Microstrategy’s executive chairman, Michael Saylor, has explained why bitcoin has become “the world’s most popular investment asset.” He noted that following the rebalancing after the launch of spot bitcoin exchange-traded funds (ETFs), the crypto has “found its footing and now people are beginning to realize that there’s 10 times as much demand for bitcoin coming […]
Bitcoin News
Study: BTC Is the Most Popular Crypto Asset, Crypto Exchanges Among the Least Trusted Service Providers
The data from the latest Coinover study suggests that 17% of the participants own cryptocurrency and 30% plan to do so in the coming year. About 50% of those interviewed said they were positive about their financial earnings, while 20% expressed dissatisfaction with the returns.
More Than Half of the Respondents Are Crypto-Curious
According to a survey study conducted by the blockchain security firm Coinover, about 17% of the more than 16,000 study participants said they own cryptocurrencies, while at least 30% said they are likely to invest in cryptocurrencies in the next 12 months. The data also suggest that the majority of the respondents, 46%, see bitcoin as the most popular crypto asset. Non-fungible tokens (NFTs) are ranked second with 18%, while ethereum is a distant third with 17%.
When asked about their attitude and curiosity towards cryptocurrencies, the study data suggests that as much as 55% of the respondents are crypto-curious. Only 11% said they are active in the cryptocurrency market. Meanwhile, 50% of those interviewed said they were positive about their financial earnings but 20% were dissatisfied with the returns.
Remarking on the study findings, David Janczewski, CEO and co-founder at Coincover, said:
“Crypto’s potential is huge, but our research makes clear that the industry must take steps to address consumer concerns. Many still perceive cryptocurrency as a mysterious technology and the industry must show that it is doing everything it can to protect investors, build consumer confidence, and provide stronger foundations for the future.”
However, despite portraying what would appear to be a positive disposition towards crypto among the respondents, the study also found that 19% of those interviewed are cynical about crypto and another 25% “are closed to cryptocurrencies entirely.”
Turning to trust issues, the study found that as many as 30% of non-crypto users have zero trust in centralized crypto exchanges. When asked about their technology concerns, 30% of the respondents said they were worried about crypto. Concerning the respondents’ perception of crypto, the study report said that many more see crypto as an enabler of financial fraud than a privacy tool.
What are your thoughts on this study’s findings? Let us know what you think in the comments section below.
Mining Digital Gold — These Are the Most Profitable Proof-of-Work Algorithms in 2024
In September 2022, Bitcoin’s SHA256 algorithm ranked as the seventh most lucrative proof-of-work (PoW) network for mining. Fast forward a year and four months, and this algorithm has ascended to become the third most profitable crypto network for mining operations.
2022 to 2024 Sees Significant Shifts in Crypto Mining Profitability
As of January 2024, the ranking of the most profitable crypto networks for mining has evolved from what it was in 2022. Back in September 2022, Kadena stood at the forefront as the leading mineable proof-of-work (PoW) algorithm, enabling miners to extract kadena (KDA). However, today, the top spot for the most lucrative PoW network for mining is held by kaspa (KAS), which utilizes the Kheavyhash algorithm.
On Sunday, Jan. 21, mining with 9.2 terahash per second (TH/s) of Kheavyhash hashpower is reported to yield roughly per day, based on current data from asicminervalue.com. This includes the daily electricity expense rate of .12 per kilowatt hour (kWh). Currently, Bitcoin’s SHA256 occupies the second spot in terms of profitability, yet the recent surge in grin (GRIN) values has elevated the Cuckatoo32 algorithm in terms of earnings.
Operating under the same electrical cost of .12 per kWh, a miner with a capacity of 36 graphs per second (GPS) can achieve a daily profit of .29 mining GRIN. Following closely is the SHA256 algorithm of Bitcoin, where machines with hashpower ranging from 335 to 390 terahash per second (TH/s) could yield daily earnings of .60 to .52, assuming an electricity rate of .12 per kWh. The leading producers of these high hashrate-producing devices are Bitmain and Microbt.
