Robert Kiyosaki Boosts Bitcoin Holdings Despite Economic Concerns
(Originally posted on : Crypto News – iGaming.org )
Renowned author and financial educator Robert Kiyosaki, widely known for his book “Rich Dad Poor Dad,” has made major efforts to expand his bitcoin holdings in reaction to recent events in the cryptocurrency market. Kiyosaki’s decision followed the U.S. Securities and Exchange Commission’s (SEC) approval of 11 spot bitcoin exchange-traded funds (ETFs).
Expressing profound concerns about the U.S. economy, particularly the approaching prospect of hyperinflation, Kiyosaki announced his new move on social media. He expressed his thoughts on the state of the economy in a post on X, writing, “Deflation or inflation? What if the Fed, Treasury, and White House PhDs caused hyperinflation in the economy? He went on to stress the value of independence: “I hope not…But what would happen if our politicians screwed up, the dollar crashed, and hyperinflation broke out?”
Kiyosaki’s Bitcoin Purchase
Kiyosaki made the decision to act by expanding his bitcoin holdings in reaction to his worries. He stated on the social networking platform: “That’s why I bought 5 more bitcoin today.” This action is in line with his long-standing support of alternative assets as hedges against economic uncertainty, such as bitcoin, silver, and gold.
Kiyosaki’s calculated move follows the SEC’s historic approval of eleven spot bitcoin ETFs, which made mainstream trading possible on NYSE Arca, Nasdaq, and Cboe BZX Exchange. With the ETFs’ Thursday opening of trading, investors now have more ways to participate in the bitcoin market.
Prominent supporter of bitcoin, Kiyosaki, has remained optimistic about the virtual currency. He has constantly emphasized bitcoin’s usefulness as a hedge against hyperinflation and believes its price will soon exceed $150,000. The well-known forecaster has previously predicted that bitcoin will reach $500,000 by 2025, highlighting the urgent need for investors to take into account alternative assets in light of worries about the direction of the economy as a whole and the U.S. dollar in particular.
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