Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has recommended investing in bitcoin exchange-traded funds (ETFs) as he expresses concern about the global economy and the potential for the U.S. Treasury and Federal Reserve to print trillions of “fake dollars.”
Kiyosaki, known for his financial advice, suggested that investors who prefer an indirect approach to bitcoin investment consider bitcoin ETFs. In addition to his book “Rich Dad Poor Dad,” Kiyosaki is known for his investment insights and has a substantial following.
In a social media post, Kiyosaki highlighted the Cardboard Box Index, an indicator used by some investors to assess consumer goods production, which he claimed is plummeting. He suggested that declining consumer activity could indicate a global economic downturn that may lead to a depression. Kiyosaki anticipates that the Treasury and Federal Reserve will respond to such a situation by printing trillions of “fake dollars.”
In response to these concerns, Kiyosaki recommended his usual investment choices: gold, silver, and bitcoin. He emphasized the rising price of gold and the relatively low cost of silver. Additionally, he suggested considering bitcoin ETFs as an alternative investment option. Kiyosaki urged investors to take immediate action and proactively avoid unexpected financial challenges.
Kiyosaki has previously warned about the possibility of a depression and has made predictions value of gold, silver, and bitcoin. He believes gold and silver are “God’s money,” while bitcoin is “people’s money.” His predictions are based on his expectation of losing faith in the U.S. dollar, which he calls “fake money.”
While Kiyosaki recommended bitcoin ETFs, he did not specify the type of ETFs he was referring to. There are futures-based bitcoin ETFs in the United States, but the U.S. Securities and Exchange Commission (SEC) approval of a spot bitcoin ETF is still pending. SEC Chairman Gary Gensler recently stated that the regulator is considering several spot bitcoin ETF applications. The launch of spot bitcoin ETFs is expected to attract significant capital into the cryptocurrency industry.