Bitcoin crash: How the big names react

Last night, the crypto market fell sharply. Bitcoin dropped 15,3% in the past 24 hours, while Ethereum experienced a 21,93% drop. How are big names in the market like Robert Kiyosaki and Michael Saylor reacting?

Robert Kiyosaki sees the collapse of financial markets as an opportunity to re-enter. So explains the "Rich Dad, Poor Dad" author in a post on X.

"Invest when the fear mongers give up," he says at the end. Probably star investor Warren Buffett would agree. "Buy when there's blood in the streets," says the Bitcoin critic's stock market wisdom. In other words, buying assets when the markets are experiencing significant declines or turbulence. In the crypto scene, they know this as: Buy the Dip.

Currently, Bitcoin bull Michael Saylor also recommends buying Bitcoin. His company, MicroStrategy, has bought more than 229,000 BTC for billions of dollars in recent years.

Goldbug Peter Schiff takes the opportunity to rail against Bitcoin. The current wave of selling is a "black Monday for crypto." This is a reference to "Black Friday": on Oct. 25, 1929, the New York Stock Exchange collapsed, leading to the Great Depression.