U.Today - Robert Kiyosaki, the renowned author of "Rich Dad Poor Dad," has expressed his skepticism regarding Bitcoin ETFs. He stated that he would not purchase them, drawing parallels to his views on the same instruments for gold and silver.
Kiyosaki argued that these financial instruments are not representative of the actual assets they claim to track.
The concerns center on the authenticity of ETFs. He highlighted that a gold ETF, for instance, can sell the same ounce of gold multiple times, making it a poor substitute for owning physical gold. This, he explained, is why he prefers to hold real gold, silver and Bitcoin, which he keeps secure, away from traditional financial institutions and Wall Street.
Kiyosaki's stance is consistent with his long-standing criticism of traditional financial market instruments and the Federal Reserve's monetary policies. He has been vocal about 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. He is not alone in his sentiment about ETFs, when many Bitcoin maximalists and the most ardent proponents of decentralization also reject any such innovation.