posted on X in November stating he’d keep buying Bitcoin until it reached $100,000.
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“Then I will stop. Not a time to get greedy,” Kiyosaki continued on his X post. His remarks came amid growing optimism for the original cryptocurrency.
That optimism and Bitcoin reaching said $100,000 threshold numerous times since Kiyosaki’s November post has investors wondering if now is the time to buy, or if they should hold off. GOBankingRates talked to experts for advice on Bitcoin crossing the $100,000 mark.
Andrew Lokenauth, money expert and owner of Fluent in Finance, said Kiyosaki has been a vocal Bitcoin supporter for years now, with a good consistency about his belief in its future. Lokenauth said Kiyosaki thinks traditional money is losing value fast, and Bitcoin may be like digital gold, which Lokenauth said may be a thought worth exploring.
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According to Lokenauth, even $100,000 may be a point that’s still too early to sell, as some factors suggest Bitcoin could go higher. “Adoption rates are still in early stages, institutional money hasn’t fully entered yet and the total market cap compared to gold is still tiny,” Lokenauth said.
Adam Garcia, a certified financial planner and founder of The Stock Dork, said, “Kiyosaki’s approach of accumulating Bitcoin until it reaches $100,000 is rather drastic and signifies his understanding of the digital asset’s prospective supremacy.”
According to Garcia, Kiyosaki’s approach brings the dilemma of benefits outweighing losses versus risks being prevalent. Garcia said Bitcoin’s price volatility will always be a feature of this digital currency.
If you’re thinking about following Kiyosaki’s lead and buying Bitcoin only until it reaches $100,000, Lokenauth said there are some things to keep in mind.
“Don’t invest more than you can afford to lose,” Lokenauth said. “Maybe set a higher sell target such as $150,000 or $200,000, and think longer term, such as years and not months.”
Per Garcia, “The most asymmetric assets, such as Bitcoin, show promise in emergencies or events that could destabilize traditional assets.”
Garcia said for investors who are more tolerant of risk or can read significant geopolitical shifts, investing in Bitcoin as a hedge may be pretty effective.
