Rich Dad Poor Dad Author Details Potential Bitcoin Price Target, Says Bet on Top Crypto Assets and Against the Federal Reserve
Rich Dad Poor Dad author Robert Kiyosaki questions how low Bitcoin could go as the fallout from the collapse of FTX continues.
Kiyosaki says that he is a long term investor of BTC rather than a trader and he is not looking to flip the top crypto asset by market cap.
If the royal crypt faces another dramatic downturn, Kiyosaki says he’ll be excited rather than worried as he bets against the Federal Reserve, the U.S. Treasury Department and the current administration.
As for his price target, Kiyosaki believes a new bottom is coming and could be as low as $10,000.
“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 [a] new bottom, $10,000 to $12,000? I’ll be UP, not worried. I’m betting against the Fed, [the] Treasury … and bet on [gold, stocks]and Bitcoin.”
Last month, Kiyosaki issued a dire economic warning, saying a massive financial collapse is imminent. He said that the only way for traders to protect their wealth is to invest in gold, silver and BTC. He also recommended coming up with alternative income streams.
“Gold, Silver, Bitcoin can protect your KINGDOM… but not your INCOME. Like [the] the economy crashes, stock markets crash, pensions crash and unemployment rises, a SIDE-CAS can give you income. Who knows? Your side hustle can grow into the next Amazon or Bitcoin. Have a good time. Be aware of.”
Bitcoin is changing hands at $16,844 at the time of writing, down 5.6% in the last 24 hours and down 21% from its seven-day high of $21,417.
Kiyosaki’s career has not been without controversy. In 2013, a class action lawsuit was filed against him by people who were not satisfied after attending his paid seminars.
Back in 2012, the one-time best-selling author also filed for bankruptcy through one of his companies called Rich Global LLC.
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