‘Rich Dad, Poor Dad’ Author Will Be ‘EXPRESSED’ As Bitcoin Falls To This Price Level Amid FTX Fiasco – Bitcoin (BTC/USD)
As the fallout from the collapse of Sam Bankman-Fried’s blockchain empire FTX continues, investors are wary of the battered cryptocurrency market.
The crypto industry has already seen the shutdown of major players, along with Bitcoin BTC/USD bubble bursting.
“Rich Dad, Poor Dad” author Robert Kiyosaki has dropped cautionary words about Bitcoin’s performance in the current market scenario.
In a recent tweet, Kiyosaki says he is not looking at flipping Bitcoin by market cap as he is a long-term investor of BTC rather than a trader.
BITCOIN? WORRIED? No. I am a Bitcoin investor as I am an investor in physical gold, silver and real estate. I am NOT A TRADER or flipper. When BITCOIN Hits New Bottom, $10 to $12k? I’ll be UP, not worried. I bet against the Fed, Treasury, Biden and bet on G,S and Bitcoin.
— therealkiyosaki (@theRealKiyosaki) 11 November 2022
He believes a new bottom is coming for Bitcoin and could be as low as $10,000. He says if it does happen, he’ll be excited about it instead of nervous.
Last month, Kiyosaki warned that the US is headed for an imminent economic collapse. He said in a tweet that in the midst of a financial meltdown, investors could keep their capital intact by loading up on gold, silver and Bitcoin.
Gold, Silver, Bitcoin can protect your KINGDOM…but not your INCOME. As the economy crashes, stock markets crash, pensions crash and unemployment rises, a SIDEKRYT can bring you income. Who knows,? Your side hustle can grow into the next Amazon or Bitcoin. Have a good time. Be aware of.
— therealkiyosaki (@theRealKiyosaki) 13 October 2022
Also Read: The Wolf Of Wall Street Says He Was Wrong About Bitcoin: ‘I Really Hated Crypto’
Earlier, Kiyosaki said he is bullish on Bitcoin because government-backed pension funds are starting to invest in BTC.
“Why Buy Gold, Silver, Bitcoin? Bank of England pivot means buying more GSBC. When pensions almost collapsed, it revealed that central banks could not fix … INFLATION. Pensjon has always invested in G& S. Pensjonsfond is now investing in Bitcoin. They know fake dollars, stocks and bonds are toast,” he said in a tweet.
During an interview in May, Kiyosaki said rising inflation, a lack of social security and health care funding are the key factors affecting the economy.
He warned that the downturn will hit a huge number of baby boomers.
At the time of writing, Bitcoin was trading at $16,622. A 21% drop in the last seven days as the FTX fiasco unfolded.
Photo: Created with a photo from Gage Skidmore via Wikimedia
