• Robert Kiyosaki, author of Rich Dad Poor Dad, is investing in Bitcoin because it is classified as a commodity.
• Kiyosaki warned that the Securities and Exchange Commission (SEC) regulations will „crush“ most other cryptocurrencies.
• The SEC and CFTC have both confirmed that Bitcoin is a commodity.

Robert Kiyosaki, the famous author of the best-selling book Rich Dad Poor Dad, has recently revealed why he is investing in Bitcoin. He believes that the cryptocurrency is a commodity much like gold, silver, and oil, and that the U.S. Securities and Exchange Commission (SEC) regulations will “crush” most other crypto tokens.

Kiyosaki’s 1997 book Rich Dad Poor Dad has been a New York Times Best Seller for over six years and has sold more than 32 million copies in over 51 languages across 109 countries. On Friday, he took to Twitter to announce his intention to buy more Bitcoin and explained why he is “very excited” about the crypto asset.

The SEC Chairman Gary Gensler has said repeatedly that Bitcoin is a commodity while most other crypto tokens are securities. This has been confirmed by the Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, who has stated that Bitcoin is a commodity.

The SEC has been criticized for targeting crypto exchanges and other crypto-related businesses with enforcement actions since 2018. However, it has also issued guidance on crypto and digital asset markets, which is aimed at helping investors make informed decisions. The regulator is currently working on a new set of rules for crypto brokers and dealers.

Kiyosaki’s recent crypto investment is a sign that the industry is gaining more mainstream attention. He may be the first in a long line of famous authors, celebrities, and investors who will invest in the crypto space. It remains to be seen what the future holds for the SEC and its regulations, but it’s clear that the regulator is taking the crypto industry seriously.