Robert Kiyosaki, author of the book Rich Dad Poor Dad, states that he expects a long-term rise in Bitcoin (BTC). However, Kiyosaki also warns that BTC may test lower levels before seeing higher price levels.
Why Does Kiyosaki Trust BTC?
One of the popular names in the market, Kiyosaki states that he trusts the leading cryptocurrency Bitcoin, even if there is a 70% decrease from the current price levels. In his statements on this subject, Kiyosaki said, “I continue to have an upward expectation for the future of Bitcoin. But I am waiting for new lows to be tested.” used his words.
The popular name believes that the long-term rise will come even if the levels of 20,000, 14,000, 11,000 and even $ 9,000 are seen in Bitcoin. Because Kiyosaki states that he believes the Fed and the Treasury are corrupt institutions.
At this point, Kiyosaki stated that after the UST incident, he had previously questioned the validity of stablecoins on stablecoins. Kiyosaki used the following words on the subject:
I was right: why are stablecoins unstable? Just before the situation with stable cryptocurrencies, I warned that they are unstable.
Kiyosaki’s Stablecoin Remarks
In a previous YouTube interview, Kiyosaki voiced his skepticism about stablecoins, arguing that stablecoin issuers carry counterparty risk as they could potentially fail to meet their contractual obligations.
In addition, Kiyosaki states that he invests in gold and silver and that these assets do not carry counterparty risk. Because according to my popular name, these assets really have a monetary value. However, stablecoins also have counterparty risk, and according to his statements, Kiyosaki does not trust companies that issue stablecoins.
Although there has been increased confusion about stablecoins, many investors still use stablecoins. Tether (USDT), the largest stablecoin in the market, is the 3rd largest cryptocurrency with a value of $ 73.1 billion.