Renowned author Robert Kiyosaki has revealed he had bought more Bitcoin and why he chose to do this arguing that the Securities and Exchange Commission (SEC) regulations will “crush” most other currencies.
Author of Rich Dad Poor Dad, Robert Kiyosaki, has said that the main reason for his investment in Bitcoin stems from a belief that the SEC will “crush” most other tokens with its regulations. In a Tweet on December 30, Kiyosaki revealed that he is investing in Bitcoin and explained he is “very excited” about the currency “is classified as a commodity much like gold, silver, and oil.” Kiyosaki said he is buying more Bitcoin, and the SEC classified bitcoin as a commodity while most other cryptocurrencies have been deemed to be securities. Kiyosaki has also cautioned that “SEC regulations will crush most of them.”
Q: Are you investing in Bitcoin?
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BC
— therealkiyosaki (@theRealKiyosaki) December 31, 2022
The Rich Dad Poor Dad author has for a long time advised investors to buy gold, silver, and Bitcoin and previously stated that he is now a Bitcoin investor rather than a trader according to a blog post by Binance. Earlier in December, Kiyosaki made the bold claim that when the Federal Reserve pivots and creates trillions of “false” dollars, this token investor will benefit. After the fall of the now-bankrupt crypto exchange FTX, Kiyosaki stated that he is still bullish on Bitcoin and underscored that investors need to remember that cryptocurrencies as such cannot be claimed for the crash of FTX. Kiyosaki also in September urged investors to invest in crypto now, before the next market crash.
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