[Bitcoin Now] Drops to 60 Million KRW Range... Cryptocurrency Advocate Says "Buy Low After Crash"

Possibility of Asset Crash Due to Inflation Caused by the US
Francis Suarez, Miami Mayor, "Will Receive Retirement Pension in Bitcoin"

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin is sluggish in the 60 million KRW range. Meanwhile, Robert Kiyosaki, author of "Rich Dad Poor Dad" and a well-known Bitcoin advocate, recommended buying assets at low prices after their crash, including Bitcoin.

According to the domestic cryptocurrency exchange Upbit, at 2:21 PM on the 13th, Bitcoin recorded 60.91 million KRW, down 1.84% from the previous day. It had risen to 62.88 million KRW the day before but has since been declining. Since the sharp drop on the 3rd, Bitcoin has not surpassed the 70 million KRW mark.

Kiyosaki gave a somewhat negative outlook on cryptocurrencies. On the 10th (local time), he tweeted, "The U.S. Federal Reserve (Fed) and President Joe Biden are fueling fake inflation," adding, "A recession is approaching, and assets such as Bitcoin, gold, silver, and real estate will also crash."

However, he also added that after the crash, one should buy Bitcoin, gold, silver, and real estate again. The reason is that the post-crash period caused by fake inflation is an opportunity to become wealthy. Although he did not specify a particular time, he stated that he plans to engage in low-price buying himself.

So far, Kiyosaki has expressed a positive stance on cryptocurrencies. In August, he tweeted, "Gold is stagnant and the dollar's value is falling," and said, "Bitcoin and silver are the best investment destinations." Also, in May, he claimed that Bitcoin would eventually rise and that the sharp drop was an opportunity for low-price buying.

Meanwhile, another well-known cryptocurrency advocate, Miami Mayor Francis Suarez, announced that he would receive his retirement pension in Bitcoin. According to the cryptocurrency specialized media Cointelegraph on the 11th, Mayor Suarez said he would receive his retirement pension from the U.S. retirement system 401(k) in Bitcoin, following his salary. He stated, "Bitcoin is a good asset for long-term investment, so receiving retirement funds in Bitcoin is also a good choice." Last month, Mayor Suarez also said he planned to pay not only his salary but also the salaries of 4,000 employees in Bitcoin.

This content was produced with the assistance of AI translation services.