Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has explained why he chooses not to invest in a spot bitcoin exchange-traded fund (ETF).
He compared it to his preference for owning physical gold and silver coins, mines, and apartment houses instead of gold or silver ETFs. Kiyosaki, who made headlines this week, believes that the price of bitcoin will eventually reach $2.3 million.
Robert Kiyosaki’s Stance on Spot Bitcoin ETFs
Demand for spot bitcoin exchange-traded funds (ETFs) is surging in the U.S., but Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has explained why he won’t invest in them. The book, co-authored by Kiyosaki and Sharon Lechter in 1997, has been a New York Times Best Seller for over six years, selling over 32 million copies in more than 51 languages across 109 countries.
In a social media post on Friday, Kiyosaki addressed the question of whether he would buy a bitcoin ETF, to which he responded negatively. He compared his preference for physical gold and silver coins, mines, and apartment houses over gold, silver, or real estate ETFs.
“He stated that while ETFs might be suitable for most people and institutions, as an entrepreneur, he prefers to stay away from Wall Street’s financial products”.
Despite his current stance against spot bitcoin ETFs, Kiyosaki previously supported them as an alternative for investors hesitant to buy actual bitcoin.
“However, his views have shifted, aligning with Shark Tank star Kevin O’Leary’s recent statement that he would not buy a spot bitcoin ETF. O’Leary emphasized that there’s no added value to an ETF, preferring to own the coin directly”.
Robert Kiyosaki’s Bitcoin Bullishness
Robert Kiyosaki, a self-proclaimed bitcoin bull, has recently shared his optimistic outlook on the cryptocurrency. He revealed his belief that the price of bitcoin will soar to $2.3 million, referencing a prediction made by Ark Invest CEO Cathie Wood.
In response to economist Harry Dent’s prediction of a potential crash in bitcoin’s price to $200, Kiyosaki expressed his readiness to buy as many coins as possible if such a scenario were to occur.
Advocacy for Bitcoin and Cryptocurrency
Kiyosaki has been vocal about his advice for investors to move away from the U.S. dollar and invest in bitcoin, alongside gold and silver. He considers bitcoin to be the perfect asset at the right time and has criticized the USD, labeling it a “giant Ponzi scheme.”
Earlier predictions from Kiyosaki suggested that bitcoin would reach $100K by September, underscoring the significance of the halving. He has also confidently stated that BTC is on track to reach $300K by the end of the year.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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