The well-known writer of the best-selling e-book Wealthy Dad Poor Dad, Robert Kiyosaki, has revealed why he’s shopping for extra bitcoin. He warned that the Securities and Alternate Fee (SEC) rules will “crush” most different cryptocurrencies.
Robert Kiyosaki Buys Extra Bitcoin, Warns About SEC Laws Crushing Crypto Tokens
The writer of Wealthy Dad Poor Dad, Robert Kiyosaki, has revealed the important thing cause why he’s investing in bitcoin. The well-known writer warned that the Securities and Alternate Fee (SEC) will “crush” most different crypto tokens with its rules.
Wealthy Dad Poor Dad is a 1997 e-book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Instances Greatest Vendor Checklist for over six years. Greater than 32 million copies of the e-book have been offered in over 51 languages throughout greater than 109 international locations.
Kiyosaki tweeted Friday that he’s investing in bitcoin. He defined that he’s “very excited” about BTC as a result of the cryptocurrency “is classed as a commodity very like gold, silver, and oil.” The Wealthy Dad Poor Dad writer added that the U.S. Securities and Alternate Fee (SEC) has labeled bitcoin as a commodity whereas most different crypto tokens are securities, cautioning that “SEC rules will crush most of them.” He ended his tweet by stating that he’s shopping for extra bitcoin.
SEC Chairman Gary Gensler has mentioned repeatedly that bitcoin is a commodity whereas most different crypto tokens are securities. The chairman of the Commodity Futures Buying and selling Fee (CFTC), Rostin Behnam, has additionally confirmed that bitcoin is a commodity.
The securities regulator mentioned in November that its Enforcement Division stays targeted on crypto. The SEC has been closely criticized for taking an enforcement-centric method to regulating the crypto sector. Gensler mentioned in Might following the terra/luna collapse that plenty of crypto tokens will fail.
The Wealthy Dad Poor Dad writer has been recommending traders purchase gold, silver, and bitcoin for fairly a while. Kiyosaki beforehand mentioned he’s a bitcoin investor, not a dealer, so he will get excited when BTC hits a brand new backside.
Earlier this month, he predicted that bitcoin traders will get richer when the Federal Reserve pivots and prints trillions of “faux” {dollars}. Following the collapse of crypto change FTX, Kiyosaki mentioned he’s nonetheless bullish on bitcoin, emphasizing that crypto can’t be blamed for the FTX meltdown. In September, the famend writer urged traders to get into crypto now, earlier than the largest market crash strikes.
Kiyosaki additionally made different dire predictions, together with the U.S. greenback crashing, the Fed destroying the U.S. financial system with its fee hikes, hyperinflation, a Larger Despair, and World Warfare III.
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