Robert Kiyosaki explains his rationale for abstaining from Bitcoin ETF investments
Robert Kiyosaki, the renowned celebrity investor and author of the popular personal finance book ‘Rich Dad Poor Dad,’ recently took to social media platform X to address the question of whether he would invest in a Bitcoin exchange-traded fund (ETF). Surprisingly, despite being a vocal supporter of Bitcoin, Kiyosaki expressed a negative view on ETFs, including those related to Bitcoin, gold, and silver, which were approved in January 2024. He stated that he would never invest in any of them, referring to ETFs as “fake” and criticizing them in the same way he criticizes fiat currencies.
Kiyosaki’s main issue with ETFs is that they can sell the same asset multiple times through a single ETF. For example, a gold ETF can sell one ounce of gold 100 times or more through one ETF. In a tweet, he responded to the question of whether he would buy Bitcoin ETFs with a simple “No,” and explained that his reason for not investing in ETFs applies to gold and silver ETFs as well.
To avoid any confusion, Kiyosaki clarified that despite his opposition to ETFs, he still holds a positive view of Bitcoin, gold, and silver. Throughout his online presence, he has consistently encouraged investors to abandon what he considers to be scams, such as the US dollar, and to directly invest in Bitcoin, gold, and silver. In the same tweet, he emphasized that he keeps these assets safe and away from banks and Wall Street bankers.
Kiyosaki concluded the tweet by urging his followers to take care. It is clear that he remains committed to his favored assets, Bitcoin, gold, and silver, despite his skepticism towards ETFs.
Meanwhile, Bitcoin’s price has been relatively stagnant, trading around $61,000 for about a week. This performance has raised concerns among traders, as it is significantly below the established range of $65,000 to $67,000. Furthermore, the possibility of significant quantities of BTC being offloaded onto the crypto markets by the German and US governments, as well as the fallen cryptocurrency exchange Mt. Gox, has added to the concerns. While this convergence appears accidental, some members of the community have interpreted it with a hint of conspiracy.
Regardless of the current market situation, Bitcoin’s long-term performance remains impressive. Since January 2, 2024, the price of Bitcoin has climbed approximately 45%, and in the last 12 months, it has surged by an even more impressive 101.81%.
In conclusion, Robert Kiyosaki’s negative stance on ETFs does not deter his enthusiasm for Bitcoin, gold, and silver. He continues to advocate for direct investment in these assets and advises his followers to be cautious. The current state of the Bitcoin market is causing concern among traders, but its long-term performance remains strong.