Robert Kiyosaki Cautions Against Bitcoin ETFs

gunhell16

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Quote from: Assiduous on June 30, 2024, 12:46:10 PM

Most people invest in Bitcoin already Financially successful. Seeing their success, many have decided to invest. But as a new investor, be careful in (ETF) investing. Robert Kiyosaki warns against investing in Bitcoin exchange-traded funds (ETFs). He prefers to invest in real bitcoins, calling bitcoin ETFs fake bitcoins.Last Thursday, Kiyosaki explained on social media platform X why he doesn't invest in bitcoin ETFs, saying he avoids them "for the same reason" he doesn't buy gold or silver ETFs.

The question is, are you sure that Robert Kiyosaki did not invest in Bitcoin? Remember that he is a businessman, an influential person, and a popular tycoon businessman all over the world. Remember, people like Kiyosaki can also be said to be some of the best manipulators in business.

It seems that Kiyosaki is no different from Elon Musk; just a post on Twitter of a meme coin, there are immediately many investors who are also whales who will also buy any coin that he says. So, it's the same with Robert Kiyosaki. Maybe it's possible because what he says is that he thinks it will have an impact on the fall in the price value of Bitcoin in the market, and when that happens, Kiyosaki will enter the opportunity to sell Bitcoin. We don't know or are sure that he can do it or not, but because he is a businessman, it really maybe or maybe not.

moneystery

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many people who buy etfs are not actually investing, but they just want to get a chance to profit from bitcoin price movements and don't want to bother buying bitcoin from an exchange, so they just need to buy etfs and trade them like stocks. maybe for those of us who already know bitcoin and have invested in it, we see that etfs are not that important, and it's better to invest in bitcoin directly, but for those who are still new or don't want to bother investing in bitcoin, maybe etfs will be a product that helps them to get profit in the bitcoin market. so whatever robert kiyosaki says, it won't change won't change the fact that there will still be people who use it.

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Quote from: Assiduous on June 30, 2024, 12:46:10 PM

Most people invest in Bitcoin already Financially successful. Seeing their success, many have decided to invest. But as a new investor, be careful in (ETF) investing. Robert Kiyosaki warns against investing in Bitcoin exchange-traded funds (ETFs). He prefers to invest in real bitcoins, calling bitcoin ETFs fake bitcoins.Last Thursday, Kiyosaki explained on social media platform X why he doesn't invest in bitcoin ETFs, saying he avoids them "for the same reason" he doesn't buy gold or silver ETFs.

The thing is that ETF successes are directly correlated to the strength of the institution that issues these. For firms like Blackrock, it would be safe to assume that unless a massive financial crisis comes around they'll stay afloat without trouble, however, ETFs from other institution are to be avoided for the sole purpose that soon as these companies go under, so does your money, and the worst thing about it is that you can't even sell these when shit hits the fan.

ETFs are basically paper contracts telling you that you technically own this much of something, in this case bitcoin, for the most sensible, it's way better just bagging bitcoin or silver and gold for that matter since at the very least you have full control over your assets, something you don't have with ETFs.

So while Robert Kiyosaki's been a little questionable these past few years, I think I'm gonna side with him on this one, just doesn't make sense for me to buy ETFs when I can just buy the real deal.

Supianto

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I wonder where you got statistics about how many people investing in Bitcoin are already successful. Also, I don't think that too many people are buying ETFs here, even if I could I wouldn't do that.

Solosanz

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Where were him when SEC approved Bitcoin ETF in six months ago? it's already too late for him to warn other people when the ETF hype is over.

He's just trying to ride the wave since his financial advice course and book no longer make a lot money, as you can see on his Youtube channel he have 3.35 Million subscribers, but most of his recent videos only viewed by less than 10K.

Robert Kiyosaki's era is over.

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Quote from: Catenaccio on July 01, 2024, 02:34:25 AM

Quote from: yazher on July 01, 2024, 02:27:04 AM

It depends on the capability of investors because sometimes having ETFs as one of their options to invest in bitcoins is a big advantage for others and there is no problem with that if you don't want to buy bitcoins from them and make your secured wallet and keep your bitcoins for total securities.

