Robert Kiyosaki Warns Against Bitcoin Spot ETFs, Advocates for Owning Real Bitcoin
Robert Kiyosaki once again opposed those who support buying Bitcoin through Bitcoin spot ETF products.
Robert Kiyosaki, a globally renowned financial expert, is best known for his book “Rich Dad Poor Dad.” He is a strong advocate for Bitcoin, gold, and silver. Kiyosaki advises people to buy these assets directly, as he believes they are effective in combating inflation.
Recently top financial expert Robert Kiyosaki shared some self created question & answers to oppose idea of buying Bitcoin via Bitcoin spot ETF products.
Indirectly he expressed a clear stance against buying Bitcoin ETFs, likening them to gold and silver ETFs, which he also avoid.
He argued that ETFs are not genuine representations of the assets they claim to track. For instance, he mentioned that a gold ETF can sell the same ounce of gold multiple times through a single ETF, thus making ETFs “fake” representations of the actual asset.
The “Rich Dad Poor Dad” author emphasized his preference for owning real gold, silver, and Bitcoin, and stressed the importance of keeping these assets safe and away from banks and Wall Street bankers.
Kiyosaki’s stance on buying Bitcoin directly aligns with a fundamental principle of Bitcoin: “not your key, not your coins.”
While Bitcoin spot ETF products have facilitated significant capital inflow into the Bitcoin market, many Bitcoin maximalists oppose purchasing Bitcoin through ETFs, as it contradicts Bitcoin’s fundamental principles.
Bitcoin price action
Bitcoin is currently trading at $61,529, reflecting a 0.9% increase. Over the past 30 days, Bitcoin’s price has remained in a bearish zone, lacking any significant bullish factors.
Big traders are currently eyeing the US presidential election in November 2024. Many believe that August and September will see a significant influx of money into the crypto market as voters support pro-crypto presidential candidates.
