Sam Bankman-Fried’s Controversies Examined by ‘Rich Dad, Poor Dad

Renowned financial educator and investor, Robert Kiyosaki, author of the widely acclaimed book “Rich Dad, Poor Dad,” and a vocal advocate of Bitcoin, recently utilized his platform on a popular social media network to address the actions of Sam Bankman-Fried (SBF), the founder of the defunct cryptocurrency exchange FTX.

Kiyosaki’s 2.4-million strong following was reminded that SBF had managed to deceive notable figures in the stock market world, including Jim Cramer, host of CNBC’s “Mad Money,” and Kevin O’Leary, also known as “Mr. Wonderful” from “Shark Tank.” O’Leary was one of the investors in FTX, and he defended SBF even after the exchange’s collapse, SBF’s subsequent custody, and the widespread allegations of his involvement in fraudulent activities.

Kiyosaki went on to ponder whether SBF would be as successful at deceiving a judge and jury as he had been at misleading investors. In the same breath, Kiyosaki critiqued the actions of the Federal Reserve chairman and the Treasury secretary, comparing them to the financial deception he believes has plagued the world.

Kiyosaki’s message to his audience was a call to “wake up and get smart,” highlighting the financial troubles he believes have arisen due to incompetence on a global scale. He emphasized the need for individuals to take control of their financial destinies and urged them to say, “Our world is in financial trouble because of your financial incompetence. Keep your hands off our money.”

Earlier in the week, Kiyosaki mentioned that his preferred assets, which he asserts are within reach for everyone, namely gold, silver, and Bitcoin, had experienced a slight price drop. Kiyosaki’s investment approach doesn’t mirror Warren Buffett’s, who famously times market bottoms, but instead focuses on accumulating assets for long-term holding.

He disclosed that he has been steadily accumulating gold, silver, Bitcoin, and real estate over the years, mentioning that he acquired his first gold coin for $50, which is now valued at $2,000. Kiyosaki advocated for the idea that average investors can achieve wealth by using dollar-cost averaging as a strategy.

On the topic of Bitcoin, Kiyosaki previously projected that BTC would reach $500,000 by 2025. However, his most recent prediction points to a target of $135,000. This comes on the heels of an impressive 15.81% surge in Bitcoin’s price between Sunday and Tuesday, with the digital asset surpassing the $34,500 mark. As of this report, Bitcoin is trading at approximately $34,065, marking a minor 2% drop over the past two days.

About the Author:

Danilo is a seasoned crypto journalist with a profound interest in technological advancements. He has been involved in the crypto space since 2017 and firmly believes in the transformative potential of blockchain and cryptocurrencies in various aspects of our future. An advocate and holder of major cryptocurrencies, his work has been recognized and quoted by influential figures in the crypto industry, including Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, and more.