Robert Kiyosaki, author of the best-selling personal finance book Rich Dad Poor Dad, has revealed that he is getting more BTC at current rates.
In a Saturday tweet, Kiyosaki claimed that the Securities and Exchange Commission (SEC) would “crush” most altcoins with its regulations, suggesting that he is only bullish on BTC at the moment. He said:
“I am very excited about bitcoin. Why? Because bitcoin is classified as a commodity like gold, silver and oil. Most crypto tokens are classified as a security and the SEC rules most of them. Will crush it. I’m buying more BTC.”
In an interview with CNBC in early October, SEC Chairman Gary Gensler reiterated his belief that bitcoin is a commodity While most other crypto tokens are securities. “The law is clear on this. I believe, based on the facts and circumstances, that most of these tokens are securities,” he said at the time.
In mid-December, the SEC also classified FTT, the native token of now-defunct cryptocurrency exchange FTX, as a security in the complaint. The move has fueled speculation as to whether other tokens on centralized exchanges are considered securities, and what it could mean for those platforms.
The agency noted that FTT was sold as an investment contract and trading on FTX benefited from an increase in demand, “such that any price increase in FTT would benefit holders of FTT equally and against their FTT holdings.” There will be benefits in direct proportion.” It said:
“The large allocation of tokens to FTX has encouraged the FTX management team to take steps to attract more users to the trading platform and, therefore, increase the demand and trading value of FTT tokens.”
Kiyosaki, a longtime Bitcoin advocate, said last month that those who own gold, silver, and BTC will get rich when the Federal Reserve, Treasury, and Wall Street pivot and print trillions of dollars. “Fake money savers will be the worst hit,” he said.
In the wake of the FTX collapse, he said that Bitcoin could drop as low as $10,000 As the dust from autumn settles. He said that the sell-off could send bitcoin down to $10,000-$12,000, but he would use this opportunity to stockpile more coins.
Rich Dad Poor Dad by Kiyosaki is a 1997 book on financial literacy, financial independence, and building wealth through investing in property, real estate investing, starting and owning a business, as well as increasing one’s financial intelligence. advocates the importance of It has been on the New York Times Best Seller list for more than six years.
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