Robert Kiyosaki on Bitcoin

Robert Kiyosaki, author of Rich Dad Poor Dad, recently shared his thoughts on X regarding Larry Fink’s decision to dump Bitcoin. He highlighted Vivek Ramaswamy’s criticism of Fink and BlackRock, labeling them as “Shareholder Capitalists” akin to Marxists, drawing parallels to Klaus Schwab’s ideology of “owning nothing and being happy.”

> Larry Fink dumping Bitcoin. VIVEK warned Larry Fink of BLACK ROCK is a Marxist. Vivek warned Fink & Black Rock are Share Holder Capitalist not Stake Holder Caplitist. Share Holder Capitalists are Marxist….like Klaus Schwab who state: “Someday you’ll own nothing and you’ll be…
> — Robert Kiyosaki (@theRealKiyosaki) December 27, 2024

Notably, on December 25, BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), experienced a significant outflow of $188.7 million, marking one of the largest Bitcoin dumps in history, stirring market speculations.

BTC To Hit $350K

In the same post, Kiyosaki expressed optimism about Bitcoin, revealing his preference for holding it personally rather than through BlackRock’s ETF. He accused BlackRock of suppressing Bitcoin’s price to allow large investors to acquire it below $100k. Despite this, Kiyosaki is bullish on Bitcoin and plans to continue buying more, predicting a rise to $350,000 by 2025.

Bullish Outlook

Bitcoin has surged nearly 130% this year, reaching record highs multiple times. The prevailing narrative for 2024 emphasizes institutional adoption, with increased interest from major financial entities and corporations in the cryptocurrency market. Several publicly traded companies are now planning to add Bitcoin to their treasury as well.

This trend, initiated by MicroStrategy in 2020, has recently seen KULR Technology (KULR) purchase 217.18 BTC for $21 million, allocating up to 90% of surplus cash to Bitcoin.

Additionally, Bitwise Asset Management has applied for an ETF tracking companies that hold at least 1,000 BTC in reserves. Strive Asset Management, co-founded by Vivek Ramaswamy, filed a second application for a Bitcoin Bond ETF aimed at gaining exposure through derivative instruments, including MicroStrategy’s convertible securities. These developments bolster a positive outlook for Bitcoin.