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Robert Kiyosaki, vocal Bitcoin proponent, investor and financial guru, also known for his popular book “Rich Dad Poor Dad,” posted a tweet to make another grim market prediction.
He also revealed how much Bitcoin he bought after the U.S. Securities and Exchange Commission finally gave the green light to Bitcoin spot ETFs.
Kiyosaki’s catastrophic prediction; here is how much BTC he buys
Robert Kiyosaki tweeted that the United States should be prepared for big problems if the US Treasury, the Federal Reserve and the doctors of these government institutions fail to save the economy.
If the US dollar collapses, Kiyosaki writes, the United States risks falling into hyperinflation, he believes.
Kiyosaki has been defending the world’s flagship cryptocurrency, Bitcoin, for several years. He has been making bullish predictions since 2020, after the pandemic began and the U.S. government began printing huge amounts of U.S. dollars out of thin air.
He also tweeted from time to time that he was buying more Bitcoin. In today’s tweet, he also mentioned this and revealed that he purchased five more Bitcoins, adding them to his stash. Five Bitcoins are valued at $231,291 as of this writing.
Additionally, his purchase likely occurred after the SEC announced its regulatory decision on Bitcoin Spot Exchange Traded Funds: Approval.
SEC Gives Green Light to Bitcoin ETFs
The SEC finally signaled its approval of spot Bitcoin ETFs to several companies on Wednesday. There were applications from eleven issuers on the SEC team’s table, including one from BlackRock, VanEck, Fidelity, Ark Invest and Grayscale.
While waiting for the decision, they had been preparing to launch their Bitcoin-based spot ETFs soon and reduced their management fees under certain conditions to make their products attractive to clients.
The day before, SEC Chairman Gary Gensler announced that the SEC’s Twitter account had been compromised for less than an hour, dissolving the message posted by hackers that the ETF had been approved. The price of Bitcoin first rose, then plunged. However, some members of the Bitcoin community, including Anthony Scaramucci, did not believe Gensler, assuming that an SEC employee had just jumped the gun.