The major reason why Rich Dad Poor Dad author Robert Kiyosaki is investing in bitcoin has been made public. The renowned author stated that most other crypto coins will be "destroyed" by Securities and Exchange Commission (SEC) legislation.
On Friday, Kiyosaki posted on Twitter that he is buying bitcoin. the Securities and Exchange Commission (SEC) of the United States has classified bitcoin as a commodity, while most other crypto tokens are securities, and that "SEC laws will kill most of them," the Rich Dad Poor Dad author continued, adding that he is "extremely thrilled" about BTC because it "is classified as a commodity similar to gold, silver, and oil."
The author of Rich Dad Poor Dad has long advocated for investors to buy gold, silver, and bitcoin. As an investor in bitcoin rather than a trader, Kiyosaki has previously claimed that he enjoys it when BTC reaches new lows.
He asserted earlier this month that token investors would profit if the Federal Reserve changed course and produced trillions of "fake" dollars. After the collapse of the cryptocurrency exchange FTX, Kiyosaki declared that he was still bullish on bitcoin, highlighting the fact that crypto cannot be held responsible for FTX's failure. The well-known author advised readers to buy Bitcoin now, before the next market collapse, in a September article.
In addition, Kiyosaki foresaw the demise of the US dollar, rate hikes by the Fed that would destroy the US economy, hyperinflation, a Great Depression, and World War III.
