Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Renowned investor and cryptocurrency expert Raoul Pal has offered a major counterargument to the Financial Times. The mainstream news outlet has taken a jab at cryptocurrency, issuing traditional and rather outdated accusations against it.
Pal argued back at FT, standing firm with Bitcoin and mentioning its ultra-high market performance.
Raoul Pal strikes back at FT crypto criticism
In his tweet, Pal shared a screenshot from an FT article, which urges investors to turn to “boring” assets and cash, “which has resumed yielding a real income after allowing for inflation.”
This article slams crypto, saying that only “madcap gamblers, money launderers, and fraudsters” diversify into it.
Paul responded to that statement, saying that the FT is “doing its typical thing.” He reminded everyone who reads his tweets that “bitcoin is the best performing asset in all history.” Pal rebuked the FT in failing to understand U.S. dollar debasement and failing to understand how cryptocurrency works, likening their criticism to “angry old men who shake their fists at clouds…”
Robert Kiyosaki touts Bitcoin ETF with one major exception
Financial guru and book author Robert Kiyosaki, famous for his classic book on financial management, “Rich Dad Poor Dad,” published a tweet where he spoke well of Bitcoin exchange-traded funds (ETFs), probably for the first time. Until now, he has always criticized them, as opposed to real Bitcoin.
He admitted that ETFs “make investing easier for the average investor.” However, he mentioned ETFs that are based on his favorite assets — Bitcoin, gold, and silver — as positive choices. Yet, he added, “an ETF is like having a picture of a gun for personal defense.”
He believes it is much better to stack real Bitcoin, gold and silver: “Sometimes it’s best to have real gold, silver, Bitcoin, and a gun.”
Vladislav Sopov
U.Today Editorial Team