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“Rich Dad Poor Dad” Author Kiyosaki Issues Important Warning on U.Today’s Bitcoin ETFs
U.Today – Robert Kiyosaki, the famous author of “Rich Dad, Poor Dad,” expressed his skepticism about ETFs. He stated that he would not purchase them, drawing parallels with his opinions on the same tools for gold and silver.
Kiyosaki argued that these financial instruments are not representative of the actual activities they claim to monitor.
Concerns center on the authenticity of ETFs. He noted that a gold ETF, for example, can sell the same ounce of gold multiple times, making it a poor substitute for owning physical gold. That, he said, is why he prefers to hold real gold, silver and Bitcoin, which he keeps safe, away from traditional financial institutions and Wall Street.
Kiyosaki’s position is consistent with his long-standing criticism of traditional financial market instruments and the Federal Reserve’s monetary policies. He has openly expressed his belief that the dollar is a “fake” currency and has urged people to invest in what he considers real money: BTC, gold and silver.
According to Kiyosaki, these assets are tangible and belong to people, unlike ETFs and other financial products traded on the market. He’s not the only one who feels this way about ETFs, when many Bitcoin maximalists and staunch supporters of decentralization also reject any such innovation.