If Michael Saylor and Micro Strategy can invest billions of dollar into Bitcoin by themselves, be custodian by themselves, other institutional investors can do the same. If they understand risk of investment but are not self custodian, they will think and practice differently.

Michael Saylor ⚡ (MicroStrategy) Portfolio Tracker
https://saylortracker.com/

Many investors like to invest in bitcoin but they are not confident in managing the seeds/private keys themselves and if there is no ETF then how will they invest? And that's also why ETFs exist.
Additionally as far as I know, MicroStrategy holds about 214,400 BTC as of May 2024, equivalent to nearly 14-15 billion, while just a few months after the ETFs were approved, net inflows into the market through ETFs amounted to more than 12 billion. In the future, we will see an increasing amount of money pouring into the market through ETFs, so the role and influence of bitcoin ETFs cannot be denied.
https://www.binance.com/en/square/post/2024-03-31-bitcoin-spot-etfs-accumulate-12-13-billion-in-net-inflows-since-launch-6128139597834

Quote from: Catenaccio on July 01, 2024, 02:34:25 AM

Quote

Unlike others who don't have time to do all of that, they can simply rely on ETFs and do their daily activities without stressing themselves about their bitcoins. it is just a matter of trust and capability because if others don't do it, others see it as an opportunity.

It can bring convenience and comfortableness to big investors but on top of that is risk, very high risk. Blaming many reasons and ignore risk, to choose Bitcoin Spot ETFs, they actually ignore risk and don't focus enough on security of their money.

Everything has risk, storing bitcoin with a non-custodial wallet also has risk, it does not guarantee we are completely immune to risk. As I said, not everyone can be confident in their ability to self custody assets, especially the elderly, and the emergence of ETFs is the solution for them.

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Quote from: yazher on July 01, 2024, 02:27:04 AM

It depends on the capability of investors because sometimes having ETFs as one of their options to invest in bitcoins is a big advantage for others and there is no problem with that if you don't want to buy bitcoins from them and make your secured wallet and keep your bitcoins for total securities.

If Michael Saylor and Micro Strategy can invest billions of dollar into Bitcoin by themselves, be custodian by themselves, other institutional investors can do the same. If they understand risk of investment but are not self custodian, they will think and practice differently.

Michael Saylor ⚡ (MicroStrategy) Portfolio Tracker
https://saylortracker.com/

Quote

Unlike others who don't have time to do all of that, they can simply rely on ETFs and do their daily activities without stressing themselves about their bitcoins. it is just a matter of trust and capability because if others don't do it, others see it as an opportunity.

It can bring convenience and comfortableness to big investors but on top of that is risk, very high risk. Blaming many reasons and ignore risk, to choose Bitcoin Spot ETFs, they actually ignore risk and don't focus enough on security of their money.

yazher

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It depends on the capability of investors because sometimes having ETFs as one of their options to invest in bitcoins is a big advantage for others and there is no problem with that if you don't want to buy bitcoins from them and make your secured wallet and keep your bitcoins for total securities.

Unlike others who don't have time to do all of that, they can simply rely on ETFs and do their daily activities without stressing themselves about their bitcoins. it is just a matter of trust and capability because if others don't do it, others see it as an opportunity.

avikz

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Quote from: Assiduous on June 30, 2024, 12:46:10 PM

Most people invest in Bitcoin already Financially successful. Seeing their success, many have decided to invest. But as a new investor, be careful in (ETF) investing. Robert Kiyosaki warns against investing in Bitcoin exchange-traded funds (ETFs). He prefers to invest in real bitcoins, calling bitcoin ETFs fake bitcoins.Last Thursday, Kiyosaki explained on social media platform X why he doesn't invest in bitcoin ETFs, saying he avoids them "for the same reason" he doesn't buy gold or silver ETFs.

Bitcoin ETF is useless! Especially when it is extremely easy to buy real Bitcoins from the market or from an exchange. If both case, the investors will have to produce KYC documents. So it really makes no difference for an investor if he/she wants to ditch ETF and move to real Bitcoin.

