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‘Rich Dad’ R. Kiyosaki reveals why he will not buy into Bitcoin ETF

'Rich Dad' R. Kiyosaki reveals why he will not buy into Bitcoin ETF

Although many members of the cryptocurrency community had been looking forward to the United States Securities and Exchange Commission (SEC) finally approving spot Bitcoin (BTC) exchange-traded funds (ETFs) as the sign of the crypto assets’ wider acceptance, not everyone is on board.

As it happens, renowned investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, stated he would not be buying Bitcoin through a spot ETF for the same reason he did not own any “gold or silver ETFs or REITs,” according to his X post on April 12.

Furthermore, he voiced his opinion that “ETFs are best for most people and institutions” but, as an entrepreneur, he preferred to “stay as far away from Wall Street’s financial products as possible” because he wanted to keep the responsibility for his potential mistakes in his own hands:

“Packaging my own financial products is best for me because packaging my own securities requires me to be smarter than most ETF buyers. It is what is best for me. If I F’ up, I have no one to blame but me. The more important question is ‘what is best for you.’”

BTC ETFs in eyes of others

Meanwhile, American economist Peter Schiff has dismissed spot Bitcoin ETFs as one of the reasons why Bitcoin was likely to crash as more of the maiden crypto asset is entering them, also expressing his view that they are a “godsend for foreign central banks,” as they “have siphoned investor demand away from gold.”

On top of that, Schiff believes that the recent Bitcoin rally, that has followed gold rising to new all-time highs (ATHs) was nothing more but a ploy to “sucker ETF investors into buying the gap up,” advising his followers to “get ready for the dump” by replacing all their Bitcoin with precious metals.

That said, at press time, the price of Bitcoin stood at $70,643, recording a slight increase of 0.06% on the day, and gaining 5.26% across the previous week while accumulating a loss of 3.81% over the past month, according to the most recent charts on April 12.

Ultimately, whether investing in Bitcoin through a spot BTC ETF is a good choice or not depends on the individual or organization interested in it, and while entrepreneurs like Robert Kiyosaki prefer a more direct exposure without any intermediaries, others might find safety in the indirect approach.

Regardless of where one stands in this debate, it is critical to do detailed research and in-depth risk analysis before devoting a significant part of one’s portfolio to any asset, be it a cryptocurrency, an exchange-traded fund, or anything else.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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