Author Robert Kiyosaki explained his refusal to invest in a spot bitcoin exchange-traded fund (ETF).
He emphasized, “I do not own gold or silver ETFs, just as I own gold and silver coins, mines, and apartment houses.” This week, the well-known author declared his prediction that the price of Bitcoin will hit $2.3 million.
Spot Bitcoin ETFs Will Not Be Purchased by Robert Kiyosaki
Although there is a growing demand in the United States for spot bitcoin exchange-traded funds (ETFs), Robert Kiyosaki, the author of Rich Dad Poor Dad, has stated why he will not invest in spot ETFs.
Kiyosaki and Sharon Lechter coauthored the book Rich Dad Poor Dad in 1997. For more than six years, it has been included in the New York Times Best Seller List. The book has been sold in more than 109 countries and in more than 51 languages for over 32 million copies.
On Friday, he posted the following on the social media site X: “Q: Will you buy the bitcoin ETF?” Then he responded to his own query:
No. I do not own gold or silver ETFs, REITs, or real estate exchange-traded funds (ETFs), even though I do own gold and silver coins, mines, and apartment buildings.
The majority of people and institutions benefit most from ETFs. As an entrepreneur, I personally like to avoid Wall Street’s financial goods as much as possible,” he continued. “For me, the ideal way to package financial assets is to package my own securities, which demands a higher level of intelligence than that of most ETF purchasers. For me, that is what’s great. I am the only one responsible for my mistakes. The question that matters the most is “What is best for you?”
Though he now opposes spot bitcoin ETFs, Kiyosaki had supported them as a substitute for investors who were reluctant to purchase real bitcoin.
Kevin O’Leary from Shark Tank, has reaffirmed his belief that he will not purchase a spot bitcoin ETF. “Never would I do it. Why should I cover the costs? An ETF offers no additional value. I simply own the coin outright,” he stressed.
According to Kiyosaki, he is a Bitcoin bull. This week, he disclosed his belief that the price of Bitcoin will eventually reach $2.3 million, based on a forecast made by Cathie Wood, CEO of Ark Invest. He answered an economist named Harry Dent’s prediction last week that the price of Bitcoin may plummet to $200. “I’ll purchase as many coins as I can if the price of Bitcoin drops to $200,” he declared.
The well-known author has also stepped up his counsel to investors to purchase bitcoin in addition to gold and silver and to forgo the US dollar. He refers to the USD as a “giant Ponzi scheme” and believes that BTC is the ideal asset at the correct time.
Prior to this, Kiyosaki highlighted the significance of the halving by predicting that the price of Bitcoin would reach $100,000 by September. Additionally, he said that this year, Bitcoin will reach $300,000.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
