I’m Still Bullish on Bitcoin – Crypto Can’t Be Blamed for FTX Collapse – Featured Bitcoin News

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, remains bullish on bitcoin despite the collapse of the crypto exchange FTX. He emphasized that the cryptocurrency cannot be blamed for the actions of former FTX CEO Sam Bankman-Fried.

Robert Kiyosaki Still Bullish on Bitcoin

Rich Dad Poor Dad author Robert Kiyosaki discussed the FTX collapse and bitcoin with guest Mark Moss on the Rich Dad Radio Show that aired 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 ​​in more than 109 countries. Moss is a radio host and author of the “Uncommunist Manifesto”.

After listening to Moss outline the problems at FTX and a series of fraudulent acts allegedly committed by former CEO Sam Bankman-Fried (SBF), Kiyosaki emphasized:

I’m still bullish on bitcoin … Bitcoin is not the same as Sam Bankman-Fried. It’s not bitcoin, it’s FTX that’s the problem.

Kiyosaki noted that bitcoin cannot be blamed for the fall of FTX and Bankman-Fried in the same way that one cannot blame silver if silver exchange-traded funds (ETFs) are mismanaged. He revealed that he owns a lot of silver and gold, but has no silver or gold ETFs.

The famous author called FTX “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 fund it.” Despite the FTX fiasco and subsequent sell-off in the crypto market, Kiyosaki reiterated:

Once again, ladies and gentlemen, I’m still in favor of bitcoin. I’m not against it like many in my age group are because I think bitcoin is solid.

Kiyosaki has also warned about the US economy. On Friday, he tweeted: “The world economy is not a ‘market’. I think [the] economy is the biggest bubble in world history.”

The renowned author has warned on several occasions that the stock, bond and real estate markets will crash. He has urged investors to buy cryptocurrency now before the biggest crash in world history happens.

Last week, Kiyosaki similarly said that bitcoin is not the issue in the FTX meltdown. He called Bankman-Fried Bernie Madoff crypto. He also recently clarified that he is a bitcoin investor, not a trader, and he gets excited when BTC hits a new low.

What do you think of Robert Kiyosaki’s comments? Let us know in the comments section below.

Kevin Helms

A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.