Robert Kiyosaki Buys More Bitcoin After SEC Greenlights ETFs
In a recent social media post, financial expert and author Robert Kiyosaki, widely recognized for his bestselling book "Rich Dad Poor Dad," shared his perspectives on the market.
Known for his strong support of Bitcoin, Kiyosaki disclosed the amount of the cryptocurrency he acquired following the approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission (SEC).
Expressing concern about potential challenges for the U.S. economy, Kiyosaki suggested that a failure by the U.S. Treasury, Federal Reserve, and institutional experts to safeguard the economy could lead to significant trouble, including the possibility of hyperinflation if the U.S. dollar collapses.
Advocating for Bitcoin since 2020, particularly during the pandemic and the substantial increase in U.S. dollar printing by the government, Kiyosaki has periodically shared optimistic predictions and updates on his Bitcoin holdings on social media.
In his latest communication, he revealed the acquisition of an additional five Bitcoins, contributing to his existing portfolio. At the time of disclosure, the value of these five Bitcoins amounted to $231,291. Notably, this purchase is believed to have taken place subsequent to the SEC’s approval of spot-based Bitcoin exchange-traded funds.
Coinciding with Kiyosaki’s announcement, the SEC granted approval for spot Bitcoin ETFs to several companies, including industry heavyweights like BlackRock, VanEck, Fidelity, Ark Invest, and Grayscale. In anticipation of the SEC’s decision, these issuers had made preparations for the potential launch of their Bitcoin-based ETFs, adjusting management fees to attract investor interest.
READ MORE: Edward Snowden Condemns SEC’s Bitcoin ETF Mishap
Interestingly, the SEC faced a brief episode of misinformation when Chairman Gary Gensler reported a temporary compromise of the SEC’s official Twitter account. The incident briefly led to confusion in the market, impacting Bitcoin prices.
However, opinions within the Bitcoin community varied, with some, such as Anthony Scaramucci, casting doubt on Gensler’s statement and speculating that an SEC employee may have prematurely disclosed the decision.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
