Rich Dad Poor Dad author Robert KiyosakiHe thinks that the Bitcoin (BTC) price trend is bullish in the long term, but BTC could drop much lower before it hits the bottom.
The famous investor with 1.9 million followers on Twitter believes that Bitcoin continues to have great potential in the long run, even if it loses 70% from current levels.
“I continue to be optimistic about the future of Bitcoin and believe it will rise. At the moment I continue to wait for a new low level test. I don’t know if this level will be $20,000, $14,000, $11,000 or even $9000. Regardless, I believe it will rise. Because I think the Fed and the Treasury are corrupt institutions.”
Bitcoin (BTC)was trading at $29,150, down over 55% from the all-time high of $69,000 at the time of writing.
Earlier this week, TerraUSD (UST) After his stablecoin lost its stablecoin, Kiyosaki recalled that he questioned the validity of stablecoins, which are crypto assets designed to trade one-to-one against fiat currencies such as the US dollar.
“I was right: ‘why STABILCOINS ARE UNSTABLE’. Right before the stablecoins crashed, I warned them that they were unstable.”
Speaking in an earlier 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.
“One of the reasons I have gold coins, I mean real gold coins and real silver coins, is because there is no counterparty risk. So, they are money. So when you say it’s a dollar, someone declares it a dollar and that’s it. [Stabilcoin durumunda] Who is the opponent? The Wizard of Oz?”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.