Robert Kiyosaki, the “Rich Dad Poor Dad” guy, recently bought more Bitcoin – at a whopping $110,000! He’s betting big that Bitcoin will hit $1 million, making his current purchase look like a steal.
The “Banana Zone” Buy
Kiyosaki used his own investing rule – “PIGs get fat, HOGs get slaughtered” – to justify the high price. He’s playing a waiting game, expecting less disciplined investors (the “HOGs”) to drive the price even higher before he sells. He’s basically saying that the fear of missing out (FOMO) will push prices up, allowing him to profit from the panic selling that will inevitably follow.
He even calls his current Bitcoin position being in what analyst Raoul Pal calls the “Banana Zone,” a risky area where latecomers often buy high and lose big.
Lessons Learned (and Lost)
Kiyosaki admits he initially bought Bitcoin at $6,000, thinking that was expensive. He learned a valuable lesson: don’t wait to learn about investing before jumping in. He’s upfront about his past mistakes, using them to inform his current strategy. He figures that if Bitcoin hits $1 million, he’ll regret not buying more at $110,000.
Risk and Reward
He acknowledges the risk – he could be wrong – but says he’d rather be a “sucker” who bought high and made a profit than a “loser” who missed out. He’s confident he can handle a $100,000 loss thanks to his financial security. He points out that 30-50% drops are common in crypto, so he’s prepared for volatility.
Advice for Small Investors
Kiyosaki encourages everyone to buy Bitcoin, even if it’s just a tiny fraction. He believes that newcomers will regret not buying in when they see the potential future price. However, he stresses the importance of independent thinking and warns against blindly following his advice.
The Bottom Line
Kiyosaki’s open about his Bitcoin purchases, showing his willingness to take risks for potentially huge rewards. He views each trade as a learning experience, not just a quick money grab. His $110,000 buy is a clear example of his long-term strategy and his belief in Bitcoin’s future.
