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Robert Kiyosaki thinks bitcoin’s plunge is great news and how you can take advantage of it

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 skyrocketed to $68,990 last November. It now sits around $29,000, a staggering 58% drop from the peak. If the downtrend continues, Rich Dad Poor Dad author Robert Kiyosaki says he's ready to start buying.

"BITCOIN CRASHING. Incredible news," he tweeted the week before. "I'm trusting that Bitcoin will collide with 20k. Will then sit tight for trial of base which may be $17k. When I realize base is in I back up the truck. Crashes are the best times to get rich."

Kiyosaki added that bitcoin "is the eventual fate of cash" and that its base might be even lower at $11,000.

In the present market climate, being an antagonist investor is difficult. Yet, assuming you share Kiyosaki's view, the following are three simple methods for taking advantage of bitcoin's expected bounce back.

Purchase bitcoin straightly

The main choice is the most direct: If you need to purchase bitcoin, simply purchase bitcoin.

Nowadays, numerous stages permit individual financial backers to trade crypto. Simply know that a few trades energize to 4% in commission expenses for every exchange. So search for applications that charge low or even no commissions.

Although bitcoin today has a five-digit price, there is no need to buy an entire coin. Most exchanges allow you to start with as much money as you are willing to spend.

Bitcoin ETFs

Trade exchanged reserves have ascended in fame lately. They exchange on stock trades, so it's extremely helpful to trade them. Furthermore, presently, financial backers can utilize them to get a piece of the bitcoin activity, as well.

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

There's additionally the Valkyrie Bitcoin Strategy ETF (BTF), which made its presentation a couple of days after BITO. This Nasdaq-recorded ETF puts resources into bitcoin prospects agreements, and charges a cost proportion of 0.95%.

Bitcoin stocks

When companies tie some of their growth to the cryptocurrency market, their stocks can often move in tandem with the coins.

To begin with, we have bitcoin excavators. The processing power doesn't come modest and energy expenses can be significant. In any case, if the cost of bitcoin goes up, excavators like Riot Blockchain (RIOT) and Hut 8 Mining (HUT) will probably get developing consideration from financial backers.

Then there are intermediaries like Coinbase Global (COIN) and Paypal (PYPL). When more people buy, sell and use cryptocurrencies, these platforms will benefit. Finally, there are companies that simply hold a lot of cryptocurrencies on their balance sheets.

A valid example: venture programming technologist MicroStrategy (MSTR). It has a market cap of $2.3 billion. However its bitcoin count reached 129,218 toward the finish of March, a reserve worth around $3.8 billion.

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