Rich Dad Poor Dad author Robert Kiyosaki has urged investors to ditch the U.S. dollar and buy bitcoin alongside gold and silver. He warned that “baby boomers’ retirements are going broke as paper assets crash.” The famous author stressed: “I do not trust anything that can be printed.” Robert Kiyosaki’s Latest Warnings and Advice The […]
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Robert Kiyosaki Warns Biggest Bubble in History Will Wipe Out Boomers — Advises Buying ‘Real Assets’ Like Bitcoin
Rich Dad Poor Dad author Robert Kiyosaki has warned that the biggest bubble in history will wipe out baby boomers, emphasizing that the stock market is set to crash. “Time to get real is now,” he stressed, urging investors to buy “real assets” like gold, silver, and bitcoin “before the biggest bubble in history goes […]
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Boomers Interested In Bitcoin, Market Won’t Allow BlackRock To Buy BTC Below $60k
As institutional interest in Bitcoin grows, Fidelity and BlackRock’s proposed spot Bitcoin Exchange-Traded Fund (ETF) faces an unexpected hurdle: the crypto market’s unwillingness to let go of the coin at bargain prices.
Bitcoin To ,000 In Progress?
According to Mike Alfred, who claims to be a value investor and a board director, the market will “unlikely” allow BlackRock to purchase BTC below ,000. Taking to X on December 4, Alfred said BlackRock and other Wall Street players keen on issuing spot Bitcoin ETFs would have to “buy for Boomer’s 401k plans for at least ,000.”
This preview stems from the rapidly growing demand among institutional investors, as seen by the number of Wall Street players willing to issue complex derivatives tailored for, among other investors, “baby boomers,” most of whom are “approaching retirement.” With their substantial retirement savings, baby boomers increasingly recognize BTC’s potential as a hedge against inflation and a store of value.
Following Federal Reserve intervention during the COVID-19 pandemic, inflation rose to multi-year levels in 2021. To preserve purchasing power, the central bank began hiking interest rates. Although inflation has fallen and the economy stabilized, it remains higher than the target of 2%. The Fed continues to track this metric and may further intervene by raising rates to lower inflation. This might impact Bitcoin prices, as seen in the past months.
Nonetheless, the potential influx of boomer money into Bitcoin via a Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approved derivatives product is a big boost for the coin. Though the SEC has yet to authorize multiple spot Bitcoin ETFs, the crypto and Bitcoin market expects the strict regulator to greenlight the first product in the next few weeks.
BlackRock And Company To Buy BTC At A Premium
Accordingly, ahead of this milestone development for the Bitcoin and crypto market, Alfred thinks BlackRock, Fidelity, and other players won’t secure Bitcoin at spot rates. Instead, the market anticipates that BlackRock, one of the world’s largest digital asset managers, will make their “bi-weekly purchases at prices above ,000.”
The coin is trading at April 2022 levels, ripping above ,000 over the weekend as bulls step up. Looking at the BTC candlestick arrangement on the daily chart, the first clear resistance is around ,000.
The coin trades within a bullish breakout formation following gains above ,000. As buyers step up and investors anticipate the SEC approving the first batch of spot Bitcoin ETFs, the coin will likely continue increasing toward all-time highs of around ,000.
Surprise! Millennials Embrace Bitcoin While Boomers, Gen-Xers Hold Traditional Wealth
A recent report from Charles Schwab indicates that Millennials are embracing bitcoin a trend that plays into a larger narrative of Americas generational wealth gap.nThe post Surprise! Millennials Embrace Bitcoin While Boomers, Gen-Xers Hold Traditional Wealth appeared first on Bitcoin Magazine.n
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