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# Kiyosaki, the “Rich Dad Poor Dad” Writer, Rejects Bitcoin ETFs as “Phony”
Robert Kiyosaki, the “Rich Dad Poor Dad” writer, suggests avoiding investing in Bitcoin ETFs, and this is the reason:
Kiyosaki has been a long-time detractor of what he considers misleading investment offerings, fiat money, and Wall Street. He’s now clarifying that, in his opinion, Bitcoin ETFs are equally fraudulent.
His position arises amidst what he thinks is a long-anticipated economic downturn. Kiyosaki asserts that the stock market collapse he cautioned about in “Rich Dad’s Prophecy” is occurring, impacting the Baby Boomer demographic the most.
Unlike earlier generations with assured retirement income, today’s pensioners depend on schemes that might not completely disburse after a crash. Kiyosaki views this as a substantial danger that many individuals aren’t conscious of.
He contends that the issue commences with a deficiency of monetary knowledge. Educational institutions don’t educate individuals on how finances operate, rendering them susceptible to Wall Street, political sway, and financial instruments crafted more for organizations than persons.
The consequence? Uneducated traders believe in a framework of conventional financial instruments that frequently functions counter to them.
## Thus, what’s the substitute?
Kiyosaki advises possessing tangible assets like physical gold, silver, and Kiyosaki: Global Economy Declining, Predicts Bitcoin at 0,000 – items you genuinely possess, not merely theoretically. This clarifies his doubt about ETFs.
In his perspective, ETFs, whether supported by gold, silver, or Bitcoin, are not authentic. He regards them as indistinguishable from fiat money or government debt, simply another stratum between the trader and genuine ownership.
Simultaneously, according to CoinGecko, Bitcoin’s value has decreased by 1.2% in the prior week, whereas the wider crypto marketplace is down 11.5%.
Notwithstanding all this, Kiyosaki is still sure that during periods of financial uncertainty, tangible possessions – rather than mere digits displayed – constitute the foundation for defending affluence.
