Robert Steinadler, 6 months ago
Robert Kiyosaki wrote “Rich Dad Poor Dad” and became famous by providing insights on the mindset of rich people. This brought him international attention and a considerable followership on social media. Kiyosaki is well known to share his thoughts on events that concern the financial world. He is also a huge fan of Bitcoin and one of its most outspoken proponents.
What are his thoughts on Bitcoin and the bear market?
According to a series of tweets, Kiyosaki believes that Bitcoin could see new lows between $10,000 and $12,000. Such price targets are not worrisome to the author, instead, he announced that these prices would be good enough for him to buy more Bitcoin.
Kiyosaki also revealed that he invests in Bitcoin for the same reasons he is investing into gold, silver and real estate. It appears that he is not trusting in the Fed's ability to maintain the current financial system and keep it from falling apart. While inflation is, in fact, a huge problem for western nations, the Fed repeatedly increased interest rates throughout this year with little success. It remains to be seen if the Fed can push down inflation without hurting the markets too much.
It was during one of the recent episodes of the “Rich Dad Radio Show” when Kiyosaki gave his piece of mind on FTX and the impact on the market. Bitcoin is not to blame for the risk the company and his CEO took when borrowing funds against illiquid tokens.
Kiyosaki emphasized that Bitcoin is not the problem, but the fraudulent actors who were behind FTX. The author even dared to call FTX one of the biggest scams in history. Many people feel the same, but the observation is wrong since there were even bigger incidents in the past. With Bernie Madoff setting a record with $65 billion in damages in 2009. Madoff was later sentenced to 150 years in prison where he passed away in April 2021.
Unlike many other people in his age group Kiyosaki believes that Bitcoin is solid as a technology and as an investment. He was not the only Bitcoin proponent who voiced his opinion recently. Elon Musk, Edward Snowden as well as billionaire Bill Ackman reinforced their views in public on Bitcoin and the broader crypto ecosystem. It appears that all of these proponents believe that it will take some time until the market recovers, but eventually, it will.
May 22, 2023
Every year the Bitcoin community is celebrating the fact that somebody bought two pizzas online. This looks a little bit strange at first glance but it is one of the most important moments in Bitcoin’s history. What is Bitcoin Pizza Day all about and why is everybody celebrating it?
May 22, 2023
The guys who self-identify as the Taproot Wizards - Eric Wall and Udi Wertheimer - entered the main stage of Bitcoin Miami to loud cheers. After their short and silly wizard dance, the panel discussion started in earnest. But not everyone in the Bitcoin community is a fan of their quirky attitude and projects.
May 19, 2023
We wrote about it earlier: Jason Lowery believes Bitcoin could become the world's reserve currency and that countries should engage in a peaceful "arms race" to mine Bitcoin. He believes Bitcoin is a form of digital property that will be defended similar to how navies secure maritime thoroughfare. Not everyone is sold on this concept. Let's discuss a contrarian view.
May 18, 2023
Stablecoin issuer Tether (USDT) in its recent reserves report reveals that the company holds approximately 52 thousand BTC, worth a respectable $1.5 billion. This is only a fraction of its total assets but signals an interesting potential trend of institutions allocating a piece of their capital to Bitcoin.
Sign up to stay informed via our email updates