According to U.Today, Robert Kiyosaki, the acclaimed author of 'Rich Dad Poor Dad', has voiced his doubts about Bitcoin Exchange-Traded Funds (ETFs). He stated that he would not invest in them, comparing his stance to his views on similar instruments for gold and silver. Kiyosaki argued that these financial instruments do not accurately represent the actual assets they claim to track.
His concerns primarily revolve around the authenticity of ETFs. He pointed out that a gold ETF, for instance, can sell the same ounce of gold multiple times, making it an inadequate substitute for owning physical gold. This is why he prefers to hold actual gold, silver, and Bitcoin, which he keeps secure and away from traditional financial institutions and Wall Street.
Kiyosaki's position aligns with his long-standing criticism of traditional financial market instruments and the Federal Reserve's monetary policies. He has been outspoken about his belief that the dollar is a 'fake' currency and has encouraged people to invest in what he considers real money: Bitcoin, 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. His sentiment about ETFs is shared by many Bitcoin maximalists and the most passionate proponents of decentralization, who also reject such innovations.