Bitcoin
‘Rich Dad, Poor Dad’ Author Robert Kiyosaki Questions Authenticity of Bitcoin ETFs: ‘ETFs Are Fake Gold, Silver or Bitcoin’
Robert Kiyosakithe renowned author of “Rich Dad, Poor Dad” has expressed his concerns about Bitcoin ETFs, questioning its authenticity.
What happened: Kiyosaki expressed his doubts about Bitcoin ETFs, stating his reluctance to invest in them. He compared them to gold and silver ETFs, arguing that these financial tools do not accurately reflect the assets they purport to represent.
Kiyosaki’s skepticism centers on the authenticity of ETFs. In a post on X on Thursday, he noted that a gold ETF could potentially sell the same ounce of gold multiple times, making it an inadequate substitute for owning physical gold.
That’s why he prefers to hold real gold, silver, and Bitcoin, which he keeps safe and away from traditional financial institutions and Wall Street.
His views are in line with his long-standing criticisms of traditional financial market instruments and the Federal Reserve’s monetary policies.
Kiyosaki has consistently expressed his belief that the dollar is a “fake” currency and urged people to invest in what he considers real money: BTC, gold, and silver.
According to Kiyosaki, these assets are tangible and belong to people, unlike ETFs and other financial products traded on the market.
Why does this matter?: Previously, Kiyosaki had disclosed his purchase of 5 additional Bitcoins amid Securities and Exchange Commission Approval of Bitcoin ETFs.
However, his recent comments reveal a shift in his stance. Kiyosaki’s disinterest in Bitcoin ETFs aligns with his preference for direct ownership of assets on Wall Street financial products.
This development is significant as it highlights the ongoing debate over the authenticity and value of ETFs in the cryptocurrency market.
Image created using photos from Flickr and Shutterstock