Renowned best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, remains bullish on bitcoin despite the collapse of the crypto-currency exchange FTX. He stressed that the crypto-currency cannot be held responsible for the actions of former FTX CEO Sam Bankman-Fried.
Robert Kiyosaki still optimistic about bitcoin
Rich Dad Poor Dad author Robert Kiyosaki discussed the FTX and bitcoin collapse with guest Mark Moss on the Rich Dad Radio Show broadcast earlier this week.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. More than 32 million copies of the book have been sold in over 51 languages and in more than 109 countries. Moss is a radio host and author of “Uncommunist Manifesto“.
After listening to Moss outline FTX’s problems and the many fraudulent actions allegedly taken by its former CEO Sam Bankman-Fried (SBF), Robert Kiyosaki pointed out:
I’m still optimistic about bitcoin… Bitcoin is not the same as Sam Bankman-Fried. It’s not bitcoin, it’s FTX that’s the problem.
Robert Kiyosaki noted that bitcoin cannot be blamed for the downfall of FTX and Sam Bankman-Fried in the same way that silver cannot be blamed if silver exchange traded funds (ETFs) are mismanaged. He revealed that he owned a lot of silver and gold but did not have any silver or gold ETFs.
The famous author referred to FTX as “one of the biggest scams in history“. He further described, “FTX is a Ponzi scheme where they depended on the funds of the next stupid investors to finance it.“Despite the FTX fiasco and subsequent sell-off in the crypto market, Kiyosaki reiterated:
Again, ladies and gentlemen, I am still in favor of bitcoin. I’m not against it, like a lot of people my age, because I think bitcoin is solid.
Robert Kiyosaki has also issued warnings about the U.S. economy. On Friday, he tweeted, “The global economy is not a ‘market’. I believe that [the] the economy is the biggest bubble in world history.“
The renowned author has repeatedly warned that the stock, bond and real estate markets are all crashing. He urged investors to buy crypto-currencies now before the biggest crash in world history happens.
Last week, Robert Kiyosaki also said that bitcoin was not the problem in the FTX collapse. He called Bankman-Fried the Bernie Madoff of crypto. He also recently clarified that he is a bitcoin investor, not a trader, and that he gets excited when bitcoin is on sale. Bitcoin is hitting a new low.