Robert Kiyosaki Buying More Bitcoin — Warns SEC Regulations Will Crush Most Cryptocurrencies
3 min read
The well-known creator of the best-selling guide Wealthy Dad Poor Dad, Robert Kiyosaki, has revealed why he’s shopping for extra bitcoin. He warned that the Securities and Trade Fee (SEC) laws will “crush” most different cryptocurrencies.
Robert Kiyosaki Buys More Bitcoin, Warns About SEC Regulations Crushing Crypto Tokens
The creator of Wealthy Dad Poor Dad, Robert Kiyosaki, has revealed the important thing cause why he’s investing in bitcoin. The well-known creator warned that the Securities and Trade Fee (SEC) will “crush” most different crypto tokens with its laws.
Wealthy Dad Poor Dad is a 1997 guide co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Instances Finest Vendor Listing for over six years. More than 32 million copies of the guide have been offered in over 51 languages throughout greater than 109 nations.
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 classified as a commodity much like gold, silver, and oil.” The Wealthy Dad Poor Dad creator added that the U.S. Securities and Trade Fee (SEC) has categorised bitcoin as a commodity whereas most different crypto tokens are securities, cautioning that “SEC regulations 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 centered on crypto. The SEC has been closely criticized for taking an enforcement-centric strategy to regulating the crypto sector. Gensler mentioned in Could following the terra/luna collapse that a number of crypto tokens will fail.
The Wealthy Dad Poor Dad creator 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 “fake” {dollars}. Following the collapse of crypto alternate FTX, Kiyosaki mentioned he’s nonetheless bullish on bitcoin, emphasizing that crypto can’t be blamed for the FTX meltdown. In September, the famend creator urged traders to get into crypto now, earlier than the most important 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 Better Despair, and World Struggle III.
What do you concentrate on Robert Kiyosaki shopping for extra bitcoin and his warning that SEC laws will crush most cryptocurrencies? Tell us within the feedback part beneath.
Kevin Helms
Picture Credit: Shutterstock, Pixabay, Wiki Commons
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