Robert Kiyosaki criticizes ETFs: "Paper debt instruments" cannot replace physical assets like gold, silver, and Bit.

Robert Kiyosaki, the author of "Rich Dad Poor Dad," recently warned investors that Bitcoin, gold, and silver ETFs (exchange-traded funds) are merely "paper version" assets that cannot replace physical assets held. He compared ETFs to "a picture of a gun," believing they may be useful during economic stability but are worthless in a crisis.

Kiyosaki emphasizes that real gold, silver, Bitcoin, and self-defense tools (such as firearms) are the best choices to cope with turmoil. He has long advocated abandoning fiat currency in favor of holding non-nominal assets to hedge against inflation and the risk of dollar depreciation, and points out that if the ETF issuer's reserves are insufficient, their paper claims may collapse due to a crisis of confidence.

However, despite Kiyosaki's skepticism towards ETFs, industry experts like Bloomberg analyst Eric Balchunas believe that his concerns are unfounded. He pointed out that spot Bitcoin ETFs strictly adhere to a 1:1 asset reserve mechanism, and that custodians and issuers are legally separate, ensuring security.

Analysts also believe that the ETF industry has established a reliable reputation over the past 30 years. Especially for ordinary investors, self-storage of physical gold or Bit may face high storage costs and security risks (such as theft or fraud), while regulated ETFs provide a more convenient and lower-threshold option.

Therefore, different viewpoints suggest that for some investors, an ETF may be safer and more convenient than self-custody of cryptocurrencies or bearing the high storage security costs of precious metals.

In summary, although the spot Bitcoin ETF has played a positive role in attracting mainstream capital, its "indirect holding" model has raised public concerns.

Critics represented by Ryoshin believe that true asset sovereignty should be firmly in the hands of individuals, especially in times of crisis, when paper debts may become worthless due to liquidity runs or institutional discredit.

In the future, as the scale of ETFs continues to expand, the clash between these two viewpoints is expected to persist. One side pursues safety and convenience, while the other adheres to the hardcore belief that "not having the private key means not truly owning it," highlighting the significant divergence between cryptocurrency and traditional finance in terms of asset ownership and trust mechanisms.

#ETF # Bitcoin #Gold