‘Crashes are the best times to get rich’ — here’s why Robert Kiyosaki thinks bitcoin’s plunge is great news and how you can take advantage of it

‘Crashes are the best times to get rich’ — here’s why Robert Kiyosaki thinks bitcoin’s plunge is great news and how you can take advantage of it

Bitcoin is on a wild ride.

The world’s largest cryptocurrency soared to $68,990 last November. Now, it’s at around $29,000 — a staggering 58% pullback from the peak.

If the downtrend continues, Rich Dad Poor Dad author Robert Kiyosaki says he’s ready to start buying.

“BITCOIN CRASHING. Great news,” he tweeted last week. “I am waiting for Bitcoin to crash to 20k. Will then wait for test of bottom which might be $17k. Once I know bottom is in I back up the truck. Crashes are the best times to get rich.”

Kiyosaki added that bitcoin “is the future of money” and that its bottom may be even lower at $11,000.

In today’s market environment, it’s not easy to be a contrarian investor. But if you share Kiyosaki’s view, here are three simple ways to capitalize on bitcoin’s potential rebound.

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Buy bitcoin directly

The first option is the most straightforward: If you want to buy bitcoin, just buy bitcoin.

These days, many platforms allow individual investors to buy and sell crypto. Just be aware that some exchanges charge up to 4% in commission fees for each transaction. So look for apps that charge low or even no commissions.

While bitcoin commands a five-figure price tag today, there’s no need to buy a whole coin. Most exchanges allow you to start with as much money as you are willing to spend.

Bitcoin ETFs

Exchange-traded funds have risen in popularity in recent years. They trade on stock exchanges, so it’s very convenient to buy and sell them. And now, investors can use them to get a piece of the bitcoin action, too.

For instance, ProShares Bitcoin Strategy ETF (BITO) started trading on NYSE Arca in October 2021, marking the first U.S. bitcoin-linked ETF on the market. The fund holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange and has an expense ratio of 0.95%.

There’s also the Valkyrie Bitcoin Strategy ETF (BTF), which made its debut a few days after BITO. This Nasdaq-listed ETF invests in bitcoin futures contracts, and charges an expense ratio of 0.95%.

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