Kiyosaki Sells Bitcoin Gold as Prices Crash Hard

Robert Kiyosaki, the famous “Rich Dad Poor Dad” author, just sold chunks of his Bitcoin and gold. He calls it smart risk management and eyes buying back cheaper soon. Bitcoin plunged over 20 percent in the past week alone, wiping out nearly $800 billion from the crypto market as prices hit around $64,000.

Kiyosaki shared his move on social media this week. He stressed protecting gains amid wild swings. Bitcoin sat near $70,000 just days ago before the sharp drop.

The timing stings for many holders. Kiyosaki plans to jump back in at lower prices, turning fear into a buy signal. This fits his long-time advice on buying low.

His past calls hyped Bitcoin as a safe haven. Now he shifts to caution as markets reel.

Bitcoin Crash Wipes Billions from Crypto World

Bitcoin led the fall, dropping from $75,000 highs in early November to under $65,000 now. The crypto market shed about $750 billion in value over seven days, per CoinMarketCap data tracked this week.

Ethereum and other coins followed suit. Trading volumes spiked as panic sellers rushed out.

One key trigger: Strong US jobs data fueled bets on higher interest rates. That cooled hopes for quick rate cuts.

Fear gripped traders. The so-called Bitcoin Fear and Greed Index hit “extreme fear” levels mid-week, a reading from Alternative.me based on volatility and sentiment scans.

Kiyosaki Blasts US Debt and Fed Policies

Kiyosaki did not hold back on bigger issues. He slammed the US national debt, now topping $36 trillion according to Treasury figures from late October.

Lawmakers came under fire too. He accused the Federal Reserve, banks, and politicians of wrecking the dollar’s value.

“Banks will collapse, real estate will crash, stocks will crash, and the dollar will go to zero,” he warned in recent posts. Gold and silver face sales for the same risks.

This echoes his books’ warnings on fiat money woes. Yet Bitcoin once topped his buy list as an escape.

His words stir debate. Some see wisdom; others call it fear-mongering amid the dip.

Market Stats Show the Pain in Numbers

Here’s a quick look at Bitcoin’s rough week:

Data from CoinGecko snapshots. The slide erased 2024 gains for some late buyers.

Altcoins hurt more. Solana fell 25 percent; Dogecoin over 30 percent.

Institutions watched closely. BlackRock’s Bitcoin ETF saw $200 million in outflows Tuesday, per Farside Investors reports.

What Lies Ahead for Bitcoin Buyers

Kiyosaki’s exit spotlights split views. Bulls eye election outcomes and ETF inflows for a rebound. Bears point to debt fears and rate hikes.

His re-entry plan could spark if prices dip further to $50,000 support levels. Analysts from Glassnode note whale wallets adding amid the drop.

For everyday investors, this means check your risk. Diversify holdings. Watch Fed meetings set for December.

One sentence sums the mood: Patience pays in volatile times.

Kiyosaki’s bold call shakes up the crypto scene, reminding all that even gurus play defense. Bitcoin’s storm tests faith in digital gold, but history shows crashes breed comebacks. Everyday folks feel the pinch on savings and dreams tied to these assets.