Robert Kiyosaki is Still Bullish on Crypto Despite FTX Debacle

Robert Kiyosaki who is known for his financial literacy initiative has claimed that he is still bullish on Bitcoin and Ethereum. At present, the cryptocurrency market is under depression from the ongoing cascading impact of the FTX collapse.

Following the bankruptcy proceedings of FTX Group, many related cryptocurrency projects such as Solana were also affected.

However, the author of Rich Dad, Poor Dad claimed that he is confident that Bitcoin and Ethereum are still going to recover and print massive profits. He has also made it clear that he did not perceive FTX as the spokesperson for the entire DeFi sector.

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He was speaking to iHeart radio on the show alongside the author of Uncommunist Manifesto Mark Moss.

Unique Characteristics of Bitcoin

The financial educationist and philanthropist claimed during the interview that Bitcoin is distinctive from FTX or SBF. He also claimed that FTX was the problem implying that it has been rooted out. He also addressed the matter of the people of his generation staying away from the crypto sector.

However, he maintained that he is a staunch believer in the stability of Bitcoin and outright said that he is in favor of Bitcoin.

On the other hand, he claimed that the people of his generation could make their financial choices but he opines that Bitcoin is a solid investment option. He clarified that he has a good impression of blockchain and also mentioned that he holds ETH in his portfolio.

The impact of FTX’s bankruptcy can be felt throughout the cryptocurrency markets. The fear and greed index is at its peak and burning with a bright red hue.

On the other hand, retail investors are in a state of panic and exited their positions creating a liquidity crunch. During this chaos altcoins and DeFi tokens suffered massive retracements.

At press time, the price of Bitcoin is dangling at the $15K level. It has plunged from its support of $15,800 on intraday trade. CoinMarketCap data suggests that the market cap is currently dropping to $301.7 billion.

Despite, all the tumult and turbulence, Robert Kiyosaki has remained steadfast in his bullish stance toward Bitcoin and Ethereum.

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