Celebrity investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ Robert Kiyosaki recently took to X to answer the question of whether he would even invest in a Bitcoin (BTC) exchange-traded fund (ETF).
As it turns out, despite being one of the most vocal BTC bulls, Kiyosaki harbors a negative stance on the ETFs, approved in January 2024, and claims he would never invest in any of them.
According to Kiyosaki, exchange-traded funds are ‘fake’ – a criticism he has also frequently levied against fiat currencies. He also explained that the situation is the same whether BTC ETFs are in question or ones tied to commodities such as gold and silver.
In a brief explanation provided in the tweet, the crux of his issue with the investment vehicles is that ‘a gold ETF can sell 1 ounce of gold 100 times and more via 1 ETF.’
Is Kiyosaki abandoning BTC, gold, and silver?
To avoid any additional confusion, Kiyosaki once again reaffirmed that – despite being opposed to exchange-traded funds – he is still very positive toward his generally favored assets: Bitcoin, gold, and silver.
Indeed, throughout his tenure on the internet, the author has been issuing repeated calls to investors to abandon what he calls ‘scams’ – things like the U.S. dollar (USD) – and directly invest in BTC, gold, and silver.
In the June 27 tweet, Kiyosaki also explained that he still directly owns the cryptocurrency and the commodities and is keeping them ‘very safe, away from banks and Wall Street bankers.’
The author and investor concluded the post by urging his followers to ‘take care.’
Bitcoin price analysis
Elsewhere, Bitcoin itself has been tethering as its recent price action gives little directional certainty. Indeed, while the coin managed to evade decisively falling below $60,000, it has been trading close to $61,000 for approximately a week.
Such performance has proven worrisome for traders, given it is substantially below BTC’s more established 2024 range between about $65,000 and $67,000.
Concerns have been further fueled by an unlikely convergence of events that would see both the German and U.S. governments and the fallen cryptocurrency exchange Mt. Gox, ready to offload significant quantities of BTC onto the crypto markets. Though the convergence appears accidental, some members of the community have interpreted it in a slightly conspiratorial tone.
Whatever the case may be – and whatever the impact of the uncommon whale movements – the world’s premier cryptocurrency has been falling for much of June and is 9.73% in the red in the last 30 days. Bitcoin price today, at press time, stands at $61,332.
BTC 30-day price chart. Source: Finbold
Finally, it is worth pointing out that BTC’s current downtrend remains dwarfed by the coin’s longer-term performance, which has seen it climb approximately 45% since January 2, 2024, and an even more impressive 101.81% in the last 12 months.
Featured image via Ben Shapiro’s YouTube.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
The post Robert Kiyosaki reveals why he won’t invest in Bitcoin ETFs appeared first on Finbold.