We have just discovered that the author of one of the best-selling books in history, Robert Kiyosaki, is buying more bitcoin. He warned that the Securities and Exchange Commission (SEC) regulations would “destroy or severely impact” most other cryptocurrencies.
Robert Kiyosaki confirms buying more Bitcoins
Author Robert Kiyosaki has recently said that the key reason he invested in bitcoins is a lack of safety due to the corrupt political system. The SEC will “crush” most other crypto tokens with new regulations if the warnings of the famous author are to be believed.
Rich Dad Poor Dad is a book co-authored by Kiyosaki and Sharon Lechter and published in 1997. It has been on the New York Times Best Seller List for over six years, and I’m pretty sure that list will apply to any other book against it. Over 32 million book copies have been sold in more than 109 countries.
Who is Robert Kiyosaki?
Robert Kiyosaki is a best-selling author and speaker who is best known for his book “Rich Dad Poor Dad” which advocates for financial literacy and the importance of building wealth through investing and entrepreneurship. He has also written numerous other books on personal finance and business and created educational games and other materials to help people learn about money management and investing. Kiyosaki has been controversial, with some people praising his advice and others criticizing it.
On Friday, Kiyosaki tweeted that he is investing in bitcoin and is very excited about it because it is classified as a commodity, similar to gold, silver, and oil. He also mentioned that the US Securities and Exchange Commission (SEC) has classified bitcoin as a commodity but has classified most other cryptocurrencies as securities. He warned that SEC regulations might negatively impact these tokens. Kiyosaki concluded the tweet by stating that he is purchasing more bitcoin.
Q: Are you investing in Bitcoin?
— therealkiyosaki (@theRealKiyosaki) December 31, 2022
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
Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), and Rostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC), have stated that bitcoin is a commodity. At the same time, most other cryptocurrencies are considered securities. The SEC has faced criticism for its enforcement-focused approach to regulating the cryptocurrency sector. In November, the regulator announced that its Enforcement Division was continuing to focus on cryptocurrencies. Gensler also predicted in May that many cryptocurrencies would fail following the collapse of terra/luna.
Robert Kiyosaki, the author of Rich Dad Poor Dad, has long recommended that investors consider purchasing gold, silver, and bitcoin. He has previously stated that he is a bitcoin investor, not a trader, and therefore becomes excited when the price of bitcoin reaches a new low. Earlier this month, he predicted that bitcoin investors would benefit when the Federal Reserve begins printing large amounts of money. Despite the recent collapse of the FTX crypto exchange, Kiyosaki remains optimistic about bitcoin and believes that the cryptocurrency should not be held responsible for the FTX meltdown. In September, Kiyosaki advised investors to enter the cryptocurrency market before a significant market crash occurred.
What are the different types of Investment?
There are many different types of investments, including:
- Stocks: These are ownership shares in a company, and your Investment’s value can rise or fall depending on the company’s performance.
- Bonds: These are loans that companies and governments issue to raise money. By buying a bond, you are lending money to the issuer in trade for interest payments and retrieving the principal when the bond matures.
- Mutual funds: Such Investment where many investors use their money to buy different type of stocks, bonds, or other securities.
- Exchange-traded funds (ETFs): These funds are similar to mutual funds but are traded on stock exchanges like individual stocks.
- Real estate: This can include investing in properties such as rental houses or apartments or investing in real estate investment trusts (REITs), companies that own and manage commercial properties such as shopping malls or office buildings.
- Commodities: This category includes physical goods such as gold, oil, or agricultural products that can be bought and sold.
- Collectibles: This category includes rare or valuable items such as stamps, coins, or works of art that are bought with the hope of appreciation in value.
- Cryptocurrencies: Assets that are digital that use cryptography for security and are traded on online exchanges. Examples include Bitcoin and Ethereum.
This is just a tiny sampling of the many types of investments available. It is essential to do your research and consult with a financial professional before making any investment decisions.