The only concern is security. A lot of people are not tech savy or they do not want to manage their own funds. That's where ETFs come in handy. It's secure to own ETF units than real bitcoin because then the investor do not have to worry about the security of their investment. That's the only field where ETF makes sense! otherwise, it's all in the hand of a corporate.

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Quote from: MeGold666 on June 30, 2024, 03:54:22 PM

Robert Kiyosaki is a fake guru AKA a scammer. Cheesy

https://www.youtube.com/watch?v=R8RiHTu2qUM

Cheers!

And why is the exact same thought spinning in my head? Yes, all because this person himself cannot decide on his path in life. If he is successful, then why bother with things where he has little understanding of what is at stake? He makes some ridiculous predictions that almost never come true. This has been happening for several years now, but he still continues to say something there.

Are there really those who still listen to him? Isn't it time to move past him and start thinking with your own head?

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I think this is not new but an old tweet like some weeks ago.

Quote from: mindrust on June 30, 2024, 12:55:36 PM

Robert says don't touch the ETF's. Alright fine. I am not doing it. Will it change a thing? No it won't. Then why even care?

He cares because he knows bitcoin ETF is not the real bitcoin while letting people to know that also. Some people will not even see what he posted on X but that does means the truth should not be told.

Quote from: Z-tight on June 30, 2024, 02:24:22 PM

Institutional investors would buy BTC through spot etf's, even if we tell them that they are not buying BTC in the right way, and the only way to truly own BTC is if you have your own keys, because not your keys, is not your coins. I would not buy BTC through spot etf's, but if people find it suitable to do, then each to their own, people even do worse things, like storing their coins in centralized exchanges, i know it is similar to buying BTC through etf's, but i think it is worst.

ETF is safe than those having their coin left on centralized exchanges but I strongly against both because as storing your coins on centralized exchanges is like not your key not your coin, bitcoin ETFs are also indirectly like that.

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Not your keys, not your coins!

Quote from: GreatArkansas on June 30, 2024, 10:49:33 PM

I am with Robert Kiyosaki, Bitcoin is totally different in having its ETF, the essence of being decentralized on Bitcoin is likely becoming useless, and it can cause manipulation, especially in price.
But we really can't avoid it, it's already here, just like what happened to Gold, where some people wanted ETF on Bitcoin because they believed that price could follow the Gold after ETF.

Bitcoin is different than Gold. Bitcoin with blockchain technology and its design allows us to have private keys that give us control of our bitcoin.

If we buy shares of Bitcoin Spot ETFs, we don't own private keys that means we don't actually own bitcoin. We spend money but must believe that these Bitcoin Spot ETF companies and their partners play as custodians like Coinbase will run their business transparently and safely, care about their business survival and do care about customers.

We don't know what they do, what will happen with them that all affect our money. Believe is only believe so investors with their own money, need to make choice that should be smart one.

Smack That Ace

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Robert Kiyosaki Cautions Against Bitcoin ETFs

But we cannot deny that without a bitcoin ETF, we would not be able to witness the huge influx of money into the market from traditional funds. Large funds such as Blackrock, ARK 21Shares, Fidelity will not invest in bitcoin if the ETF is not approved. Investing through ETFs, we will not own real bitcoin, but that is not something everyone is interested in, especially large investment funds. What they care more about is the legitimacy of bitcoin and bitcoin ETF is the proof to prove bitcoin becomes legal.

We don't even need these types of warnings because as bitcoin investors before the ETF was approved, everyone understood this. Besides, what good is a warning if we don't stop the ETFs?

GreatArkansas

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Quote from: Assiduous on June 30, 2024, 12:46:10 PM

Most people invest in Bitcoin already Financially successful. Seeing their success, many have decided to invest. But as a new investor, be careful in (ETF) investing. Robert Kiyosaki warns against investing in Bitcoin exchange-traded funds (ETFs). He prefers to invest in real bitcoins, calling bitcoin ETFs fake bitcoins.Last Thursday, Kiyosaki explained on social media platform X why he doesn't invest in bitcoin ETFs, saying he avoids them "for the same reason" he doesn't buy gold or silver ETFs.

