Financial guru Robert Kiyosaki, author of the bestselling book “Rich Dad Poor Dad,” sparked new enthusiasm for Bitcoin (BTC) after praising the cryptocurrency in a recent tweet. Kiyosaki’s bullish comment comes at a pivotal moment, with the world’s leading cryptocurrency rocketing over 11% to surpass the $63,000 mark after a remarkable 24-hour period. Here are the details…
Bitcoin rose, Kiyosaki commented
cryptokoin.com As we reported, Bitcoin’s rapid rise has fascinated the financial world. Thereupon, Kiyosaki expressed his observations on social media. He emphasized that Bitcoin experienced a slight pullback after the dramatic rise that saw it rise from the $57,140 region to $63,650. Because the current trading price of BTC is around $62,770.
Earlier this week, Kiyosaki hinted at his bullish stance on Bitcoin via another tweet. He explained his decision to invest in Bitcoin and silver, citing the worsening banking crisis, rising geopolitical tensions, and the upcoming launch of central bank digital currencies (CBDCs) as potential threats to financial security. Kiyosaki sees these crypto assets as preferable alternatives to “fake US dollars” controlled by central authorities.
It doesn’t matter if BTC falls
Demonstrating a contrary investment strategy, Kiyosaki even showed a positive attitude towards the potential decline in Bitcoin prices. He sees such market corrections as “sells” that present an opportunity to acquire more assets at discounted prices. This dovetails with his earlier criticism of the Fed, accusing the agency of endangering the U.S. economy and widening the wealth gap.
Why did prices rise?
So what is fueling Bitcoin’s recent rise? A key factor in this appears to be the growing appeal of spot exchange-traded funds (ETFs). Approved by the SEC in January, these investment vehicles are actively accumulating Bitcoin and attracting significant investments from major players such as BlackRock and Fidelity. This increased institutional participation, combined with overall rising market sentiment, is believed to be fueling Bitcoin’s current price momentum.
Kiyosaki’s endorsement of Bitcoin amid its recent uptrend will likely attract more attention from investors and continue to fuel discussions about the future of decentralized finance. It remains to be seen whether this positive sentiment will translate into sustainable growth for Bitcoin, but one thing is certain: Cryptocurrency remains a hot topic in the financial landscape.
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