Robert Kiyosaki explains his decision not to invest in Bitcoin ETFs
Renowned investor and author Robert Kiyosaki, famous for his book ‘Rich Dad Poor Dad,’ recently shared his thoughts on investing in a Bitcoin exchange-traded fund (ETF) on social media platform X. Surprisingly, Kiyosaki, known for being a strong supporter of Bitcoin, expressed a negative stance on ETFs in general and stated that he would never invest in any of them.
Kiyosaki believes that ETFs are “fake,” a criticism he has previously made against fiat currencies. He explained that this applies to Bitcoin ETFs as well as those tied to commodities like gold and silver. In a tweet, he highlighted his concern about ETFs by stating that a gold ETF can sell the same ounce of gold 100 times or more through one ETF.
To avoid any confusion, Kiyosaki clarified that despite his opposition to ETFs, he still holds a positive outlook on Bitcoin, gold, and silver, which are his preferred assets. He has repeatedly advised investors to steer clear of what he considers “scams” like the US dollar and instead directly invest in Bitcoin, gold, and silver. Kiyosaki assured his followers that he personally owns these assets and keeps them safe outside the traditional banking and Wall Street systems.
Kiyosaki concluded his tweet by urging his followers to take care. Meanwhile, Bitcoin’s price has been relatively stable, trading around $61,000 for about a week. This has raised concerns among traders as it falls below the established range of $65,000 to $67,000 seen earlier in 2024. Additionally, the possibility of significant BTC sell-offs by the German and US governments and the Mt. Gox cryptocurrency exchange has added to the worries. However, the impact of these events remains uncertain.
Despite the recent downturn, Bitcoin’s long-term performance has been impressive, with a 45% increase since January 2024 and a remarkable 101.81% surge in the last 12 months. At the time of writing, the price of Bitcoin stands at $61,332.
Disclaimer: The information provided in this article should not be considered as investment advice. Investing in cryptocurrencies carries risks, and your capital is at risk.
