Rich Dad Poor Dad Author Robert Kiyosaki is Buying More Bitcoin at Current Prices – Here’s Why

Robert Kiyosaki, writer of the best-selling private finance e book Rich Dad Poor Dad, has revealed that he is buying extra BTC at present charges. 

In a Saturday tweet, Kiyosaki claimed that the Securities and Exchange Commission (SEC) will “crush” most altcoins with its rules, suggesting that this is why he is solely bullish on BTC at the second. He stated:

“I’m very enthusiastic about Bitcoin. Why? Because Bitcoin is labeled as a commodity very similar to gold, silver, and oil. Most crypto tokens are classifed as a safety and SEC rules will crush most of them. I’m shopping for extra BTC.”

In an interview with CNBC in early October, SEC Chair Gary Gensler reiterated his perception that Bitcoin is a commodity whereas most different crypto tokens are securities. “The legislation is clear on this. I imagine primarily based on the info and circumstances, most of those tokens are securities,” he stated at the time. 

In mid-December, the SEC additionally classified FTT, the native token of the now-collapsed cryptocurrency alternate FTX, as a safety in a criticism. The transfer stirred up speculations about whether or not different tokens of centralized exchanges are thought-about securities, and what it may imply for these platforms. 

The company famous that FTT was offered as an funding contract and benefitted from an increase in demand for buying and selling on FTX, “such that any value enhance in FTT would profit holders of FTT equally and in direct proportion to their FTT holdings.” It stated:

“The giant allocation of tokens to FTX incentivized the FTX administration workforce to take steps to draw extra customers onto the buying and selling platform and, due to this fact, enhance demand for, and enhance the buying and selling value of, the FTT token.”

Kiyosaki, who has been a Bitcoin advocate for a very long time, stated final month that those that personal gold, silver, and BTC will get richer when the Federal Reserve, the Treasury, and Wall Street pivot and trillions of {dollars} are printed. “Fake cash savers would be the largest losers,” he stated.

In the wake of the FTX collapse, he stated that Bitcoin may go as low as $10,000 because the mud from the fallout settles. He added that the selloff may see Bitcoin drop to $10,000-$12,000, however he’ll use the chance to replenish extra cash. 

Kiyosaki’s Rich Dad Poor Dad is a 1997 e book that advocates the significance of economic literacy, monetary independence, and constructing wealth by investing in property, actual property investing, beginning and proudly owning companies, in addition to growing one’s monetary intelligence. It has been on the New York Times Best Seller List for over six years.