The Worst Reason to Buy Bitcoin Is to Listen to Robert Kiyosaki’s Advice

Decide to buy Bitcoin on your own.

Sylvain Saurel
Nov 19 · 7 min read
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Illustration by Sylvain Saurel

The year 2020 will remain a year apart for Bitcoin. I often repeat this, but it is because it is the purest truth. Before the coronavirus pandemic hit the world, the opponents of Bitcoin were legion.

Politicians, bankers, economists, journalists, all of them never missed an opportunity to criticize Bitcoin.

Until the beginning of this year, Bitcoin was still an easy target

Bitcoin was an easy target. The most disappointing thing I have to say was that the attacks against Bitcoin always used outdated arguments such as:

  • Bitcoin is a bubble.
  • Bitcoin has no intrinsic value.
  • Bitcoin consumes too much energy.
  • Bitcoin is too slow.
  • Bitcoin is only used for illegal activities.
  • The Bitcoin price is too volatile.
  • Bitcoin is too complex.

I’ll stop there, but you get the idea. All these arguments are clichés that have been proven many times to be false. Yet, opponents of Bitcoin keep using them.

The latest example? The Bank of France, which published a report in August 2020 saying that Bitcoin was used only for criminal activities. One still wonders how public institutions that are supposed to serve the people can propagate such lies without any scruples.

Unfortunately, this happens constantly.

The coronavirus pandemic has triggered an economic crisis that has reshuffled the cards

In response to the economic crisis triggered by the coronavirus pandemic, the central banks and governments of the major economic powers have taken measures on an exceptional scale. These measures have triggered great monetary inflation.

In the midst of this economic crisis, Bitcoin stood out, just as the Bitcoiners had been announcing for years.

While the Bitcoin price started the year just above $7K, the price is now around $18K. An increase of +150% that is only the beginning, as Bitcoin looks set to see its price increase even more during the year 2021.

The Bull Run for Bitcoin promises to be simply phenomenal. Seeing the price of Bitcoin reach $100k by the end of 2021 is more topical than ever.

Well aware of this, institutional investors are flocking to the Bitcoin world. The success of the Bitcoin fund of Grayscale investments is proof of this. Grayscale investments now holds more than 509,000 BTC for its customers.

Large companies, such as MicroStrategy and Square, are making Bitcoin their reserve asset. The Bitcoin rush is starting for the big American companies, and nothing can stop it now.

Don’t be surprised one of these days if you learn that Apple is using some of its $192 billion cash to buy Bitcoin. That moment will come sooner or later in the future.

U.S. banks now have the green light to buy and hold Bitcoin for their customers. Similarly, PayPal has announced its arrival in the Bitcoin world. The 346 million PayPal users will be able to buy and sell Bitcoin directly from its platform.

Bitcoin is becoming trendy in 2020.

Everyone starts talking about Bitcoin positively, even Robert Kiyosaki

Everybody is coming to understand that the Bitcoin revolution will eventually take everything in its path. We’re only at the beginning, but the acceleration phase is imminent.

With this in mind, more and more people are getting closer and closer to taking advantage of Bitcoin. In this story, I would like you to focus on Robert Kiyosaki. Famous for his bestseller “Rich Dad, Poor Dad” which made him a reference in personal financial management, Robert Kiyosaki had never really been interested in Bitcoin until mid-2020.

He had talked about it a little bit at the end of 2019, but nothing like what he’s doing now in 2020.

The beginning of the great monetary inflation, as well as the approach of Bitcoin’s third Halving, had boosted the media attention around Bitcoin at the beginning of April 2020.

This is the moment that Robert Kiyosaki chose to come and give his advice on Bitcoin. Here is a tweet he published on April 4, 2020:

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Robert Kiyosaki Tweet on April 4, 2020

So far nothing abnormal. Robert Kiyosaki may have fully realized that he had overlooked the future importance of Bitcoin. It was even a brave thing for him to acknowledge this.

Robert Kiyosaki talks about Bitcoin only through the prism of financial investment

Throughout the summer of 2020, Robert Kiyosaki continued to distill his advice on Bitcoin. His watchword was clear: you must buy Bitcoin.

In early July 2020, Robert Kiyosaki published the following tweet:

“Bitcoin is in, real estate and gold are out.”

