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Renowned author, Robert Kiyosaki, has expressed his disinterest in Bitcoin (CRYPTO: BTC) ETFs, favoring direct ownership of assets over Wall Street’s financial products.
What Happened: On Thursday, Kiyosaki, the author of “Rich Dad Poor Dad,” took to Twitter to answer a question about his interest in the Bitcoin ETF. He stated, “No. Just as I own gold and silver coin and mines and own apartment houses I do not own gold or silver ETFs or REITS, real estate ETFS.”
He further explained his preference for packaging his own financial products, stating that it requires him to be “smarter than most ETF buyers.” He emphasized that his approach is what works best for him, and if he makes a mistake, he has no one to blame but himself.
Why It Matters: Kiyosaki’s stance on Bitcoin ETFs comes amid a bullish outlook on the apex cryptocurrency. In January, he predicted that Bitcoin’s value would rise to $150,000. He also disclosed his purchase of 5 additional Bitcoins, valued at over $230,000 at the time of spot ETF approval.
Bitcoin ETFs like the ProShares Bitcoin Strategy ETF (NYSE:BITO), VanEck Bitcoin Trust (BATS:HODL), and ARK 21Shares Bitcoin ETF (BATS:ARKB) were approved on Jan. 10, 2024.
Despite his bullish stance on Bitcoin, Kiyosaki’s latest tweet suggests a preference for direct ownership of assets, distancing himself from Wall Street’s financial products.
Interestingly Kiyosaki agrees with Ark Invest CEO Cathie Wood’s $2.3 million prediction for Bitcoin, advocating for bold investment approaches. He said, “Kathie Wood is very smart. I trust her opinion.”
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