The foundations of the industry giants are cracking and the central crypto companies are in a difficult situation due to their risky relationships with each other. Excessive leverage began to be cleared from the market. Hedge funds, crypto lending companies that have been carrying high-risk positions and teetering on the edge of the abyss for some time are going bankrupt. So how should we read all this? What did the famous economist known to the world say about Bitcoin, gold and silver?
Bitcoin, Gold and Silver Warning
Robert Toru Kiyosaki is a well-known American businessman and writer. There is no place around the world, including Turkey, where the book “Rich dad, Poor dad” is not known. the 75-year-old Kiyosaki still provides consultancy services and trainings in the field of economics. There is something he always says, “you get rich by accumulating assets,” so even if your investments that cost you money are convertible assets, they will not make you rich. An example of this can be given at home.
Robert Kiyosaki took over the head of his Twitter account early today morning and issued the following warning to the 2.2 million users who follow him;
“What will you do? Will you get richer or poorer? When the Fed, Treasury and Wall Street print trillions of fake dollars, those who own gold, silver and Bitcoin will get richer. Those who hoard fake money will be the biggest losers. Don’t be one of the losers.”
Kiyosaki thinks that the Fed will start aggressively printing dollars from the yen. If the probability of a recession next year becomes even stronger, it is not impossible. The Fed will not want to see historic unemployment rates at the expense of beating inflation. Recession, that is, people becoming unemployed, is at least as serious a problem as inflation, and it is something that states should be afraid of.
2023 Crypto Coins
This year is literally becoming a real cleaning year. The disclosure of fraudsters such as 3AC, SBF showed how many bad players there are in the industry. Bitcoin experienced a bullish period last year, which was strengthened by the crypto credit furor. But this place has created a stress similar to that of fault lines in the sphere. This would trigger a major earthquake for crypto companies that take excessive risks and are not afraid to jeopardize customer deposits. Indeed, in the LUNA incident, some actors forced this fault line to break. But then hundreds of players, including themselves, received irreparable injuries in the concussion.
- LUNA’s UST was deliberately sent into bankruptcy.
- 3AC went bankrupt due to the LUNA collapse.
- Celsius, Voyager and BlockFi went bankrupt due to the recent general market collapse, 3AC bankruptcy.
- Genesis lost a serious amount of money due to the 3AC exposure, and the DCG parent company backed it.
- FTX reduced a significant part of its liquidity to a minus in its high-risk positions, and then CZ drew everyone’s attention to FTX and initiated bankruptcy.
- Due to the deteriorating market conditions and commercial connections with FTX, Genesis (the largest crypto credit lender) began to consider the bankruptcy option, as FTX went bankrupt.
There are hundreds of details in between, but everything looked like dominoes Decimating each other. So what will happen in 2023? For now, the big earthquake seems to have passed, but aftershocks may continue. The biggest of them will be the possible collapse of Genesis. Anack By the middle of 2023, all these risky structures (companies) will have been demolished and cleaned up. Either they will stop hiding the damage they received as a result of the earthquake and collapse, or the states will do this with their regulation and supervision. When all the rotten companies are cleaned up, a new story can be written for crypto. We can say that the institutional attack on the market has started with the regulations that have become clear.
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