Robert Kiyosaki, the well-known author of the best-selling book ‘Rich Dad Poor Dad’ recently advised crypto users to buy Bitcoin, again. He alerted users that the Securities and Exchange Commission (SEC) regulations “will crush most of the cryptocurrencies.”
Kiyosaki has repeatedly urged investors to invest in Gold, Silver and Bitcoin for the past few months. Recently, he warned micro and macro investors that it is the last chance to buy Gold and Silver at lower prices.
At the end of 2022, Robert Kiyosaki tweeted that he started investing in one of the largest cryptocurrencies, Bitcoin. He highlighted that “Bitcoin is classified as a commodity much like gold, silver and oil.” As most of the crypto tokens are classified as a security, so he bought more Bitcoin.
In an interview with Mad Money host Jim Cramer on CNBC, Gary Gensler, the SEC chairman, clarified his position on cryptocurrency, mainly Bitcoin. He said, “Crypto financial assets have the key attributes of a security. Some of them are under the SEC.”
He added, “Some like Bitcoin, and that’s the only one I am going to say are commodities.”
Earlier, John Boozman, the United State Senator from Arkansas, commented that Bitcoin is considered a commodity more than cryptocurrency. He said that US federal courts and the Securities and Exchange Commission (SEC) see cryptocurrency as a commodity. John advised the Commodity Futures Trading Commission (CFTC) to regulate the crypto market.
“Bitcoin, although a cryptocurrency, is a commodity. It is a commodity in the eyes of the federal courts and in the opinion of the Securities and Exchange Commission (SEC) chairman. There is no dispute about this.”
In October 2022, he tweeted, “Gold and Silver prices plunge as the Fed continues raising interest rates. Raising interest rates will kill the economy. Stock, bonds, and real estate will crash. The Fed will pivot. Buy Gold, Silver and Bitcoin before FED pivots.”
Previously, Kiyosaki mentioned that he lost trust in the United States Federal Reserve and Treasury agencies and administrations controlling the US dollar; it may result in the expansion of digital currencies that are not under the control of administrations across the nation.
In December, Robert Kiyosaki advised users that “Inflation is moving up. Interest rates are moving up. Stock market to crash sending Gold and Silver higher. May be the last chance to buy these assets at these low prices.”
Some users on social media platforms commented that Kiyosaki was giving the same suggestion a few years back. They disagreed with his predictions, believing the price of the yellow metal would drop to the current level.
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