I am with Robert Kiyosaki, Bitcoin is totally different in having its ETF, the essence of being decentralized on Bitcoin is likely becoming useless, and it can cause manipulation, especially in price.
But we really can't avoid it, it's already here, just like what happened to Gold, where some people wanted ETF on Bitcoin because they believed that price could follow the Gold after ETF.

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Quote from: Assiduous on June 30, 2024, 12:46:10 PM

Robert Kiyosaki warns against investing in Bitcoin exchange-traded funds (ETFs). He prefers to invest in real bitcoins, calling bitcoin ETFs fake bitcoins.Last Thursday, Kiyosaki explained on social media platform X why he doesn't invest in bitcoin ETFs, saying he avoids them "for the same reason" he doesn't buy gold or silver ETFs.

Robert only said the truth that most of us knew.

But from knowing about the risk, to practice against the risk, is different and not all of people knew about the risk will have practice against the risk.

Not your keys, not your coins gives enough information on risk of storing bitcoin in custodial wallets like centralized exchanges. With Bitcoin Spot ETFs, risk is higher like doubled. Bitcoin Spot ETFs are not custodians, they hire other companies like Coinbase as a custodian.

Reminder: do not keep your money in online accounts

franky1

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ETF's only benefit salary receivers where employers subtract tax at the payday.. because investors can then use their pre-tax income to buy shares exposed to the bitcoin market price movements before the employers subtracts tax thus get etf shares price exposure at a discount compared to buying bitcoin after tax deductions
but this benefit is just about getting price exposure pre-tax for people taxed at source of income. you dont get the benefit of owning real bitcoin, nor the benefit of not needing a portfolio manager.. because buying ETF shares means your locked into agreements with portfolio managers and their fee's and such

but for those self employed such as RK. there is no benefit of ETF's because he can use his other methods of self employed income to invest in real bitcoin before declaring tax so can buy real bitcoin and then assign tax profit/loss at the end of year

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ETFs are not for average bitcoiners and holders after all, it probably for institutional investors who always ask for insurance. Remember it was approved because there is an existing markets and target users of it. But just because it is not a good way to have Bitcoin it doesn't mean the majority will not get any benefit from it.

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Quote from: Assiduous on June 30, 2024, 12:46:10 PM

Robert Kiyosaki warns against investing in Bitcoin exchange-traded funds (ETFs). He prefers to invest in real bitcoins, calling bitcoin ETFs fake bitcoins.Last Thursday, Kiyosaki explained on social media platform X why he doesn't invest in bitcoin ETFs, saying he avoids them "for the same reason" he doesn't buy gold or silver ETFs.

Whether he likes it or not, there are investors who will prefer to invest in Bitcoin ETFs than buy real Bitcoins. That's what they prefer to have and so if he talks something bad about it, it can't be helped. He's bullish on Bitcoin and keeps talking about it but with these adoptions that are happening to BTC, he can't stop it nor can the people that will choose it as their way of investing in this market. And he's free to invest to anything he prefers. I know that he's got a significant following and he's got the most popular book of "Rich dad, poor dad". Maybe some investors or those that are fans of his might listen to him.

MeGold666

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Robert Kiyosaki is a fake guru AKA a scammer. Cheesy

https://www.youtube.com/watch?v=R8RiHTu2qUM

Cheers!

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Quote from: Assiduous on June 30, 2024, 12:46:10 PM

Most people invest in Bitcoin already Financially successful. Seeing their success, many have decided to invest. But as a new investor, be careful in (ETF) investing. Robert Kiyosaki warns against investing in Bitcoin exchange-traded funds (ETFs). He prefers to invest in real bitcoins, calling bitcoin ETFs fake bitcoins.Last Thursday, Kiyosaki explained on social media platform X why he doesn't invest in bitcoin ETFs, saying he avoids them "for the same reason" he doesn't buy gold or silver ETFs.

This is not the first when someone used similar kinds of words for ETF but as people want to use it, no one can stop them actually it brings relief for the investors as they can enjoy security under others. Even though most of the Bitcoiners are here to support the narrative, not your key, not your funds, investors don't care about such things all they need is good returns. Now whether its just figures of real-time assets.

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