Why Rich Dad Poor Dad Author Robert Kiyosaki Says He’s Bullish On Bitcoin!
Why Rich Dad Poor Dad Author Robert Kiyosaki Says He’s Bullish On Bitcoin!
Popular US entrepreneur, investor and author of best-selling book ‘Rich Dad Poor Dad’ Robert Kiyosaki has recently voiced his bullishness towards Bitcoin despite the current crypto bear market.
Robert Kiyosaki On Buying More Bitcoin
On his Twitter account, Kiyosaki acknowledges that he is indeed investing and planning on buying more in the future. The author claims that he’s “very excited” about the future of the number one cryptocurrency in the world.
Kiyosaki explains that unlike other cryptocurrencies, Bitcoin is classified as a commodity just like gold, silver, and oil. It’s because of this reason that Kiyosaki is so confident in the future of BTC, he claims. The author also warns that other cryptocurrencies, which are mostly classified as securities, will be “crushed” by the U.S. Securities and Exchange Commission (SEC).
Q: Are you investing in Bitcoin?
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BC— therealkiyosaki (@theRealKiyosaki) December 31, 2022
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Earlier in December of 2022, Kiyosaki also expressed his bullishness for Bitcoin claiming that BTC investors will get richer over time when the “Fed, the Treasury, and Wall Street pivot & print trillions of fake dollars.”
Commodities Vs Securities
Whether most cryptocurrencies are considered to be commodities or securities has been the centre of debates for a long time now, with US regulators torn on determining the nature of many of these digital assets.
Despite the confusion on labeling the many altcoins, SEC Chair Gary Gensler has repeatedly voiced his stance that Bitcoin, the largest cryptocurrency in the industry, is considered to be a commodity, while every other crypto is a security.
The chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has also agreed in confirming with Gensler that they determine Bitcoin to be a commodity.
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