[2024-04-13] Robert Kiyosaki Explains Why He Won't Buy Bitcoin ETF

[chmod755]

Robert Kiyosaki Explains Why He Won't Buy Bitcoin ETF

Rich Dad Poor Dad author Robert Kiyosaki has explained why he won’t invest in a spot bitcoin exchange-traded fund (ETF). “Just as I own gold and silver coins and mines and own apartment houses, I do not own gold or silver ETFs,” he stressed. The famous author stated this week that he believes the price of bitcoin will reach $2.3 million.

Robert Kiyosaki Won’t Buy Spot Bitcoin ETFs

While demand for spot bitcoin exchange-traded funds (ETFs) is soaring in the U.S., the author of Rich Dad Poor Dad, Robert Kiyosaki, has explained why he will not invest in spot ETFs. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

He wrote on social media platform X on Friday: “Q: Will you buy the bitcoin ETF?” He then answered his own question:

No. Just as I own gold and silver coins and mines and own apartment houses, I do not own gold or silver ETFs or REITs, real estate ETFs.

“ETFs are best for most people and institutions. Personally, I am an entrepreneur and prefer to stay as far away from Wall Street’s financial products as possible,” he added. “Packaging my own financial products is best for me because packaging my own securities requires me to be smarter than most ETF buyers. It is what is best for me. If I F’ up, I have no one to blame but me. The more important question is ‘What is best for you.’”

Despite his current stance against spot bitcoin ETFs, Kiyosaki previously advocated for them as an alternative for investors hesitant to buy actual bitcoin. Recently, Shark Tank star Kevin O’Leary, aka Mr. Wonderful, also reiterated his view that he will not buy a spot bitcoin ETF. “I would never do that. Why would I pay the fees? There’s no added value to an ETF. I just own the coin directly,” he emphasized.

Kiyosaki calls himself a bitcoin bull. He revealed this week that he believes the price of bitcoin will reach $2.3 million, citing a prediction by Ark Invest CEO Cathie Wood. Last week, he responded to a prediction by economist Harry Dent stating that the price of bitcoin could crash to $200. “If bitcoin drops to $200 per coin I will buy as many coins as I can,” he affirmed.

The renowned author has also intensified his advice for investors to ditch the U.S. dollar to buy bitcoin alongside gold and silver. He views BTC as the perfect asset at the right time while calling the USD a “giant Ponzi scheme.” Earlier, Kiyosaki predicted that the price of bitcoin would hit $100K by September, emphasizing the importance of the halving. He also stated that BTC is headed for $300K this year.

Source: https://news.bitcoin.com/robert-kiyosaki-explains-why-he-wont-buy-bitcoin-etf/

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[Oshosondy]

What he is saying is that he can buy and hold bitcoin but he can not hold bitcoin ETF because it is not the real bitcoin. I think that is why he said he has gold and silver but he does not have gold and silver ETF. He used that to let people know that ETFs are different from the real asset.

I also can not hold bitcoin ETF. It can be good for those that do not want to make use of crypto exchanges or buy bitcoin directly from people like miners. But it is not the real bitcoin.

[Porfirii]

Interesting predictions

The title is a bit unfortunate, because those who don't know about the topic, if they don't read the article, could think that the fact Kiyosaki is against something that has to with Bitcoin means that he is against the coin itself, and it's exactly the opposite.

Let's see if he's right. $2.3 million is not a bad target

About the ETFs, I understand that they are convenient for other funds, companies... but I agree with Kiyosaki that (responsible) individuals would better hold real cryptocurrencies and precious metals rather than mere rights on these assets.

[Kakmakr]

Well, he is just saying what most of us long-term hoarders are doing. We do not trust third party companies to manage our "Private keys" ... because we know these Wall Street guys have zero accountability for their actions. ( Protected by governments )

Robert are anti-establishment and anti-government in most of his statements, so this is just another peaceful protest against these corrupt entities. (Banks & large financial institutions get bailouts from tax payers money, when they fail)

[cr1776]

He isn't wrong.  For many of the benefits of bitcoin, actual transactions, pseudonymous transactions, censorship resistance, protection from governmental "haircuts" (as in Cyprus 2013), capital controls (e.g. in Venezuela and many others) etc an ETF doesn't help at all.  To realize the gain in fiat price as people realize the uses then it isn't too bad, but you run the risk of them not caring for the keys.