Despite the FTX crisis, Rich Dad author, R. Kiyosaki remains bullish on Bitcoin and Ethereum.
November 23, 2022
The cryptocurrency market is still reeling from the massive crisis caused by the crypto trading platform FTX, but Robert Kiyosaki, author of the personal finance book ‘Rich Dad, Poor Dad,’ remains bullish on the top two digital assets by market cap.
Indeed, Kiyosaki stated that he did not consider FTX to be the representative of the entire crypto industry in an interview with iHeart radio host and ‘Uncommunist Manifesto’ author Mark Moss, which was published on November 21.
“I’m still bullish on Bitcoin,” he said, “but silver and the silver ETF are not the same thing.” Furthermore, Bitcoin is not the same as Sam Bankman-Fried. (…) It’s FTX that’s the problem.”
According to Kiyosaki, many people his age are staying away from cryptocurrency, especially after the recent crisis, but he remains a believer:
“I still believe in Bitcoin.” I’m not opposed to it, as many people in my genre and age group are, because I believe Bitcoin is solid. I’m actually more interested in blockchain, and I own Ethereum.”
To recap, the widespread trouble in the crypto market began when Sam Bankman-crypto Fried’s exchange halted client withdrawals citing a liquidity crisis. In the ensuing chaos, the prices of most decentralized finance (DeFi) tokens, including BTC and ETH, plummeted dramatically.
As of press time, Bitcoin was trading at $15,699, breaking the previous support level of $15,800 and losing 2.07% on the day and 7.13% over the previous week, according to charts.
According to combined Finbold and CoinMarketCap data retrieved on November 22, the current price represents a cumulative loss of 18.19% on Bitcoin’s monthly chart, while its market capitalization stands at $301.7 billion.
Meanwhile, Kiyosaki has remained one of the most vocal supporters of cryptocurrency, particularly Bitcoin (BTC), which he stated in the interview he purchased at around $6,000 and is still holding.