‘Rich Dad’ R. Kiyosaki says he’s ‘still bullish’ on Bitcoin and Ethereum despite FTX crisis

The cryptocurrency market is still feeling the effects of the massive crisis that spilled over from the crypto trading platform FTX, but the author of the personal finance book ‘Rich Dad, Poor Dad’ Robert Kiyosaki, is still confident about the top two digital assets by market cap.
Indeed, Kiyosaki voiced his opinion that he didn’t consider FTX the representative of the entire crypto industry, as he explained in his interview with iHeart radio host and ‘Uncommunist Manifesto’ author Mark Moss, published on November 21.
Specifically, he said:

“I’m still bullish on Bitcoin but don’t consider silver and the silver ETF the same thing. And Bitcoin is not the same as Sam Bankman-Fried. (…) It’s FTX that’s the problem.”

According to Kiyosaki, a lot of people in his age demographic are staying away from crypto, especially after the recent crisis, but he is still a believer:

“I’m still in favor of Bitcoin. I’m not against it as many people in my genre, in my age group, are, because I think Bitcoin is solid. I’m actually more into blockchain and I do own Ethereum.”

FTX crash continues causing chaos
As a reminder, the wide-reaching trouble in the crypto market started after Sam Bankman-Fried’s crypto exchange halted clients’ withdrawals citing a liquidity crunch. In the chaos that ensued, most decentralized finance (DeFi) tokens suffered a dramatic decline in price, including BTC and ETH.
At press time, Bitcoin was changing hands at $15,699, breaking the previous support at $15,800 and losing 2.07% on the day and 7.13% across the previous week, as charts show.

Bitcoin 7-day price chart. Source: Finbold

The current price also represents a cumulative loss of 18.19% on Bitcoin’s monthly chart, while its market capitalization stands at $301.7 billion, as per combined Finbold and CoinMarketCap data retrieved on November 22.
Meanwhile, Kiyosaki has remained one of the most vocal supporters of crypto, particularly of Bitcoin (BTC), which, as he affirmed in the interview, had purchased at around $6,000 and was still holding on to it.
Featured image via The Rich Dad Youtube Channel
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This article has been originally published at: https://finbold.com/rich-dad-r-kiyosaki-says-hes-still-bullish-on-bitcoin-and-ethereum-despite-ftx-crisis/?SNAPI