Kiyosaki highlighted he remains bullish on Bitcoin, saying Bankman-Fried caused the collapse of FTX with his mismanagement. Elon Musk and Michael Saylor agree that the former CEO of the bankrupt cryptocurrency exchange committed stock fraud.
Despite the collapse of FTX, Robert Kiyosaki, the author of the book Rich Dad Poor Dad, remains bullish on Bitcoin (BTC). He recently highlighted that cryptocurrency is not to blame for the actions of Sam Bankman-Fried, the former CEO of the exchange.
The renowned American businessman discussed the collapse of FTX and Bitcoin with financial educator Mark Moss. After the latter outlined the problems of the cryptocurrency exchange, Kiyosaki highlighted he remained bullish on Bitcoin.
According to Kiyosaki, no one can blame Bitcoin for the collapse of FTX but Bankman-Fried for its mismanagement. The investor said he does not hold any silver or gold ETFs, although he owns much of those precious metals.
According to the famous author, FTX is one of the biggest scams in history, describing it as a Ponzi scheme. In that sense, he commented that their financing depended on the funds they received from unsuspecting investors.
Despite the cryptocurrency selloffs following the FTX collapse, Kiyosaki reiterated he was still in favor of Bitcoin. Unlike many people his age, he said he was not against the pioneering cryptocurrency as he considers it solid.
Robert Kiyosaki has warned that the stock, bond, and real estate markets are collapsing, urging investors to buy cryptocurrencies now. He recently stated that he invests in Bitcoin and is happy when its price reaches a new bottom.
Musk and Saylor Criticize WSJ for Praising Sam Bankman-Fried
Although the cryptocurrency market is slowly recovering from the collapse of FTX, some believe the situation remains complex. For example, Elon Musk thinks that Sam Bankman-Fried played a significant role in the downfall of that cryptocurrency exchange.
The CEO of Twitter criticized a Wall Street Journal article titled “Sam Bankman-Fried’s Plans to Save the World Went Down in Flames.” The news agency highlighted the philanthropic goals of the former CEO of FTX, which Musk called a foot massage for a criminal.
Elon Musk believes that such a well-known news agency should not provide positive coverage of Sam Bankman-Fried. He previously argued that the latter could have prevented the collapse of FTX if he had managed it better.
Michael Saylor, the former CEO of MicroStrategy, also reacted to the above Wall Street Journal article, agreeing with Elon Musk. According to the renowned Bitcoin advocate, the former CEO of FTX caused a stock market crash through stock fraud.
Elon Musk and Michael Saylor are just two examples of those who point fingers at the latest actions of the former FTX CEO. Many other figures in the cryptocurrency market are demanding legal action against Sam Bankman-Fried for misusing the funds from his clients.
Meanwhile, Bitcoin is trading at around USD 16,583 and has accumulated a 0.1% loss over the last 24 hours. While its daily trading volume is above USD 17.32 billion, its market capitalization is about USD 318.70 billion, according to CoinGecko.
By Alexander Salazar