In 2024, the next two most profitable mining algorithms are Ethash and Blake2B-Sia. Ethash is linked with cryptocurrencies such as ethereum classic (ETC), while miners capable of handling Blake2B-Sia can extract siacoin (SC) and scprime (SCP). An Ethash hashrate of nearly 6 gigahash per second (GH/s) is estimated to yield around .40 daily, whereas 17 terahash per second (TH/s) of Blake2B-Sia mining power can generate about .27 each day, factoring in electricity costs of .12 per kilowatt hour (kWh).
Following Blake2B-Sia in the profitability ranking are the algorithms X11 and Kadena. X11 mineable currencies, including dash (DASH) and cannabiscoin (CANN), can yield a decent return with the right hashrate. Specifically, nearly 2 terahash per second (TH/s) of X11 hashrate is estimated to generate about .57 daily. As previously mentioned, the Kadena algorithm has dropped in the ranking, but a substantial 177 TH/s of Kadena hashrate can still produce an estimated .47 per day.
Interestingly, the profitability of Scrypt mining has diminished compared to its peak in September 2022. Scrypt, which mines litecoin (LTC) and dogecoin (DOGE), was the second most profitable consensus algorithm at that time. Today, Scrypt mining ranks as the 12th most profitable algorithm, trailing behind others such as Handshake, 2, Randomx, and Cryptonightr. Ethash previously held a dominant position in mining algorithms before the Ethereum upgrade, known as The Merge, which occurred on Sept. 15, 2022. Since that pivotal event, its profitability has been relatively lackluster.
What do you think about the top mineable consensus algorithms? Let us know what you think about this subject in the comments section below.
Here Are The Most Bullish Predictions For ETH Price As Ethereum Dominance Rises Against Bitcoin
The sentiments around Ethereum look to be very bullish at the moment as the second-largest crypto token by market cap has seen its dominance surge against Bitcoin. Ethereum’s rise against the flagship crypto token is also significant, as crypto analyst Jaydee recently suggested that it could usher in the altcoin season.
Bullish Predictions For Ethereum’s Price
Crypto analyst Ali Martinez recently highlighted the fact that Ethereum broke out from an ascending triangle on the weekly chart. According to him, the crypto token has its eyes on the ,400 price level despite the short-term volatility. Backing Ali’s analysis, crypto analyst Mayne shared their belief that ,400 remains a viable target for ETH’s price.
Interestingly, Mayne hinted that “ETH betas” could run alongside ETH when this significant price surge begins to happen. These ETH betas include tokens like the native tokens of Ethereum’s layer-2 networks Optimism and Arbitrum.
Crypto analyst Ash Crypto also offered a bullish prediction for ETH’s price while commenting on the state of the market. He remarked that money was currently flowing from Bitcoin to Ethereum and that it shouldn’t be long before the latter trades above ,200.
ETH trading above the ,000 price level looks to be the consensus going by these predictions. The CEO and founder of MN Trading, Michaël van de Poppe, had before now suggested that ETH was also going to rise above ,000 on its way to ,500. Then, Poppe boldly claimed that this price prediction would materialize in the first quarter of 2024.
Meanwhile, crypto analyst ColdBloodedShill stated in a recent X post that ETH is likely planning for higher prices as long as it remains above ,400. The ,400 price range looks to be an important support level as ETH looks to break out. Crypto analyst Bluntz Capital also highlighted that price range (,495 specifically) as he noted that there will be an eventual breakout as long as ETH holds above that level.
Conviction On Ethereum Getting Stronger
Market intelligence platform Santiment recently revealed that the number of new ETH addresses is on the rise as Ethereum continues to outperform Bitcoin. 89.4 thousand addresses are said to have been created daily during this stretch. This represents a significant increase from late last year, when 70.4 addresses were created daily in early November.
Santiment also added that ETH’s supply on exchanges had reduced drastically to 8.10%, almost getting close to its all-time low (since the opening week of trading) of 8.05%. Such a development usually suggests that ETH holders are looking to hold for the long term as they move their holdings to self-custody.
These Altcoins Are Showing Most Bullish & Bearish Divergences: Santiment
The analytics firm Santiment has revealed the list of altcoins that are showing the greatest bullish and bearish divergences currently.
RSI Reveals These Altcoins To Contain The Most Extreme Values Right Now
In a new post on X, Santiment has discussed some altcoins that are showing overvalued or undervalued conditions based on the Relative Strength Index (RSI) currently.
