Why bitcoin's slide is “great news” for long-term investors, according to this author.
Bitcoin prices are headed for their worst month since 2011 — and one prominent investor says that’s “great news.”
In April, Kiyosaki predicted in an interview that bitcoin’s price would top $1 million in the next five years. Still, he said he prefers gold and silver as an investment, calling it “God’s money.” Kiyosaki is an outspoken critic of the Fed, the Treasury Department and the Biden administration, calling them “losers” and socialists, and predicting the demise of the dollar.
While bitcoin BTCUSD, -2.25% fell about 5% on Saturday, it rebounded Sunday and was up about 4% over the previous 24 hours, as of Sunday evening, trading in a range between $33,000 and $37,000. Ethereum ETHUSD, -3.29% prices similarly slid about 6% Saturday and recovered Sunday, up more than 5% over the previous 24 hours. Dogecoin DOGEUSD, -1.93% also bounced around Saturday and Sunday, and prices were last about even with Friday’s end of session.
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