By Kevin Helms
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, is still bullish on bitcoin despite the collapse of crypto exchange FTX. He stressed that the cryptocurrency cannot be blamed for the actions of former FTX CEO Sam Bankman-Fried.
Robert Kiyosaki Still Bullish on Bitcoin
The author of Rich Dad Poor Dad, Robert Kiyosaki, discussed the FTX collapse and bitcoin with guest Mark Moss on the Rich Dad Radio Show which 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 Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Moss is a radio host and the author of “Uncommunist Manifesto.”
After listening to Moss outlining the problems at FTX and numerous fraudulent actions allegedly conducted by its 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 one cannot blame silver if silver exchange-traded funds (ETFs) are mismanaged. He revealed that he owns a lot of silver and gold but does not have any silver or gold ETFs.
The famous author called FTX “one of the biggest scams in history.” He additionally described: “FTX is a Ponzi scheme where they depended upon the funds from the next stupid investors to finance it.” Despite the FTX fiasco and the subsequent crypto market sell-offs, Kiyosaki reiterated:
Once again, ladies and gentlemen, I’m still in favor of bitcoin. I’m not against it as many people in my age group are because I think bitcoin is solid.
Kiyosaki has also been warning about the U.S. economy. On Friday, he tweeted: “The world economy is not a ‘market.’ I believe [the] economy is the biggest bubble in world history.”
The renowned author has cautioned on several occasions that stock, bond, and real estate markets are all crashing. He has urged investors to buy cryptocurrency now before the biggest crash in world history happens.
Last week, Kiyosaki similarly said that bitcoin isn’t the problem in the meltdown of FTX. He called Bankman-Fried the Bernie Madoff of crypto. He also recently clarified that he’s a bitcoin investor, not a trader, and he gets excited when BTC hits a new bottom.