Renowned author Robert Kiyosaki, best known for his influential book “Rich Dad Poor Dad,” recently made waves on social media platform X. He highlighted a significant move by Larry Fink, CEO of BlackRock, who reportedly dumped Bitcoin, sparking a myriad of reactions and discussions within the financial community. This move is noteworthy, especially given the broader context of criticisms directed at Fink and BlackRock by investor Vivek Ramaswamy. Ramaswamy accused them of embodying “Shareholder Capitalism,” a term he likens to Marxist ideologies, resonating with Klaus Schwab’s controversial philosophy of “owning nothing and being happy.”
Implications of BlackRock’s Bitcoin ETF Outflow
The financial community witnessed a significant event on December 25, when BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), experienced a massive outflow of $188.7 million. This marked one of the largest Bitcoin sell-offs in recent history, stirring up speculations and discussions among market analysts. The timing of this massive sell-off has fueled debates regarding its potential impact on Bitcoin’s market stability and investor confidence.
BTC To Hit $350K: Kiyosaki’s Bold Prediction
In his social media post, Kiyosaki didn’t just stop at critiquing BlackRock; he also shared his optimistic outlook on Bitcoin’s future. He expressed his commitment to personally holding Bitcoin, emphasizing his distrust in BlackRock’s management of the digital asset. Kiyosaki believes that BlackRock’s actions may be an attempt to suppress Bitcoin prices, enabling large investors to acquire it at a lower valuation, specifically under $100,000.
Despite these concerns, Kiyosaki remains steadfast in his bullish stance on Bitcoin. He confidently shared with his followers his intention to continue accumulating Bitcoin, predicting a remarkable rise to $350,000 by 2025. This forecast reflects his unwavering belief in Bitcoin’s potential as a dominant financial asset in the coming years.
A Bullish Outlook for Bitcoin’s Future
In 2024, Bitcoin has demonstrated strong performance, surging by nearly 130% and setting new all-time highs. The narrative within the cryptocurrency space has increasingly focused on institutional adoption, with major financial institutions and corporations taking a keen interest in crypto assets. The trend of incorporating Bitcoin into corporate treasuries, initiated by MicroStrategy in 2020, continues to gain momentum. Recently, KULR Technology made headlines by purchasing 217.18 BTC for $21 million and planning to allocate up to 90% of its surplus cash to Bitcoin investments.
Furthermore, Bitwise Asset Management has made strides by applying for an ETF aimed at tracking shares of companies holding substantial Bitcoin reserves, specifically those with at least 1,000 BTC in their treasuries. In parallel, Strive Asset Management, co-founded by Vivek Ramaswamy, has filed a second application for a Bitcoin Bond ETF. This innovative ETF seeks to provide exposure through derivative instruments, including MicroStrategy’s convertible securities, and will be actively managed to optimize returns.
These developments underscore the growing confidence in Bitcoin’s potential and solidify the bullish outlook for its future trajectory. As more companies and investment vehicles embrace Bitcoin, its role in the global financial landscape is poised to expand, offering exciting opportunities for both institutional and retail investors.
