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Personal finance author Robert Kiyosaki is cautioning against having Bitcoin (BTC) exposure through exchange-traded funds (ETFs) rather than holding real coins.
In a new post on the social media platform X, the Rich Dad Poor Dad author refers to Bitcoin ETF shares as “paper,” emphasizing that it’s still better to own the real asset directly rather than depend on institutions for exposure.
“BEWARE of PAPER.
I realize ETFs make investing easier for the average investor….so I do recommend ETFs for the average investor. Yet I extend these words of caution.
For the average investor, I recommend:
Gold ETFs
Silver ETFs
Bitcoin ETFs
Yet an ETF is like having a picture of a gun for personal defense.
Sometimes it’s best to have real gold, silver, Bitcoin, and a gun.
Know the differences when it is best to have real and when it’s best to have paper.
If you know the differences and how to use them…. you’re better than average.
Take care.”
Kiyosaki’s warning comes amid an explosion in the market cap of all Bitcoin ETFs. The latest numbers from the crypto data aggregator Coinglass show that Bitcoin ETFs collectively hold a market cap of $152.73 billion.
At the top of the list is BlackRock’s iShares Bitcoin Trust (IBIT) with a market cap of $86.11 billion, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust ETF (GBTC) with market caps of $23.14 billion and $21.33 billion, respectively.
