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Robert Kiyosaki's Strategic Bitcoin Investments

Renowned author Robert Kiyosaki continues to invest in Bitcoin, viewing it as a "rules-based money" compared to government fiat. He emphasizes Bitcoin's potential to increase wealth and critiques Bitcoin ETFs as "fake."

• Main Points:

  • Initial Bitcoin Purchase: Kiyosaki bought 60 Bitcoins at $6,000 each.

  • Monthly Investments: He continues to buy Bitcoin monthly.

  • Rules-Based Money: He contrasts Bitcoin with fiat money, calling the latter "debt-based."

  • Banana Zone Concept: Kiyosaki discusses Bitcoin's potential price surge.

  • Critique of Bitcoin ETFs: He criticizes ETFs, advocating for real asset ownership.

• Detailed Insights:

  • Initial Bitcoin Purchase: Robert Kiyosaki purchased 60 Bitcoins at $6,000 each, driven by the encouragement of Raoul Pal, a former Goldman Sachs executive. Today, these Bitcoins are valued at around $60,000.

  • Monthly Investments: Kiyosaki is committed to expanding his Bitcoin holdings every month. His investment philosophy is rooted in the belief that Bitcoin, as "rules-based money," is a sound way to increase wealth.

  • Rules-Based vs. Debt-Based Money: Kiyosaki emphasizes the distinction between Bitcoin and government fiat money. He describes fiat money as "debt-based," which he argues diminishes wealth, whereas Bitcoin's rules-based nature promotes wealth growth.

  • Banana Zone Concept: Kiyosaki referenced the "Banana Zone," a term by Raoul Pal, which describes a significant rise in Bitcoin's value. This phase creates reactions of regret for not buying more Bitcoin earlier.

    Critique of Bitcoin ETFs: Kiyosaki strongly criticizes them, labeling them "fake." He extends this critique to all ETFs, including those for gold and silver, arguing that they do not provide the same security and value as owning the actual assets.

  • Advocacy for Real Asset Ownership: Kiyosaki believes that real assets, such as physical gold, silver, and Bitcoin, offer true value and security. He stresses that ETFs can be manipulated and diluted, failing to offer the protection that real assets do.

  • Investment Strategy: Following Warren Buffett's strategy, Kiyosaki waits for Bitcoin prices to drop before buying more. He predicts Bitcoin will hit $350,000 by August and consistently urges investors to buy and move away from the U.S. dollar.

Related: Kiyosaki’s Alert: BRICS Crypto Threat to US Dollar

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Major Bitcoin Whale Transfers $61.55 Million to Coinbase

A dormant Bitcoin whale reactivated, transferring $61.55 million worth of Bitcoin to Coinbase. This significant move follows other notable transactions, reflecting ongoing activity in large Bitcoin wallets.

• Main Points:

  • Whale Transfer to Coinbase: $61.55 million in Bitcoin transferred after six years of dormancy.

  • US Government Transaction: $241 million in Bitcoin moved to Coinbase on June 26.

  • Historical Bitcoin Transfer: $3 million worth of Bitcoin from 2010 moved to Binance.

  • Bitcoin Price Update: Bitcoin's price is down nearly 5% over the past week.

• Detailed Insights:

  • Whale Transfer to Coinbase: A long-dormant Bitcoin wallet, inactive for six years, transferred 1,000 BTC ($61.55 million) to Coinbase Prime. This transfer highlights significant movement within large Bitcoin wallets.

  • US Government Transaction: Earlier this week, the US government moved approximately $241 million worth of Bitcoin to Coinbase on June 26. Despite community concerns, this transfer did not trigger a notable price change.

  • Historical Bitcoin Transfer: On July 27, $3 million worth of Bitcoin mined in 2010 was transferred to Binance. These coins originated from the early days of Bitcoin when mining could be done with a personal computer.

  • Bitcoin Price Update: Currently, Bitcoin is trading at $61,522, having peaked at $62,314. The cryptocurrency is down nearly 5% over the past week and is struggling to regain bullish momentum after a recent price crash.

  • Bitcoin Market Activity: Despite the price struggles, inflows into large Bitcoin wallets have increased. Exchange-traded funds (ETFs) for Bitcoin are seeing inflows, which may provide support to bullish investors.

Related: Bitcoin Consolidation Continues

Bitcoin Activity Plummets to Lowest Level Since 2010

Bitcoin wallet activity has dropped to its lowest level since 2010, driven by reduced retail participation and the allure of celebrity meme coins. This decline signals market consolidation and highlights shifting investor interests.

• Main Points:

  • Lowest Activity Since 2010: Active Bitcoin addresses have reached their lowest level since November 2010.

  • Retail Participation Decline: Weaker retail involvement is a key factor.

  • Institutional Influence: Recent Bitcoin activity is driven more by institutional capital.

  • Whale Movements: Rising whale activity is anticipated, with potential market impacts.

  • Runes Protocol: Despite initial success, Runes transactions have normalized.

• Detailed Insights:

  • Lowest Activity Since 2010: Onchain data from IntoTheBlock reveals that Bitcoin's weekly active wallet ratio dropped to a low of 1.22% in June, the lowest since November 2010. The total number of active wallets also fell to multiyear lows, with 614,770 active wallets recorded in the week of May 27, the lowest since December 2018.

  • Retail Participation Decline: Juan Pellicer, a senior researcher at IntoTheBlock, attributes the declining activity to reduced retail participation compared to previous cycles. The current economic climate may have deterred retail investors from making significant crypto investments.

  • Institutional Influence: This year's Bitcoin rally to new highs was largely driven by institutional investors rather than retail participants. This shift in investor base has altered the dynamics of Bitcoin's market activity.

  • Whale Movements: Anticipation of increased whale activity, such as the Mt. Gox trustee distributing payments to creditors, is expected to influence the market. Larger holders, including governments, have also been involved in selling activities, affecting market sentiment.

  • Runes Protocol: The launch of the Runes fungible token protocol was initially successful, providing an alternative revenue stream for miners. However, transaction fees have since returned to pre-halving levels, and miner reserves are at 14-year lows. Despite this, Pellicer suggests that the current slowdown in Runes activity is part of a cyclical trend.

Related: Microstrategy Joins MSCI World Index Amid Bitcoin Rally

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