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Vocal Bitcoin supporter, investor and financial guru Robert Kiyosaki, also well known for his popular book “Rich Dad Poor Dad,” has published a tweet to make another gloomy market prediction.
He also revealed how much Bitcoin he purchased after the U.S. Securities and Exchange Commission finally gave a green light to Bitcoin spot ETFs.
Kiyosaki’s doom prediction; here’s how much BTC he buys
Robert Kiyosaki tweeted that the U.S. should be ready for big trouble if the U.S. Treasury and the Federal Reserve, and the PhDs in these governmental institutions, should fail to save the economy.
If the U.S. dollar collapses, Kiyosaki wrote, the U.S. is likely to fall into hyperinflation, he believes.
Kiyosaki has been advocating the world’s flagship cryptocurrency, Bitcoin, over the past few years. He has been making bullish predictions since 2020, after the pandemic started and the U.S. government began to print enormous amounts of U.S. dollars out of thin air.
He has also tweeted from time to time that he was buying more Bitcoin. In today’s tweet, he mentioned that and revealed that he had purchased five more Bitcoins, adding them to his stash. Five Bitcoins are evaluated at $231,291 at the time of this writing.
Besides, his purchase likely took place after the SEC announced its regulatory decision on spot-based Bitcoin exchange-traded funds: approval.
SEC greenlights spot Bitcoin ETFs
On Wednesday, the SEC finally signaled its approval of spot Bitcoin ETFs to multiple companies. There had been applications from 11 issuers on the SEC team’s table, including one from BlackRock, VanEck, Fidelity, Ark Invest and Grayscale.
While waiting for the decision, they had prepared to launch their spot ETFs based on Bitcoin soon and reduced their management fees on certain conditions to make their products attractive to customers.
A day before, SEC Chairman Gary Gensler announced that the SEC Twitter account had been compromised for less than one hour, thus dissolving the message posted by hackers that the ETF had been approved. The Bitcoin price first went up and then plunged. However, some in the Bitcoin community, including Anthony Scaramucci, did not believe Gensler, assuming that an SEC employee had just jumped the gun.