The RSI refers to a momentum metric in technical analysis that tracks the speed and magnitude of recent changes happening in the price of any given asset. This measurement can be made over any period, but in the context of the current topic, the 1-day RSI is of relevance.
Generally, a high value of this indicator can be a sign that the asset is overheated right now and may be at risk of forming a top. More specifically, the 70 mark is chosen as the cutoff for when the probability of a bearish reversal becomes significant.
On the other hand, the RSI being 30 or lower can imply the price is under its fair value at the moment, and as such, a potential reversal to the upside could be brewing for the asset.
Now, here is the chart shared by the analytics firm that shows the trend in the 1-day RSI for a few different altcoins from the top 150 market cap list over the past year:
As displayed in the above graph, the 1-day RSI has been at high levels for Maker (MKR), Venus (vBNB), and Sei (SEI) recently. To be more specific, the metric has a value of 74.6, 72.4, and 75 for vBNB, SEI, and MKR, respectively.
Clearly, these RSI levels are in the zone typically associated with an overheated market. Maker has recently enjoyed a sharp rally, observing gains of over 30% during the past couple of weeks. If this metric is anything to go by, though, the asset’s strong run may be approaching an end.
On the other end of the spectrum are the altcoins Elrond (ELGD), Arweave (AR), and Bonk (BONK), which are observing low levels of 1-day RSI. ELGD and AR are inside the underpriced zone with the metric sitting at 22.6 and 29, while the Solana-based memecoin BONK is floating just over the area with a value of 31.
According to Santiment, all six of these coins have also separated from the rest of the altcoins cohort, implying a bearish/bullish (depending on whether overvalued or undervalued) divergence could be forming for them.
As such, coins like BONK observing a bullish divergence may be likely to see some price rise, so that they can catch up with the other alts. Similarly, MKR and others may see a correction to be more in line with the rest of the market.
BONK Price
Bonk has had a bad time these last few weeks, as its price has been following an overall downward trajectory. The coin may finally be starting to turn itself around, however, as its price has shot up over 22% in the past 24 hours.
Euro at 25: ECB President Christine Lagarde Calls Euro the ‘World’s Second Most Important Currency’
The president of the European Central Bank Christine Lagarde and fellow European Union leaders recently hailed the euro for its role in giving the bloc “greater sovereignty in a turbulent world.” The EU leaders added, however, that more still needs to be done if the bloc and the currency are to emerge from the present-day challenges unscathed.
‘World’s Second-Most Important Currency’
According to Christine Lagarde, the president of the European Central Bank, the euro has given the European Union (EU) “greater sovereignty in a turbulent world” since its issuance twenty-five years ago. In a joint statement to mark the currency’s 25th anniversary, Lagarde claimed that the euro has made “life simpler” for European citizens and protected growth and jobs.
Launched on January 1, 1999, the EU currency project initially started with 11 countries participating, but this number has since grown to 20 countries. Despite the euro’s emergence as the “world’s second most important currency,” Lagarde and other EU leaders still acknowledged that it has seen its fair share of challenges.
During what was one of the euro’s worst periods, the currency, which commenced trading with an exchange rate of €1:.17, nearly reached parity with the greenback in October 2023. It has however recovered and was trading around €1:.11 at the time of writing (10.00 PM GMT).
Bringing the Euro Into the Digital Age
Commending the steps taken by the bloc to ensure the euro’s survival in an era dominated by sovereign debt crises, Lagarde and her colleagues said:
In response to the global financial crisis and sovereign debt crisis, for example, we established safeguards like the harmonised system of banking supervision and resolution or the European Stability Mechanism. Today, support for the single currency among euro-area citizens is close to record levels.
The EU leaders added, however, that more still needs to be done if the bloc and the currency are to emerge from the present-day challenges unscathed. Overcoming these challenges, which include rising geopolitical tensions, will require the EU to prioritize issues like defence, green, and digital transitions, the joint statement said.
Lagarde and her colleagues suggest that prioritizing such issues potentially includes bringing the single currency itself into the digital age. This will likely be done by setting the foundations for a digital euro that complements cash.
What are your thoughts on this story? Let us know what you think in the comments section below.
