Kiyosaki predicts Bitcoin could reach $350K by 2025 with strong institutional interest.
BlackRock’s Bitcoin ETF raises concerns about price manipulation and market control.
Kiyosaki advises investors to hold Bitcoin themselves and not rely on institutional products.
Robert Kiyosaki has forecast that Bitcoin will reach $350,000 in 2025 after its recent successes and growing institutional uptake. The forecast has come against the backdrop of a highly beleaguered Bitcoin market, with immense criticism over its growing dominance by mammoth money movers like BlackRock amidst controversies on its Bitcoin ETF filing.
The price of Bitcoin boomed this year, but some analysts, like Kiyosaki, question the impact of institutions on the crypto market.
https://twitter.com/theRealKiyosaki/status/1872665122440704137
Bitcoin's value skyrocketed 130% this year, surging partly on budding institutional acceptance. Companies, including MicroStrategy and KULR Technology, have reportedly bought hundreds of Bitcoins this year, increasing their value.
Financial firms keep adding Bitcoin to their portfolios, which further increases demand. Therefore, more attention is being directed from Wall Street to this digital currency. Yet, the huge influence of these mega companies raises eyebrows of skepticism among several members of the Bitcoin community.
The new bone of contention is the BlackRock Bitcoin ETF, which recently witnessed a gigantic outflow of $188.7 million. This outflow is among the largest sell-offs recorded for Bitcoin in recent history and raises questions about investor sentiment and the potential for price manipulation.
Kiyosaki has voiced concerns that institutional players like BlackRock may use their power to control Bitcoin's price, suggesting that the ETF could influence the market for their benefit.
Kiyosaki is still confident about Bitcoin's prospects over the long term despite his institutional control concerns with the underlying technology. He has pressed very firmly for self-custody of Bitcoin, insisting that retail investors avoid financial products such as BlackRock's ETF for the asset.
Kiyosaki explained that Bitcoin in the hands of major institutions is highly risky; people need to be responsible for their money so it cannot be manipulated. With the continuous rise in the price of Bitcoin, increasing big-money participation from players like BlackRock presents new challenges that come with the market.
