Rich Dad Poor Dad author Robert Kiyosaki questions how much bitcoin could fall as the fallout of FTX continues.
Kiyosaki To tell He is a long-term investor in BTC, not a trader, and has no intention of overturning the top crypto asset by market capitalization.
If the cryptocurrency mogul faces another dramatic drop, Kiyosaki says he’ll be more excited than concerned as he’s betting on the Federal Reserve, the U.S. Treasury Department, and the current administration.
As for the price target, Kiyosaki believes a new bottom is on the way and could go as low as $10,000.
“Bitcoin? Worried? No. I’m a Bitcoin investor because I’m an investor in physical gold, silver and real estate. I’m not a trader or a flipper. When Bitcoin hits [a] New soles, $10,000 to $12,000? Excited, not worried. I bet on the Fed, [the] Treasury…and Betting [gold, stocks], and Bitcoin. ”
Last month, Kiyosaki issued dire economic warnings, saying a major financial collapse was imminent. He said the only way for traders to protect their wealth is to invest in gold, silver and BTC. He also recommended coming up with another source of income.
“Gold, silver and bitcoin may protect your wealth, but not your income. [the] If the economy crashes, the stock market crashes, pensions crash and unemployment rises, the side hustle could bring in income. Do you know? Your side business may develop into the next Amazon or Bitcoin. Be careful. Please be aware. ”
Bitcoin is trading at $16,844 at the time of writing, down 5.6% over the past 24 hours and down 21% from its seven-day high of $21,417.
Kiyosaki’s career was not without controversy. In 2013, a class action lawsuit was filed against him by people who were dissatisfied after attending his paid seminars.
In 2012, the once-best-selling author filed for bankruptcy through one of his companies called Rich Global LLC.
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