Famous author of best-selling book Rich Dad Poor guy Dad Robert Kiyosaki reveals why he buys more Bitcoin. He warned that Securities and Exchange Commission (SEC) regulations would “crush” most other cryptocurrencies.
“Rich Dad, Poor Dad” author Robert Kiyosaki has revealed the main reasons why he is investing in Bitcoin. , warned that the Securities and Exchange Commission (SEC) would “crush” most other crypto tokens with its regulations. It’s a book. He has been on the New York Times bestseller list for over six years. The book has sold over 32 million copies in over 109 countries and in over 51 languages.
Kiyosaki tweeted on Friday that he was investing in Bitcoin. He explained that he is “very excited” aboutBTC. This is because cryptocurrencies are “classified as commodities in the same way as gold, silver and oil.” The authors of Rich Dad, Poor Dad add that the U.S. Securities and Exchange Commission (SEC) classifies Bitcoin as a commodity and that most other crypto tokens are securities, adding, “SEC regulations make most of them It will be crushed,” he warns. He ended his tweet by stating that he is buying more Bitcoin.
SEC Chairman Gary Gensler has repeatedly stated that Bitcoin is a commodity and most other crypto tokens are securities. I’m here. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnham also confirmed that Bitcoin is a commodity.
The securities regulator said in November that its enforcement arm remains focused on cryptocurrencies. The SEC has been heavily criticized for taking a law enforcement-centric approach to regulating the cryptocurrency sector. Gensler said in May that many crypto tokens will fail following the terra/luna collapse.
The authors of Rich Dad, Poor Dad have been encouraging investors to buy gold, silver and bitcoin for quite some time. Kiyosaki has previously said he’s a bitcoin investor, not a trader, so he’ll be thrilled whenBTC hits a new bottom. Bitcoin investors will get richer, he predicted, once the Federal Reserve turns and prints trillions of “fake” dollars. , Kiyosaki said he remains bullish on Bitcoin, stressing that cryptocurrencies cannot be blamed for the collapse of FTX. In September, a prominent author urged investors to get into cryptocurrencies now before the biggest market crash occurs.
Kiyosaki also made other dire predictions, such as a crash of the US dollar, destruction of the US economy by Fed rate hikes, hyperinflation, the Great Depression, and World War III.
Image Credits: Shutterstock, Pixabay, Wiki Commons
