Robert Kiyosaki called Bitcoin ETF a fake
Date: 2024-07-01 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Against Exchange Traded Funds
Robert Kiyosaki, a famous entrepreneur and author of Rich Dad Poor Dad, has expressed his outrage at Bitcoin-based exchange-traded funds, calling them "fake." He refuses to invest in such products, citing similar concerns about precious metals ETFs, which he says can be traded multiple times without a real asset to back them up.
Investments directly
Kiyosaki emphasizes the importance of investing in Bitcoin and precious metals directly, rather than using intermediate financial instruments such as exchange-traded funds.
This opinion is not new. Trezor's Josef Tetek and BitMEX's Arthur Hayes previously expressed similar concerns. They argue that Bitcoin ETFs could destroy the unique principles and ecosystem laid down by Bitcoin founder Satoshi Nakamoto and lead to stagnation of the cryptocurrency.
Kiyosaki continues to actively support his point of view, insisting on the importance of direct investment in digital assets and precious metals, and this opinion is supported in the cryptocurrency community.
