On Monday (June 13), with the crypto market in turmoil as the crypto community tries to apprehend the ramifications of the liquidity issues of crypto lending and borrowing platform Celsius Network, Robert Kiyosaki offered some interesting advice to investors.
Over the past several weeks, all risk-on assets, such as stocks and cryptoassets, have been suffering due to macro factors such as inflation and the raising of interests by the Federal Reserve (and other major central banks) in order to bring it down.
What made the crypto market look even more risky was last month’s collapse of the Terra ecosystem.
Then, over the weekend, the prices of Bitcoin, Ethereum, and other cryptoassets dropped by double digit percentages as rumors began to circulate about the solvency of Celsius.
And earlier today, Celsius announced that it was pausing all withdrawals, which made crypto investors even more nervous.
Robert Kiyosaki, who is the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, and who was calling Bitcoin “open source people’s money” in April 2021 and saying that he loves Bitcoin back in October 2021, had some unusual advice for investors earlier today:
Last month, Kiyosaki stated when he would be ready to buy more Bitcoin: