Home Author Rich Dad Poor Dad Author Warns Bitcoin (BTC) Could Test New Epic Lows – Here Are His Targets

Rich Dad Poor Dad Author Warns Bitcoin (BTC) Could Test New Epic Lows – Here Are His Targets

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Rich Dad Poor Dad author Robert Kiyosaki says he’s long-term bullish on Bitcoin (BTC), but says BTC could drop much lower before sinking to a bottom.

The widely followed investor recount his 1.9 million Twitter followers why he believes in Bitcoin’s long-term potential even though BTC is falling nearly 70% from current levels.

“I remain optimistic about the future of Bitcoin. Awaiting test of new bottom. $20,000? $14,000? $11,000? $9,000? Why do I remain bullish? [Because I believe that the] The Fed and the Treasury are corrupt organizations.

Bitcoin is trading for $29,150 at the time of writing, down more than 55% from its all-time high of around $69,000.

Earlier this week, following the unpecking of the stablecoin TerraUSD (UST), Kiyosaki reminded that he had questioned the validity of stablecoins, which are crypto assets designed to trade one-for-one against fiat currencies such as the US dollar.

“I was right: ‘Why are STABLE COINS UNSTABLE.’ Just before the stablecoins crashed, I warned that they were unstable.

In a previous YouTube interview, Kiyosaki expressed his doubts about stablecoins arguing that stablecoin issuers pose counterparty risk as they could potentially default on their contractual obligations.

“One of the reasons I have gold coins, and I mean real gold coins and real silver coins, is that there is no counterparty risk. I mean, they’re the money. So when you say there’s a dollar, somebody says it’s a dollar and all that. Who’s the counterpart [in the case of stablecoins]? Is it the Wizard of Oz?

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