- Robert Kiyosaki, author of “Rich Dad Poor Dad”, revealed on Twitter that he bought 5 more Bitcoins, worth about $231,291, after the SEC approved spot Bitcoin ETFs.
- Kiyosaki believes the US dollar could collapse into hyperinflation, so he advocates for Bitcoin. The SEC approving spot Bitcoin ETFs from major firms like BlackRock and VanEck validates Bitcoin in mainstream finance.
- Bitcoin’s price initially rose then plunged when SEC Chairman Gary Gensler said the SEC Twitter was briefly hacked, denying a message about ETF approval. Some doubted Gensler’s account before the formal SEC announcement.
Robert Kiyosaki, author of the popular personal finance book “Rich Dad Poor Dad“, recently revealed on Twitter how much Bitcoin he purchased after the SEC approved spot-based Bitcoin exchange-traded funds (ETFs).
Kiyosaki’s Market Prediction and Bitcoin Purchase
Kiyosaki tweeted that the US should prepare for “big trouble” if the Treasury and Fed fail to save the economy. He believes the US dollar could collapse into hyperinflation.
Kiyosaki has advocated for Bitcoin over the past few years, making bullish predictions since 2020 after the pandemic started. He occasionally tweets that he is buying more Bitcoin. In his latest tweet, he mentioned buying 5 more Bitcoins, adding to his existing holdings. At current prices, 5 Bitcoins are worth around $231,291.
His purchase likely occurred after the SEC’s decision to approve spot Bitcoin ETFs.
SEC Approval of Spot Bitcoin ETFs
On Wednesday, the SEC signaled approval for spot Bitcoin ETFs from multiple companies. Firms like BlackRock, VanEck, Fidelity, Ark Invest, and Grayscale had been waiting for the decision and prepared to launch spot ETFs quickly after approval. They reduced management fees to attract customers.
A day before, SEC Chairman Gary Gensler said the SEC Twitter account had been briefly compromised, dissolving the hackers’ message about ETF approval. Bitcoin’s price initially rose then plunged. However, some in crypto, including Anthony Scaramucci, doubted Gensler’s account.
Conclusion
The SEC’s approval of spot Bitcoin ETFs is a milestone for crypto adoption. Kiyosaki revealed he bought more Bitcoin following the news. Despite short-term volatility, the decision validates Bitcoin in the eyes of mainstream finance. Kiyosaki and other crypto advocates remain bullish on Bitcoin’s long-term prospects.