At the end of August 2020, Robert Kiyosaki continued to distill his advice via a new tweet. Following Warren Buffett’s decision to leave his positions on American banks, Robert Kiyosaki announced a major banking crisis to come.

To deal with this major banking crisis, Robert Kiyosaki again advised his followers to buy Bitcoin.

You can check, but not once did Robert Kiyosaki attempt to guide his followers to understand the why of Bitcoin. Robert Kiyosaki sees Bitcoin only through the prism of super-profitable financial investment.

Robert Kiyosaki is simply looking to take advantage of all the attention surrounding Bitcoin, which will only get stronger in the coming months.

Robert Kiyosaki’s attitude does not help Bitcoin

Robert Kiyosaki’s attitude is to be contrasted with that adopted by Michael J. Saylor for example. Ever since he officially announced that MicroStrategy had Bitcoin as its primary treasury reserve asset, Michael J. Saylor has been sharing opinions that help us understand why Bitcoin is so important.

Michael J. Saylor is not content to simply say “buy Bitcoin” when the Bitcoin price is rising sharply. He explains why the future of Bitcoin is so bright.

In just a few weeks, Michael J. Saylor, through his transparency and intelligent positions, has become a significant voice in the Bitcoin world. He is not trying to take advantage of Bitcoin’s popularity. He wants above all to help Bitcoin.

Michael J. Saylor’s approach is totally different, and far more profitable for Bitcoin.

At the beginning of September 2020, a first twist occurred with the announcement of significant progress on the development of a vaccine against COVID-19. Taking advantage of the buzz created by this news, Robert Kiyosaki published the following tweet:

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Robert Kiyosaki Tweet on September 15, 2010

Robert Kiyosaki predicted that a Bitcoin crash would occur once a vaccine was proven effective against COVID-19.

Once again, Robert Kiyosaki is content to talk about Bitcoin through the prism of financial investment. Not once will you see Robert Kiyosaki talk about Bitcoin and the revolution it embodies?

Those who buy Bitcoin because of Robert Kiyosaki risk selling at a loss at the slightest correction

In recent days, a few days after Pfizer announced that its vaccine candidate was 90% effective, Robert Kiyosaki once again advised his followers to buy Bitcoin:

“As the dollar (USD) crashes, what counts is not the price, but how many coins of gold, silver, or Bitcoin you own.”

An astonishing message when you consider that Robert Kiyosaki said that after the discovery of a vaccine against COVID-19, the Bitcoin price was going to crash. Robert Kiyosaki, therefore, advises you to buy Bitcoin just before a potential crash if you follow his statements of the last few months.

Is it reasonable to advise people who potentially did not understand the why of Bitcoin to buy Bitcoin just before a potential crash?

The biggest danger with Bitcoin is to buy it without full confidence in its revolution. If you buy Bitcoin when a “Sell High” moment is looming, as is the case now, you need to be absolutely convinced of Bitcoin’s potential for the future.

If you don’t, you risk selling all your Bitcoins at a loss as soon as the Bitcoin price drops. In the coming weeks, this is exactly what could happen to Bitcoin.

So before you buy Bitcoin, you need to understand what you are doing. This is an essential pre-requisite to avoid the same situation that we will face at the beginning of 2018 or March 2020. Rather than advising you to buy Bitcoin because someone tells you to, I advise you to learn more.

Conclusion

You are the only one who can take care of your money future. Understand how money works, what the limitations of the current system are, and how Bitcoin responds effectively to them.

This will help you understand why Bitcoin is a monetary revolution. Then you will be ready to buy Bitcoin. If you reach this level of confidence, you will choose to become a Bitcoin HODLer. You will adopt the best possible strategy with Bitcoin.

You will be able to buy Bitcoin at $17K, $18K, or even 20K without any risk. Indeed, you will be mentally prepared for the effects of Bitcoin’s price volatility.

When the Bitcoin price is corrected, it always happens, you will stay calm and HODL Bitcoin no matter what. Rather than listening to Robert Kiyosaki’s opportunistic advice, you’d better do your own research on Bitcoin to form your own opinion.

In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers…

Sylvain Saurel

Written by

Entrepreneur / Developer / Blogger / Author. In Bitcoin We Trust: https://www.inbitcoinwetrust.net

In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

Sylvain Saurel

Written by

Entrepreneur / Developer / Blogger / Author. In Bitcoin We Trust: https://www.inbitcoinwetrust.net

In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

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