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

Rich Dad Poor Dad author Robert Kiyosaki says he’s bullish on Bitcoin (BTC) in the long term, but says BTC could fall much lower before it bottoms.

The well-publicized investor tells his 1.9 million Twitter followers why he believes in Bitcoin’s long-term potential, even as BTC falls nearly 70% from current levels.

“I remain optimistic about the future of Bitcoin. Waiting for the new floor to be tested. $20,000? $14,000? $11,000? $9,000? Why am I staying optimistic? [Because I believe that the] The Fed and the Treasury are corrupt organizations.”

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

Earlier this week, following the de-pegging of stablecoin TerraUSD (UST), Kiyosaki recalled that he had questioned the validity of stablecoins, which are crypto assets designed to be traded one-for-one against To be traded in fiat currencies such as the US dollar.

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

In a previous YouTube interview, Kiyosaki had expressed his doubts about stablecoins, arguing that stablecoin issuers pose a counterparty risk as they may not be able to meet their contractual obligations.

“One of the reasons I have gold coins, and I mean real gold coins and real silver coins, is because there is no counterparty risk. I mean they are the money. So when you say there’s a dollar, someone explains it’s a dollar, and so on. Who is the counterparty [in the case of stablecoins]? Is it the Wizard of Oz?”

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