Bitcoin Grabs 14th Spot As World’s Most Valued Currency, Latest Data Show
In a groundbreaking financial shift, Bitcoin, the world’s original and deeply capitalized cryptocurrency, has swiftly climbed the ranks, securing its place among the top 15 largest currencies globally. Bold, a Bitcoin credit card company, revealed this remarkable feat in December, emphasizing Bitcoin’s uniqueness as the sole crypto in the top 20 currencies of sovereign central banks.
Examining the data provided by CEIC and CoinGecko paints a vivid picture of Bitcoin’s extraordinary ascent. On the pivotal date of November 19, Bitcoin’s market capitalization soared to over 5 billion, solidifying its position among the global financial giants.
Bitcoin’s Meteoric Rise: Overtaking Global Currencies
This milestone not only marked a significant leap forward for Bitcoin but also propelled it past India’s rupee, which stood at a little over 3 billion in November.
The narrative of Bitcoin’s triumph doesn’t stop there. Surpassing national currencies with ease, Bitcoin continued its meteoric rise, outshining even the venerable Swiss Franc.
By achieving a staggering market capitalization of 0 billion, Bitcoin showcased not only its financial prowess but also its resilience in a landscape often defined by volatility.
Bold’s list places Bitcoin just behind South Korea’s Won, boasting a market cap of 3 billion. FiatMarketCap, however, positions Bitcoin as the 16th largest currency by market cap when considering all currencies in the list.
#Bitcoin is the 14th largest currency in the world. pic.twitter.com/PvKqvYAtjx
— Bold Bitcoin (@BoldBitcoin) December 20, 2023
The month of December witnessed a palpable surge in Bitcoin’s value, propelled by the heightened anticipation surrounding spot ETFs. This burgeoning excitement not only elevated Bitcoin’s market standing but also facilitated a noteworthy milestone.
During this period of heightened anticipation, Bitcoin, with unwavering momentum, not only surpassed the valuation of the Swiss Franc but went a step further, closing in on the esteemed South Korean Won.
The strategic alignment of market forces, coupled with growing investor confidence, played a pivotal role in this achievement, showcasing Bitcoin’s resilience and adaptability in responding to evolving market conditions.
At the current trading price of ,427, Bitcoin experienced a slight dip of 0.7% and 1.1% in the last 24 hours and seven days, respectively, according to Coingecko’s data.
Bitcoin: Challenging Global Currency Norms
A fascinating perspective emerges when considering Bitcoin’s potential. If its price were to reach over 9, it would exceed the US dollar’s money supply of trillion, establishing itself as the largest global currency.
The debate over whether cryptocurrencies are true currencies remains active. The American Association for the Advancement of Science, in a research article published on December 22, suggests that while digital currencies are a significant development, they have yet to serve widely as a medium of exchange.
Contrastingly, a Geopolitical Monitor article on November 10 sees potential in Bitcoin becoming a major reserve currency, influencing the global monetary order.
‘Explosive’ Future For The King Coin
Looking ahead, 2024 appears to be a “very explosive” year for Bitcoin, with expectations of ETFs, legislative developments, and regulatory shifts. Brandon Zemp, CEO of BlockHash LLC, anticipates growth in the crypto industry, emphasizing its cyclical nature and the resilience demonstrated despite challenges in previous years.
Encouragingly, the crypto industry is firmly established, with a continuous purge of malicious actors enhancing awareness for improved practices and safeguards. Anticipating a forthcoming bull market, there is optimism that this phase might exhibit greater stability and longevity, primarily attributed to the systematic elimination of undesirable elements from the industry, as highlighted by Zemp.
“The good news is that crypto is here to stay and bad actors are constantly being flushed out of the market,” he said.
Featured image from Shutterstock
2023 in Review: The Year’s Most Impactful Crypto News Stories and Economic Trends
2023 proved to be an extraordinary year for bitcoin and the broader crypto economy, surging significantly in value once the dust settled from the FTX debacle and as major players such as Blackrock and Franklin Templeton lodged applications for spot bitcoin exchange-traded funds (ETFs). Alongside the ever-changing crypto markets, the global economy commanded attention with the BRICS countries taking bold steps and economists sounding alarms about a looming economic crisis.
