Rich Dad author: “Now is the time for bargains… I’ll buy more gold, silver and Bitcoin”

Trump’s Fed pick revives tightening fears

Bitcoin plunges in the short term… falls below $80,000

Robert Kiyosaki: “Now is the time for bargains”

Financial markets entered a sharp correction after U.S. President Donald Trump nominated Kevin Warsh, a hawkish former Federal Reserve governor, as chair of the U.S. central bank (Fed).

As concerns over interest-rate uncertainty and a stronger dollar resurfaced, selling pressure concentrated across risk assets. Bitcoin and major altcoins could not avoid a short-term slump, but Robert Kiyosaki, author of the bestseller Rich Dad Poor Dad, interpreted the shock as a buying opportunity.

In a post on X on the 2nd, Kiyosaki said, “The gold, silver and Bitcoin markets have crashed. That means they’re on sale,” adding, “I’m sitting on cash, waiting for the moment to buy more assets at these sale prices. What will you do?”

Kiyosaki said, “When Walmart has a sale, poor people rush in and buy this and that,” but “when financial asset markets go on sale—when a crash occurs—poor people sell and run. By contrast, the rich rush in and buy, then buy more,” he stressed.

In fact, Bitcoin has halted its short-term surge and entered a steep correction. According to crypto exchange Bithumb on the 3rd, Bitcoin traded in the low KRW 110 million range the previous day. After moving around KRW 120 million until the end of last month, the price extended its decline this month and slid by about KRW 10 million in a short period. In dollar terms, it fell to the $76,000–$78,000 range, breaking below the $80,000 support level for the first time since April last year.

The sell-off spread even faster to major altcoins. On the same day, Ethereum fell more than 5%, while Solana and Ripple (XRP) posted larger losses than Bitcoin. The move stands in stark contrast to the uptrend that had raised hopes at the start of the year.

This correction was triggered as tightening concerns resurfaced, unlike the bullish mood that had persisted until just a few days earlier. Bitcoin had moved sideways in a KRW 128 million–130 million range in December before attracting buying interest in the new year and surging. In early last month, it even climbed to the KRW 137 million range, setting a short-term peak. However, sentiment shifted abruptly as Trump’s Fed pick was taken by the market as a signal of tighter policy.

Mike McGlone of Bloomberg Intelligence said, “The likelihood is increasing that Bitcoin’s uptrend will turn into a downtrend,” adding, “Considering the price stagnation and reduced volatility since November last year, downside risks outweigh upside risks for the market this year.”

While retail investors have moved to sell on fear, some analyses suggest large investors are increasing their holdings. According to blockchain analytics firm Glassnode, small investors holding fewer than 10 Bitcoins have been selling for more than a month, but wallet balances among investors holding 1,000 or more have instead turned to an uptrend. The interpretation is that deep-pocketed players are absorbing retail capitulation.

Reporter Jihee Yoo, Hankyung.com keephee@hankyung.com