Robert Kiyosaki Buying More Bitcoin — Warns SEC Regulations Will Crush Most Cryptocurrencies

The well-known writer of the best-selling e-book Rich Dad Poor Dad, Robert Kiyosaki, has revealed why he’s shopping for extra bitcoin. He warned that the Securities and Exchange Commission (SEC) rules will “crush” most different cryptocurrencies.

Robert Kiyosaki Buys More Bitcoin, Warns About SEC Regulations Crushing Crypto Tokens

The writer of Rich Dad Poor Dad, Robert Kiyosaki, has revealed the important thing motive why he’s investing in bitcoin. The well-known writer warned that the Securities and Exchange Commission (SEC) will “crush” most different crypto tokens with its rules.

Rich Dad Poor Dad is a 1997 e-book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the e-book have been bought 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 classed as a commodity very similar to gold, silver, and oil.” The Rich Dad Poor Dad writer added that the U.S. Securities and Exchange Commission (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 other crypto tokens are securities. The chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has additionally confirmed that bitcoin is a commodity.

The securities regulator mentioned 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 mentioned in May following the terra/luna collapse that a lot of crypto tokens will fail.

The Rich Dad Poor Dad writer has been recommending buyers buy 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 investors will get richer when the Federal Reserve pivots and prints trillions of “pretend” {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 buyers to get into crypto now, earlier than the most important 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 charge hikes, hyperinflation, a Greater Depression, and World War III.

What do you consider Robert Kiyosaki shopping for extra bitcoin and his warning that SEC rules will crush most cryptocurrencies? Let us know within the feedback part under.