Robert Kiyosaki, known for his book “Rich Dad Poor Dad”, recently said that to Bitcoin (BTC) announced its investment.
Kiyosaki sees Bitcoin as a commodity similar to gold, silver and oil rather than a security.
Robert Kiyosaki Says Bitcoin Is Ahead Because It Is Considered A Commodity
This classification is important because securities are more strictly regulated by the Securities and Exchange Commission (SEC). Kiyosaki believes that many other cryptocurrencies classified as securities will face regulatory hurdles and will not be successful in the long run.
The famous writer expressed his thoughts in a tweet as follows:
“Q: Do you invest in Bitcoin?
A: Yes, I am investing. I am very excited about Bitcoin. You ask why? Because BTC is classified as a commodity like gold, silver and oil. Most crypto tokens are classified as a security, and SEC regulations will crush most of them. I get more BTC.”
Kiyosaki believes that these regulations will have a negative impact on many cryptocurrencies, but not Bitcoin in the same way.
Q: Are you investing in Bitcoin?
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BC— therealkiyosaki (@theRealKiyosaki) December 31, 2022
Despite the volatility and risk associated with BTC and other cryptocurrencies, Kiyosaki remains bullish on the future of BTC. He even said that he will buy more BTC.
It should be noted that the classification of Bitcoin and other cryptocurrencies as commodities or securities may vary depending on the country in which they are traded.
In the United States, for example, BTC is generally considered a commodity by the Commodity Futures Trading Commission (CFTC), while some other cryptocurrencies are classified as securities by the SEC.
*Not investment advice.
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