2023 has been a year full of developments, and as it draws to an end, it’s beneficial to look back on the myriad of events that unfolded in the last 12 months. Here’s an overview of some of Bitcoin.com News’ most popular articles, ranked by the traffic they attracted throughout the year.
The Top 5 Most Read Bitcoin.com News Stories in 2023
US-Saudi Tensions Escalate as Report Says Crown Prince Is No Longer Interested in Pleasing the United States
In 2023, Saudi Arabia and the Organization of the Petroleum Exporting Countries’ (OPEC) unexpected oil production cuts marked a significant shift away from U.S. policy preferences, with Saudi Crown Prince Mohammed bin Salman openly disinterested in appeasing the U.S. This move coincided with broader global realignments, including BRICS nations reassessing economic ties and Saudi Arabia considering trade in currencies other than the U.S. dollar.
Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status
Monica Crowley, a former official at the U.S. Treasury, starkly warned of the grave, far-reaching repercussions if the U.S. dollar ceases to be the world’s reserve currency, including a potential economic implosion and the loss of American superpower status. She underscored the dollar’s pivotal role since World War II and its critical linkage to oil trade, noting that recent geopolitical tensions and policy missteps have significantly risked this position.
Economist Peter Schiff Advises ‘Get Rid of Your US Dollars Now’ — Warns USD’s Reserve Currency Status in Jeopardy
Economist Peter Schiff has advised against holding U.S. dollars, citing the escalating global shift away from USD reliance, especially by nations in the Middle East and Southeast Asia. Asserting the U.S. dollar’s reserve status and that American living standards are at risk, Schiff recommends divesting from the dollar and related financial assets. His warnings point to an imminent economic disaster and devaluation, suggesting an urgent move away from the dollar to mitigate personal financial loss amidst the potential for hyperinflation and economic upheaval.
Economist Warns of ‘Catastrophic’ Fall in American Living Standard — Elon Musk Weighs in on De-Dollarization, US Dollar Weaponization
Economist Peter St Onge issued a stark warning about rapid de-dollarization and the consequences of the U.S. leveraging the dollar as a political tool, predicting severe inflation, a plummet in American living standards, and a diminished global role for the U.S. Citing the dramatic decline in dollar’s reserve currency status and the fallout from recent sanctions, St Onge notes the accelerated shift away from the dollar in global markets. Tesla and Twitter CEO Elon Musk echoed these sentiments, suggesting that continued currency weaponization will lead nations to abandon the dollar.
Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’
Elon Musk highlighted a significant incentive for individuals and companies to shift funds from banks to Treasury Bills, citing the large interest rate disparity created by the U.S. Treasury and the Federal Reserve. He warns that this realization could lead to a rapid withdrawal of deposits, even from large banks traditionally considered fail-safe. The issue underscores broader concerns about the U.S. banking system’s stability amid recent crises, with several banks failing and others potentially at risk in a continuing cycle of instability.
Notable 2023 Stories
Blackrock Files for Bitcoin Trust — Analyst Calls It a ‘Real Deal’ Spot Bitcoin ETF Filing
Blackrock, the world’s leading asset manager, has initiated a move to launch a spot bitcoin exchange-traded fund (ETF) amidst the U.S. Securities and Exchange Commission’s (SEC) crackdown on unregistered crypto platforms. Despite the SEC’s stringent stance and recent charges against Coinbase for securities law violations, Blackrock has appointed the Nasdaq-listed company as the custodian for its trust. The move has sparked a mix of optimism and skepticism within the crypto community, with some viewing it as a bullish signal for cryptocurrencies and others cautious of its implications.
DC Circuit Court of Appeals Chastises SEC for Grayscale Denial
On August 29, 2023, the U.S. Court of Appeals for the District of Columbia Circuit unanimously overturned the SEC’s rejection of Grayscale’s Bitcoin Exchange Traded Product, criticizing the SEC for arbitrary and inconsistent decisions compared to similar cases. The court’s decision emphasized Grayscale’s ETP’s substantial similarity to previously approved bitcoin futures ETPs, highlighting the need for consistent and predictable regulatory actions. Now, Grayscale awaits the SEC’s next move, which could include an appeal or a reassessment of the application, marking a significant moment in the ongoing dialogue between cryptocurrency ventures and regulatory bodies.
