Author of finance book “Rich Dad Poor Dad” Robert Kiyosakiannounced that it is buying more Bitcoin (BTC) at the current price. Kiyosaki shared a post he shared just before the new year. tweetHe explained that the reason BTC is currently only bullish is that he believes it will “crush” most altcoins with the strict regulation of the SEC.
bitcoin I’m very excited about. Because BTC is also classified as a commodity like gold, silver and oil. Most cryptocurrencies are classified as securities, and SEC regulations will crush most of them. I buy more BTC.NEWS CONTINUES BELOW
According to Kiyosaki, the measures proposed by the SEC will destroy the bulk of altcoins. Kiyosaki continued to explain the arguments as to why he bought more BTC towards 2023.
Q: Are you investing in Bitcoin?
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BCNEWS CONTINUES BELOW
— Robert Kiyosaki (@theRealKiyosaki) December 31, 2022
As we have announced as Koinfinans.com, in June 2022, cryptocurrency A bipartisan bill on the regulation of the unit was presented. The main purpose of the proposed legislation was to create regulations for many different types of cryptocurrencies. Precaution, altcoinIt contains details that put them under the SEC’s jurisdiction. The Commodity Futures Trading Commission (CFTC) will be responsible for monitoring the status of Bitcoin within the commodity category.
In mid-December, the SEC announced that it had classified FTT, the native token of bankrupt cryptocurrency exchange FTX, as a security in a complaint. This development led to rumors and questions about the legal status of other tokens traded on centralized exchanges and the implications this development could have for other platforms.
Kiyosaki, a longtime Bitcoin supporter, predicted last month that gold, silver and BTC holders would profit when the Federal Reserve, Treasury and Wall Street started printing trillions of dollars. He said the biggest losers would be “fake money savers”.
After things started to calm down after the collapse of FTX, Kiyosaki predicted that the price of Bitcoin could drop as low as $10,000. Kiyosaki also said that he plans to increase his holdings by taking advantage of the possibility that the value of Bitcoin will fall between $10,000 and $12,000 as a result of the sales.