Macroeconomist Raoul Pal has publicly defended Bitcoin against recent criticism leveled by the Financial Times. Pal dismissed the FT’s stance as outdated, likening it to the sentiment of ‘angry old men who shake their fists at clouds.’
Countering assertions that Bitcoin primarily facilitates fraudulent activities, Pal highlighted its performance record. He emphasized Bitcoin’s position as the best-performing major asset class over the last decade as evidence contradicting the negative portrayal.
Separately, personal finance author Robert Kiyosaki offered a nuanced view on spot Bitcoin exchange-traded funds (ETFs). While acknowledging their potential to simplify Bitcoin exposure for average investors and expand accessibility to institutional capital by mitigating custody complexities, Kiyosaki maintained a preference for direct asset ownership.
Kiyosaki expressed skepticism about ETFs, comparing them to ‘fake food’ due to the perceived lack of intrinsic value relative to owning physical Bitcoin, gold, or silver directly. He continues to advocate for direct ownership of these assets despite recognizing the convenience ETFs provide to some investors.