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Robert Kiyosaki, author of ‘Rich Dad Poor Dad,’ has dropped his take on Bitcoin exchange-traded funds (ETFs). The businessman and entrepreneur who has never hidden his dislike for fiat currency and U.S. bonds has criticized Bitcoin ETFS.
Why Kiyosaki Rejects Bitcoin ETFs
Kiyosaki’s post on X stated, “In my opinion, ETFs are as fake as the U.S. dollar and U.S. bonds.” This is a very strong opinion on the financial system. The author, however, clarified that it is just his “opinion” on the asset class.
According to Kiyosaki, his decision to share his opinion flows from what he considers a looming financial crisis. Notably, he refers to the stock market crash, which he wrote about in his 2014 book ‘Rich Dad Prophecy.
The author believes the crisis will soon hit, and baby boomers will be the most affected among the millions whose financial security is at risk. This is because, unlike previous generations, such as the World War II generation, baby boomers do not have guaranteed retirement payments.
Instead, their retirement funds depend on market performance, meaning a market crash could result in a loss of savings.
Kiyosaki’s Case for Hard Assets over Paper Investments
Kiyosaki maintains that people should embrace and hold real assets instead of investing in bonds, fiat currency, or Bitcoin ETFs. He advocates physical gold, silver, and Bitcoin. The author insists that investors need gold ETFs or Bitcoin ETFs, not just pieces of paper claiming ownership of these assets.
Notably, Kiyosaki considers such ETFs equivalent to government bonds or fiat currency, creating an extra layer between an investor and real ownership.
He expects people to know these things but notes that the education system has failed by not teaching financial literacy. Kiyosaki argues that Wall Street profits from financially uninformed investors. He advises individuals to secure their wealth in tangible assets instead of trusting financial institutions.
Bitcoin Market Outlook
Meanwhile, as of this writing, Bitcoin has declined by 3.83% in the last 24 hours to trade at $83,030.93. This dip has affected investors’ confidence as trading volume has plummeted by 48.95% to $19.18 billion.
However, Bitcoin technical indicators suggest a reversal could occur to help the asset overcome the bearish pressure. Some believe Bitcoin could flip its all-time high by mid-year.
