Famous investor and bestselling author of the personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, recently addressed the question of whether he would invest in a Bitcoin (BTC) exchange-traded fund (ETF) on X. Despite being a vocal supporter of BTC, Kiyosaki expressed a negative view on ETFs approved in January 2024, stating he would never invest in any of them.
Kiyosaki criticized exchange-traded funds as ‘fake,’ a sentiment he has also applied to fiat currencies. He noted that this criticism applies to BTC ETFs as well as those linked to commodities like gold and silver. In a tweet, he highlighted the issue with ETFs, stating that a gold ETF can sell 1 ounce of gold multiple times through one ETF.
When asked if he would buy Bitcoin ETFs, Kiyosaki replied ‘No,’ explaining that he holds the same view towards Gold or Silver ETFs, considering ETFs to be artificial representations of gold, silver, or Bitcoin.
Despite his reservations toward ETFs, Kiyosaki emphasized his continued belief in Bitcoin, gold, and silver as valuable assets. He reiterated his preference for these assets over what he considers ‘scams’ like the U.S. dollar, encouraging investors to directly invest in BTC, gold, and silver.
Kiyosaki reassured his followers that he still holds cryptocurrency and commodities directly, keeping them secure outside of traditional banking institutions and Wall Street. He concluded the post by urging caution to his followers.
Regarding Bitcoin’s price action, the cryptocurrency has been hovering around $61,000 for about a week, showing a lack of clear direction. This performance below the established range of $65,000 to $67,000 in 2024 has raised concern among traders.
Uncertainty has been heightened by the potential sale of significant amounts of BTC by the German and U.S. governments and the Mt. Gox exchange. Although these developments may appear coincidental, some community members have viewed them with suspicion.
Despite the recent downward trend, Bitcoin’s long-term performance remains strong, with a 45% increase since January 2, 2024, and a remarkable 101.81% surge over the past 12 months. As of the current press time, Bitcoin is priced at $61,332.
This content should not be taken as investment advice, as investing always carries risks to your capital.
