Robert Kiyosakiauthor of the best-selling book on personal finance rich dad poor dadrevealed that it is acquiring more BTC at current prices.
In a tweet posted on Saturday, Kiyosaki claimed that the Securities and Exchange Commission (SEC) will wipe out most altcoins with its regulations and suggested that’s why it’s only bullish on BTC at the moment. He stated :
“I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity, just like gold, silver and oil. the SEC are going to crush most of them. I prefer to invest in BTC”.
In an interview with CNBC in early October, SEC Chairman Gary Gensler, reaffirmed his belief that Bitcoin is a commodity, while most other crypto tokens are securities. “The law is clear on this. I believe, based on the facts and circumstances, that most of these tokens are securities,” he said at the time.
In mid-December, the SEC also classified FTT, the native token of the exchange FTX, now bankrupt, as a security in a lawsuit. This decision has sparked speculation about the nature of other native tokens from centralized exchanges, and if they are considered securities, what this might mean for these platforms.
The agency noted that FTT was sold as an investment contract and benefited from an increase in demand for trading on FTX, “so any increase in the price of FTT would benefit FTT holders equally. and directly proportional to their FTT holdings.” He added :
“The large allocation of tokens to FTX has prompted the FTX management team to take action to attract more users to the platform and thereby increase the demand and trading price of the FTT token.”
Kiyosaki, a longtime bitcoin advocate, said last month that those who own gold, silver and BTC will get richer when the Federal Reservethe US Treasury and Wall Street will make another economic policy pivot, and will decide to print billions of dollars. “Counterfeit money savers will be the biggest losers,” he said.
Following FTX’s collapse, he said Bitcoin could go down to $10,000 once things get back to normal. He added that in this case, he would take the opportunity to build up a reserve.
rich dad poor dad by Kiyosaki was published in 1997 and advocates the importance of financial education, financial independence, and wealth creation through investing in assets, real estate, starting and owning businesses, and by improving their financial intelligence. It was on the New York Times Best Seller List for over six years.
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