US Judge Rules XRP ‘Not Necessarily a Security on Its Face,’ Sending XRP Supporters Into Celebration
U.S. Judge Analisa Torres recently ruled that the cryptocurrency XRP cannot definitively be classified as a security, specifically in relation to its “programmatic sales,” though institutional sales may differ. This nuanced decision partially granted and denied motions from both the SEC and Ripple Labs, reflecting the ongoing debate and complexity in determining the legal status of cryptocurrencies. The ruling recognized the distinct nature of XRP’s institutional and programmatic sales. However, the case remains open, with further proceedings expected to address unresolved issues around XRP’s classification as a security.
Robert Kiyosaki Expects Bitcoin to ‘Become Priceless’ When the Fed Launches Central Bank Digital Currency
“Rich Dad Poor Dad” author Robert Kiyosaki has expressed concerns over the potential launch of a central bank digital currency (CBDC) by the Federal Reserve, warning that it could lead to the end of privacy and an era of increased surveillance. He predicts that in such a scenario, assets like bitcoin will become invaluable. Urging investors to accumulate bitcoin, gold, silver, and cash now, Kiyosaki’s cautionary stance is echoed by various U.S. lawmakers who are actively opposing the development of a CBDC, citing it as a threat to the American way of life. Despite these concerns, Federal Reserve Chairman Jerome Powell has indicated that the decision to issue a CBDC is still far off, with extensive research and consideration required.
Ethereum Co-Founder Vitalik Buterin’s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet
On March 7, Vitalik Buterin, co-founder of Ethereum, reportedly sold a substantial amount of various airdropped ERC20 tokens from his address, leading to a significant market reaction. The sell-off included billions and trillions of relatively obscure tokens, causing their values to plummet due to the shallow market liquidity. The move sparked debates within the crypto community regarding the motives behind such large-scale disposals, with some speculating tax compliance as a reason and others criticizing the impact on token prices.
2024 and the Path Forward
Overall, 2023 proved to be a transformative year for the cryptocurrency landscape and global economy. From shifting alliances among nations to warnings of economic upheaval, the year’s headlines reflected the dynamic nature of these markets. As we bid farewell to this eventful year, the lessons learned and challenges faced will undoubtedly shape the path forward for bitcoin and the broader crypto economy in the years to come.
In 2024, a great deal of crypto enthusiasts predict a bullish trend, fueled by widespread acceptance via spot bitcoin ETFs and the tokenization of tangible assets. Optimistic shifts in the broader economic landscape, particularly anticipated cuts in interest rates, are likely to enhance market morale, benefiting BTC and the broader crypto economy. It is believed that a blend of blockchain innovations and promising liquidity scenarios primes the coming year to be a potentially rewarding trip around the sun for crypto proponents.
What do you think about the hottest Bitcoin.com News stories in 2023? Share your thoughts and opinions about this subject in the comments section below.
Rich Dad Poor Dad Author Robert Kiyosaki Shares How He Made Most of His Money
The famous author of Rich Dad Poor Dad, Robert Kiyosaki, has shared how he made most of his money. He stressed that the future of stock and bond markets will depend on startups in resources, not Silicon Valley technology startups, predicting that resources will be “the coming boom in the investment world.”
How Robert Kiyosaki Made Most of His Money
Rich Dad Poor Dad author Robert Kiyosaki has revealed on social media platform X how he made most of his money. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
The renowned author shared on Dec. 24 that the Vancouver Resource Investment Conference (VRIC) is coming up on Jan. 20-21, where he will be one of the keynote speakers, as per the event’s website. Explaining why he believes this event is the “most important investor conference for 2024,” Kiyosaki emphasized:
The future of stocks & bond markets will depend on startups in resources, not Silicon Valley technology startups. I have made most of my money in resources, not tech.
“I got my start as a startup at the VRIC 25 years ago,” he further revealed, adding: “I will be there. I invite you to join me at the VRIC, be part of the coming boom in the investment world, resources.”
