Robert Kiyosaki, author of Rich Dad Poor Dad, is optimistic for Bitcoin (BTC) in the long run, but says BTC could fall much further before it bottoms out.
well-known investor inform His 1.9 million Twitter followers are why he believes in Bitcoin’s long-term potential, even if BTC is down nearly 70% from current levels.
“I am optimistic about the future of Bitcoin. Waiting for the new floor test. $20,000? $14,000? 11,000 dollars? 9,000 dollars? Why do I stay bullish? [Because I believe that the] The Fed and the Treasury are corrupt organizations.”
Bitcoin is trading at $29,150 at the time of writing, down more than 55% from its all-time high of around $69,000.
Following the removal of pegging of TerraUSD (UST) stablecoin Kiyosaki earlier this week recall He questioned the validity of stablecoins, crypto assets designed to trade one-to-one with fiat currencies such as the US dollar.
“I was right: ‘Why stablecoins are unstable.’ We warned that stablecoins were unstable right before they crashed.”
In a previous YouTube interview, Kiyosaki said that his doubt For stablecoins that claim to carry counterparty risk because the issuer of the stablecoin may default on its contractual obligations.
“One of the reasons I have gold coins is that real gold coins and real silver coins don’t have counterparty risk. I mean, they are money. So when you say you have a dollar someone declares it a dollar. who is the other person [in the case of stablecoins]? Are you the Wizard of Oz?”
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