Rich Dad Poor Dad author Robert Kiyosaki is questioning just how low Bitcoin may go as the fallout from the collapse of FTX continues.
Kiyosaki says that he’s a long-term investor of BTC rather than a trader, and he’s not looking to flip the top crypto asset by market cap.
If the king crypto faces another dramatic downturn, Kiyosaki says he’ll be excited rather than worried as he’s betting against the Federal Reserve, the U.S. Treasury, 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 will get EXCITED, not worried. I bet against the Fed, [the] Treasury… and bet on [gold, stocks], and Bitcoin.”
Last month, Kiyosaki issued a dire economic warning, saying that 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 streams of income.
“Gold, silver, Bitcoin may protect your WEALTH… but not your INCOME. As [the] economy crashes, stock markets go bust, pensions crash and unemployment rises, a SIDE HUSTLE may provide you income. Who knows? Your side hustle may grow into the next Amazon or Bitcoin. Take care. Be aware.”
Bitcoin is changing hands for $16,844 at time of writing, a 5.6% decrease during the last 24 hours and a 21% dip 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 once best-selling author also filed for bankruptcy through one of his companies called Rich Global LLC.
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