'Rich Dad Poor Dad' Author Robert Kiyosaki Questions Bitcoin ETFs' Authenticity: 'ETFs Are Fake Gold, Silver, Or Bitcoin'

Bibhu Pattnaik

June 29, 2024

Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” has voiced his concerns about Bitcoin ETFs, questioning their authenticity.

What Happened: Kiyosaki expressed his doubts about Bitcoin ETFs, stating his reluctance to invest in them. He compared them to gold and silver ETFs, arguing that these financial tools do not accurately reflect the assets they are supposed to represent.

Kiyosaki’s skepticism centers around the authenticity of ETFs. In a post on X on Thursday, he highlighted that a gold ETF could potentially sell the same ounce of gold multiple times, making it an inadequate substitute for owning physical gold.

This is why he prefers to hold actual gold, silver, and Bitcoin, which he keeps secure and away from traditional financial institutions and Wall Street.

His views are in line with his long-standing criticism of traditional financial market instruments and the Federal Reserve’s monetary policies.

Also Read: ‘Rich Dad Poor Dad’ Author Says ‘God Have Mercy On Us All’ — Economy Is Biggest Bubble In World History

Q: Would I buy Bitcoin ETFs?
A: No

Q: Why not?
A: For the same reason I do not buy
Gold or Silver ETFs.

Q: What is wrong with ETFs?
A: ETFs are FAKE gold, silver, or Bitcoin.

A: For example a gold ETF can sell 1 ounce of gold 100 times and more via 1 ETF.

That isâ€¦
— Robert Kiyosaki (@theRealKiyosaki) June 27, 2024

Kiyosaki has consistently 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 the people, unlike ETFs and other financial products traded on the market.

Why It Matters: Earlier Kiyosaki had disclosed his purchase of 5 additional Bitcoin amid the Securities and Exchange Commission's approval of Bitcoin ETFs.

However, his recent comments reveal a shift in his stance. Kiyosaki’s disinterest in Bitcoin ETFs aligns with his preference for direct ownership of assets over Wall Street's financial products.

This development is significant as it highlights the ongoing debate about the authenticity and value of ETFs in the cryptocurrency market.

Now Read: As US Debt Crisis Deepens, ‘Rich Dad Poor Dad’ Author Robert Kiyosaki Warns Of Looming Economic Peril: ‘America Is In Serious Trouble Financially’

Image created using photos on Flickr and Shutterstock

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