'Rich Dad Poor Dad' Author: I Will Never Buy Bitcoin ETFs

Fri, 04/12/2024 - 06:33
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Robert Kiyosaki, an expert at investing and the author of the classic book on finance management “Rich Dad Poor Dad,” who supports Bitcoin, has taken to the X social media platform (formerly known as Twitter) to tell his audience what he thinks about the much-hyped Bitcoin ETFs.

Kiyosaki revealed the key reason why he would not buy any. As the investor wrote multiple times previously, aside from Bitcoin, he also prefers physical gold and silver as safe haven assets, and he likes real estate too – that is what he started with in the 1990s, when his aforementioned book was first published.

No to Bitcoin ETFs, here's why

Robert Kiyosaki tweeted that he does not plan to buy any Bitcoin exchange-traded funds. The expert said that he prefers to invest in real assets and not Wall Street financial products based on them. He reminded his 2.1 million followers that he owns gold and silver mines and coins but not ETFs based on these precious metals.

He is also invested in real estate directly, being an owner of apartment buildings, but he does not invest in real estate ETFs. He added that these funds are “best for most people and institutions.”

However, Kiyosaki explained, that since he is an entrepreneur, he prefers to keep away from Wall Street financial products and package his own instead. Here, the “Rich Dad Poor Dad” author says, it is important to answer the question, “What is best for you?”

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Bitcoin will reach $2.3 million, Kiyosaki believes

In a tweet published earlier this week, Kiyosaki sang the praises of Cathie Wood, the renowned investor and CEO of Ark Invest (and one of the Bitcoin ETF issuers too). In particular, Kiyosaki mentioned her recent forecast, where she predicts the world’s leading cryptocurrency, Bitcoin, to soar as high as $2.3 million in the future.

She could be wrong, he said in the tweet, but Kiyosaki still wrote that he also believes BTC can reach that all-time high eventually. Still, he wrote that most people will hardly own any Bitcoin, since they prefer to play it safe. Kiyosaki is a believer that mistakes teach investors better than any school and that successful people will always learn from their mistakes, not being afraid to make them.