The cryptocurrency market is witnessing turbulent times as Bitcoin records its fourth consecutive weekly decline, marking the longest losing streak since June 2024. Despite this downward trend, the world's largest digital currency has shown signs of recovery, bouncing back from recent lows.
Bitcoin's Rollercoaster Ride: From Slump to Rebound
According to data from CoinGecko, Bitcoin experienced a significant dip, falling to $82,100 on November 21 before staging a modest comeback. The cryptocurrency has since climbed to $87,400, representing an approximate 6% increase from its recent trough and a 1.8% gain over the past 24 hours.
However, the broader picture remains concerning for investors. Bitcoin suffered a substantial 7.6% drop on Friday, plunging to $80,553. Monthly losses have reached nearly 25%, making November the worst month for Bitcoin since 2022.
Kiyosaki's Strategic Move: Selling Bitcoin to Build Income
Amid this market volatility, renowned financial author Robert Kiyosaki, famous for his bestselling book Rich Dad Poor Dad, made headlines with a surprising disclosure. Kiyosaki revealed he sold $2.25 million worth of Bitcoin for approximately $90,000 in cash.
In a detailed post on X (formerly Twitter), Kiyosaki explained his reasoning behind this move. "I purchased Bitcoin for $6,000 a coin years ago," he wrote, emphasizing that this was a strategic reallocation rather than a retreat from cryptocurrency investments.
The author clarified that this decision aligns with his long-standing financial philosophy: converting speculative gains into assets that generate recurring, tax-efficient income. "With the cash from Bitcoin, I am purchasing two surgery centres and investing in a billboard business," Kiyosaki disclosed.
According to his calculations, these new investments are expected to generate "positive cash flowing approximately $27,500 a month by next February… tax-free." This additional income will complement his substantial real estate portfolio, which already brings in "hundreds of thousands per month."
Maintaining Bitcoin Optimism Despite Sale
Kiyosaki was quick to reassure his followers that his Bitcoin sale doesn't reflect diminished confidence in the cryptocurrency. He acknowledged receiving advice against publicly disclosing the transaction due to safety concerns but chose transparency regardless.
"In a world of 'fake money' and 'fake teachers,' I thought it best you know I practice what I teach," Kiyosaki stated.
The entrepreneur maintains his bullish long-term outlook on Bitcoin, reiterating his prediction that the cryptocurrency will reach $250,000 by 2026. He plans to repurchase Bitcoin using cash flow generated from his new business ventures.
Kiyosaki continues to position Bitcoin as a superior store of value in an era of accelerating monetary debasement. His confidence stems from Bitcoin's fundamental characteristics: scarcity, network effects, and protection against currency devaluation.
Market Forces Behind Bitcoin's Decline
Analysts attribute Bitcoin's recent downturn to several factors, including heavy spot selling, ETF outflows, and long-inactive wallets suddenly moving coins. Additional pressure came from options-related hedging after Bitcoin slid below the heavily traded $85,000 strike level.
Market observers suggest the $80,000 zone may offer temporary support as hedging flows stabilize. However, the overall sentiment remains cautious as the cryptocurrency navigates through this challenging phase.
Kiyosaki's disclosure and ongoing optimism provide a fascinating counterpoint to the current market sentiment, demonstrating how seasoned investors approach volatility as part of their broader wealth-building strategy.
