Why in News?
The author of “Rich Dad, Poor Dad,” a book about personal finance, Robert Kiyosaki, is still positive about the highest-ranked crypto-assets by market valuation. Even if the cryptocurrency sector is still suffering from the severe crisis that resulted from the crypto trading site FTX.
As he stated in his recent interview with iHeart radio show host and author of the “Uncommunist Manifesto,” Mark Moss, released on November 21, Kiyosaki expressed his perspective that he didn’t perceive FTX as the representative of the overall crypto sector.
He specifically stated, “I’m still positive on Bitcoin, but I don’t see silver and the silver ETF as being equivalent. And Sam Bankman-Fried and Bitcoin are not the same things. (…) That which is a difficulty is FTX”.
Even though many individuals in his age group are avoiding cryptocurrency, particularly in the wake of the recent crisis, Kiyosaki is indeed a believer:
“Bitcoin is still something I support. Because I believe Bitcoin to be reliable, I am open to it like many others in my genre and age range. I am more interested in blockchain technology and hold Ethereum.”
The FTX disaster is still causing turmoil.
Recall that Sam Bankman-crypto Fried’s exchange stopped accepting withdrawals from users, alleging a lack of liquidity. This was the beginning of the extensive problems in the cryptocurrency market.
Most decentralized finance (DeFi) currencies experienced a sharp drop in value in the unrest, namely BTC and ETH.
At the time of publication, data showed that Bitcoin was down 2.07% on the day and 7.13% over the previous week as it was trading at $15,699, shattering the previous support level of $15,800.
According to the combination of Finbold and CoinMarketCap statistics gathered on November 22, the current price of Bitcoin reflects a comprehensive loss of 18.19% on the cryptocurrency’s monthly chart. In contrast, its market capitalization is $301.7 billion.
Kiyosaki has continued to be one of the most outspoken advocates for cryptocurrencies, particularly Bitcoin (BTC). He acknowledged in the interview that he had bought it at roughly $6,000 and is now holding onto it.