By Nathan Ferguson
Robert Kiyosaki, the well-known financial expert and the author of the bestseller “Rich Dad Poor Dad,” recently criticized Sam Bankman-Fried. He held the FTX founder responsible for the downfall of the once-popular crypto exchange and pointed toward his potentially deceptive prowess. He noted that Bankman-Fried deceived seasoned investors by his tricks.
Robert Kiyosaki Condemns Bankman-Fried for the Collapse of FTX
He pointed toward Kevin O’Leary of Shark Tank and Jim Cramer of Mad Money on CNBC in this respect. This criticism prolonged the worldwide policies related to finance. It drew parallels between the actions carried out by Bankman-Fried and what Kiyosaki categorizes as fiscal misconduct by monetary officials. He has many times criticized the economic approach of the government in the United States.
Particularly, he condemned the money-printing operations of the US authorities during the COVID-19 pandemic. He noted in his recent post that the public should evade the economic turmoil resulting from such high-level misjudgments. Nonetheless, irrespective of the grim outlook, the finance expert has expressed support for systematic investment in several assets. They take into account Bitcoin, silver, and gold.
The Finance Expert Advises Accumulating Precious Assets
In addition to this, he also provided instances from his investment venture. Thus, he emphasized his status as an average investor instead of a fortune-pursuing tycoon. He focused on the strategy of collecting wealth via accessible assets. The investment-related philosophy of Kiyosaki deals with wealth accumulation for the long-term. It favors assets such as Bitcoin and precious metals.
While providing more details about this, he said that his initial purchase of gold cost him $50 at that time. On the other hand, he added, its current worth is up to $2,000. The respective instance highlights his method of dealing with gradual investment. This is also called dollar-cost averaging and he endorses it as a functional route to prosperity. While discussing crypto, Kiyosaki still expressed a bullish sentiment about Bitcoin despite the fluctuations in the market.
‘Rich Dad Poor Dad’ Author Is Still Bullish on Bitcoin
He predicted that the top crypto asset would reach the level of almost $500,000 by the year 2025. Contrarily, his recent statements indicate a very conservative target of up to $135,000 in the immediate future. In recent times, the crypto asset saw a good time with an upsurge of almost 15.81% within just 3 days. It momentarily reached beyond the level of nearly $34,500.
Nevertheless, it has also seen a two percent reduction in its price afterward. The comments of Kiyosaki come at a time when wider conversations are taking place regarding the crypto industry’s fluctuation. Along with that, the financial leadership’s reliability around the globe is also being discussed nowadays. The respective things are attracting contemplation regarding the contemporary and conventional forms of investment.
Moreover, the community members and experts are also discussing the sensible management of national and personal finances. The insights given by the ‘Rich Dad Poor Dad’ author play the role of a bellwether to lead the individuals. The respective views navigate the people in the financial world through the complicated investment sector.
Apart from cautioning about fiscal management, Kiyosaki also advocated for a systematic and accessible investment. Furthermore, he also guided the unpredictability within the economic world. Kiyosaki’s narrative keeps on impacting the discourse related to financial competency as well as accountability in the current society.