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 Change Fee (SEC) laws 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 Change Fee (SEC) will “crush” most different crypto tokens with its laws.
Wealthy Dad Poor Dad is a 1997 e book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Occasions Finest 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 similar to gold, silver, and oil.” The Wealthy Dad Poor Dad writer added that the U.S. Securities and Change Fee (SEC) has categorized bitcoin as a commodity whereas most different crypto tokens are securities, cautioning that “SEC laws will crush most of them.” He ended his tweet by stating that he’s shopping for extra bitcoin.
SEC Chairman Gary Gensler has stated repeatedly that bitcoin is a commodity whereas most other 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 stated in November that its Enforcement Division stays focused on crypto. The SEC has been closely criticized for taking an enforcement-centric approach to regulating the crypto sector. Gensler stated in Might following the terra/luna collapse that a lot of crypto tokens will fail.
The Wealthy Dad Poor Dad writer has been recommending traders buy gold, silver, and bitcoin for fairly a while. Kiyosaki beforehand stated 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 investors will get richer when the Federal Reserve pivots and prints trillions of “faux” {dollars}. Following the collapse of crypto change FTX, Kiyosaki stated 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. dollar crashing, the Fed destroying the U.S. economy with its fee hikes, hyperinflation, a Greater Depression, and World War III.
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