The Vancouver Resource Investment Conference is organized by Cambridge House International, which specializes in organizing and promoting investment conferences for the resource sector. Cambridge House CEO and the host of the VRIC, Jay Martin, explained that over 300 junior mining companies will gather at the event “to showcase exploration and production of the most critical commodities the world needs to move forward in the 21st century.” He opined: “We are entering a new era of de-globalization. The trust that allowed for global trade over the last 30 years has shifted irreversibly … Demand for key resources will skyrocket.”
Kiyosaki described in an interview with Stockpulse at the VRIC last year: “This is where real money is made.” He detailed at the time: “I was one of these junior miners standing out there … and I learned more here than I ever did anything myself about entrepreneurship, business, international trade, global trade.”
The Rich Dad Poor Dad author advised: “If you are a young person, you keep learning, keep learning by real-life experience.” He stressed, “Don’t listen to fake teachers,” highlighting that college courses rely on textbooks, lacking the real-life experiences shared by miners at the conference. However, he cautioned that gold mining is a “tough business” and carries “higher risk.”
Noting that investors can look for valuable commodities at the conference, he emphasized:
The world runs on resources.
At the time, Kiyosaki said he was looking for three things at the conference: gold, silver, and copper. “I don’t own any copper. I own a lot of silver. I found a silver mine in Argentina and Yamana Gold [Canadian mining company] bought it from me,” he shared, adding that he took Trixie Mine in Utah public in July this year. “So, watch what I do, not what I say,” he recommended, pointing out: “I do own tons of gold and silver.”
The renowned author has consistently endorsed gold and silver as sound investments. Additionally, he advocates for bitcoin, asserting that these three assets are the best investments for unstable times. In November, he advised investors to buy bitcoin now before it’s too late. Furthermore, he previously disclosed the reasons behind his ongoing BTC purchases.
What do you think about Robert Kiyosaki’s advice and explanation of how he made most of his money? Let us know in the comments section below.
Santiment Breaks Down “Most Trending” Altcoins Of Past Week
Here are the various altcoins that Santiment has identified to have been the most trending cryptocurrencies of the past week.
Altcoins Like BONK Or SOL Saw Most Traction In Past Week
In a new insight post, the on-chain analytics firm Santiment has discussed about some alts that have taken focus during the last week. Based on social media data, Santiment determines tokens to be “trending” if they have been receiving significant attention in the past 24 hours.
The below chart shows the top altcoins for each day in the past week on the basis of this metric:
From the graph, it’s visible that the Solana-based meme coin BONK has pretty much observed the highest amount of traction on social media platforms during this period.
The main reason behind the dog-themed coin being so trendy has been its listings on the two largest cryptocurrency exchanges in the sector, Coinbase and Binance.
Injective Protocol (INJ) has been another asset that has consistently appeared on the Trending Tokens list. Santiment explains that the source of the altcoin’s popularity lies in its rally and hype for an upcoming airdrop.
Solana (SOL), the sixth-largest cryptocurrency by market cap, has also been discussed by social media users. “Between December 11 and 17, SOL climbed the ranks, attributed to several high-profile projects and partnerships,” notes the analytics firm.
“The ecosystem’s growth and its challenge to Ethereum’s dominance in Web3 were hot topics among traders and enthusiasts,” adds Santiment. Solana has also enjoyed some sharp uptrend in the past day, as the asset has shot up around 11% during the period.
Unsurprisingly, Internet Computer (ICP) has also gained steam during the last week, as the asset has surged more than 73%. Since its high above .5, though, the altcoin has registered some significant decline, as it’s now trading around .75.
“In summary, this week spotlighted the power of market catalysts — from exchange listings to pivotal updates — and their profound impact on project sentiments and trading activities,” says the analytics firm.
BONK’s Exchange Listing Hype Has Observed Some Cooldown
Soon after the meme coin received its listings on the aforementioned platforms, the BONK price shot up towards a new all-time high north of the .0000349 level. This extraordinary surge proved to be unsustainable, however, as profit-taking quickly ramped up and the altcoin fell back down.
BONK has since registered a very significant drop to the .0000206 mark. Here is a chart that shows how the meme coin’s performance has looked like in the past month:
Despite this drawdown of 41% from the top, though, BONK is still up more than 56% in the past week, which is an impressive return nonetheless. Overall in the past month, the meme coin is carrying profits of 617%, showcasing just how strong the coin’s recent rise has been.