Robert Kiyosaki, author of Rich Dad Poor Dad, believes that Bitcoin, gold and silver are on the verge of skyrocketing. He pointed out that if the Federal Reserve cuts interest rates at the next meeting, capital will flow to these physical assets and fiat currencies will collapse. He described fiat currencies such as the US dollar as "fake money", while assets such as Bitcoin are "physical assets" because they can fight inflation and protect wealth.
Author: W3C DAO; Vernacular blockchain. Ported by: Bosen Quantitative Consultant Xiao Sun (bosen0722)
Capital flows into safe-haven assets
Kiyosaki specifically mentioned that the growing national debt problem in the United States will force the government to continue printing money, which will eventually lead to inflation. He sees Bitcoin as an effective tool to combat this hyperinflation and predicts that the price of Bitcoin will easily exceed $10 million. He believes that as people lose confidence in the U.S. dollar, more capital will flow into safe-haven assets such as Bitcoin, gold and silver.
Institutions increase their Bitcoin holdings
Meanwhile, institutional investors' interest in Bitcoin continues to grow. MicroStrategy recently purchased 18,300 Bitcoins for $1.11 billion, bringing its total holdings to 244,800 Bitcoins, or 1% of all Bitcoins. This move is undoubtedly a shot in the arm for the crypto market, indicating that even during market volatility, institutions are still optimistic about Bitcoin's future potential.
Bitcoin ETF News
At the same time, the holdings of Bitcoin ETFs are also growing. In the second quarter of 2024, the holdings of Bitcoin ETFs by US institutions increased from 18.74% to 21.15%, which shows that despite the volatile market, institutions are still increasing their holdings against the market. In the past nine months, the holdings of Bitcoin ETFs have continued to rise, and even when the market entered a state of panic, this trend has not declined significantly.
Expansion of Bitcoin Ecosystem
The Bitcoin ecosystem is also expanding rapidly, especially with the rise of Layer 2 solutions such as Fractal Bitcoin and Stacks. Fractal Bitcoin is a Layer 2 extension project of Bitcoin that aims to increase the transaction speed of Bitcoin. Its total computing power has reached 38.1% of the Bitcoin network. Compared with the Bitcoin main network, Fractal Bitcoin's transaction confirmation time has increased by more than 20 times, attracting a large number of users and investors.
In addition, Stacks, as an established Layer2 project in the Bitcoin ecosystem, has recently significantly improved network performance through the Nakamoto upgrade, including a 60-fold increase in TPS, reduced block confirmation time, and the launch of decentralized anchor coin sBTC. These improvements further enhance the security of Stacks and give the Bitcoin ecosystem a favorable position in the Layer2 competition.
Summarize
With the large-scale increase in institutional holdings, the increase in Bitcoin ETF holdings, and the development of the Layer2 ecosystem, Bitcoin has not only become an important tool to fight inflation, but also promoted innovation in the entire crypto market. The continuous expansion of the Bitcoin ecosystem has made it the preferred asset for more and more investors and institutions amid the increasing uncertainty of the global economy.
What should ordinary people do?
[No investment and financial advice, the cryptocurrency world is risky, so be careful when investing! ]
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