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'Rich Dad Poor Dad' Author Ends Bitcoin vs Gold Debate

Robert Kiyosaki, author of Rich Dad Poor Dad, addressed the long-running Bitcoin vs. gold debate, urging investors to hold both assets. He continues advocating for Bitcoin, gold, and silver as the U.S. faces rising national debt and economic instability.

• Main Points:

  • No need to choose: Kiyosaki advises investors to hold both Bitcoin and gold, rather than debating which is better.

  • Support for Bitcoin and gold: He has advocated for holding Bitcoin, gold, and silver since 2020, citing concerns over U.S. monetary policies.

  • Rising U.S. debt: Kiyosaki warns about the growing national debt, now expanding by $1 trillion every 100 days.

  • Physical assets vs fiat: He encourages investors to ditch fiat money in favor of "real" money—Bitcoin, gold, and silver.

• Detailed Insights:

  • No need to choose: In a tweet, Kiyosaki questioned why investors argue about Bitcoin vs. gold, stating that both assets offer protection and should be part of a diversified portfolio.

  • Support for Bitcoin and gold: Since 2020, Kiyosaki has promoted Bitcoin, gold, and silver as safe-haven assets during times of economic instability, particularly as the U.S. prints more money.

  • Rising U.S. debt: Kiyosaki points to alarming levels of U.S. debt, growing at $1 trillion every 100 days, and warns that rising interest payments will further strain the economy.

  • Physical assets vs fiat: Amid bond market troubles, Kiyosaki urges investors to shift away from fiat currency and focus on accumulating Bitcoin, gold, and silver as safer, tangible assets.

Related: Bitcoin Valuation “Still Super Low,” Expert Eyes $300,000 to $600,000

Kiyosaki firmly believes that holding both Bitcoin and gold is essential for investors navigating today's economic challenges.

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US Bitcoin ETFs See Largest Single-Day Inflow Since July, Bitcoin Climbs Past $60,000

Bitcoin ETFs saw a massive $263 million inflow, the largest since late July, boosting Bitcoin past $60,000. Fidelity led the charge, with $102 million in new investments, signaling strong market recovery.

• Main Points:

  • Record ETF inflows: US Bitcoin ETFs saw $263 million in a single-day inflow on Friday, the biggest since July.

  • Fidelity leads: Fidelity’s Bitcoin fund received $102 million, contributing to a weekly gain of $218 million.

  • Bitcoin price surge: Bitcoin jumped 12% in a week, surpassing $60,000.

  • Fed rate decision: Anticipation of a potential Fed rate cut fuels positive market sentiment.

• Detailed Insights:

  • Record ETF inflows: On Friday, Bitcoin ETFs saw net inflows of $263 million, marking the strongest inflow since July 22. This surge coincided with Bitcoin’s price crossing $60,000, signaling renewed investor confidence.

  • Fidelity leads: Fidelity’s Bitcoin fund (FBTC) attracted $102 million in a single day, recovering from previous weeks of outflows. Other ETFs, including ARK Invest and Bitwise, also experienced positive inflows.

  • Bitcoin price surge: Bitcoin surged from $54,300 to $60,600 within the week, now stabilizing around $60,200. Ethereum also gained 8%, with other top crypto assets like Toncoin and Chainlink posting significant gains.

  • Fed rate decision: The market’s optimism is driven by expectations of a potential Federal Reserve rate cut, supported by a lower-than-expected inflation rate of 2.5%.

Related: Why Is Solana (SOL) Price Up Today?

Bitcoin’s price increase and strong ETF inflows highlight a positive market trend, with eyes on upcoming Federal Reserve decisions for further movement.

Bitcoin Regains Correlation with S&P 500 Ahead of FOMC Meeting

Bitcoin has regained its correlation with the S&P 500, driven by expectations of U.S. Federal Reserve rate cuts. Both markets are closely watching the upcoming FOMC meeting for signals on future price action.

• Main Points:

  • Bitcoin-S&P 500 correlation: Bitcoin's correlation with the stock market has returned, indicating renewed alignment with risk-on assets.

  • Rate cut expectations: Investors anticipate potential rate cuts at the upcoming FOMC meeting, which could boost both Bitcoin and stocks.

  • Miner reserves: Bitcoin miner balances have been declining, but any increase could signal the start of a new bull run.

  • Market outlook: The combination of rate cuts and Bitcoin miner activity may trigger another major market move.

• Detailed Insights:

  • Bitcoin-S&P 500 correlation: Bitcoin’s correlation with the S&P 500, which had weakened during June and July, rebounded in August. This relationship highlights Bitcoin’s status as a risk-on asset, similar to stocks.

  • Rate cut expectations: The Federal Reserve's upcoming meeting is expected to bring a sizeable rate cut, which would favor both Bitcoin and traditional markets. Analysts agree this could lead to bullish momentum across risk assets.

  • Miner reserves: Mining wallet balances are an important indicator of Bitcoin’s market behavior. Despite recent declines, a significant uptick in reserves could signal the start of the next bull run.

  • Market outlook: With the combination of rate cuts and potential shifts in miner reserves, Bitcoin may be poised for a major rally as Q4 approaches.

Related: Why Is XRP Price Up Today?

Investors should watch the FOMC decision and miner activity closely for signs of a potential breakout in the coming weeks.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results