Robert Kiyosaki Increases Bitcoin Holdings After SEC Green-Lights Spot BTC ETFs
Robert Kiyosaki, the author of the bestselling book "Rich Dad Poor Dad," has recently revealed that he purchased additional bitcoin following the U.S. Securities and Exchange Commission's (SEC) approval of 11 spot bitcoin exchange-traded funds (ETFs). As a prominent figure in the financial industry, Kiyosaki has expressed deep concerns about the U.S. economy, especially the threat of hyperinflation.
The book "Rich Dad Poor Dad," co-authored by Robert Kiyosaki and Sharon Lechter, has been a New York Times Best Seller for over six years. With over 32 million copies sold in more than 109 countries and translated into 51 languages, Kiyosaki's insights have reached a global audience.
In a social media post, Kiyosaki shared his worries about inflation and deflation, questioning the potential consequences of the decisions made by the White House, Treasury, and the Federal Reserve. He expressed his hope that hyperinflation would not occur but also emphasized the need to be prepared for such a scenario. As a result, Kiyosaki decided to buy an additional 5 bitcoin.
Kiyosaki further criticized the leadership of the country, stating that he trusts himself more than the leaders with PhDs. His belief in the long-term value of bitcoin has been reinforced by the recent SEC approval of spot bitcoin ETFs.
The SEC's decision to approve 11 spot bitcoin ETFs marks a significant milestone in the cryptocurrency industry. It opens the door for mainstream trading on major exchanges such as NYSE Arca, Nasdaq, and Cboe BZX Exchange. The trading of these funds began on Thursday, and Kiyosaki expressed his satisfaction with his earlier investment in bitcoin, reaffirming his bullish stance on the cryptocurrency and considering further investments. He predicts that the price of bitcoin will soon reach $150,000.
Kiyosaki has long been an advocate for alternative forms of currency, including gold, silver, and bitcoin. He believes that bitcoin provides the best protection against hyperinflation and has consistently made optimistic predictions about its future value. He has projected prices ranging from $135,000 in the near future to an astonishing $1 million in the event of a global economic meltdown.
In February of last year, Kiyosaki predicted that bitcoin would rise to $500,000 by 2025, with gold reaching $5,000 and silver hitting $500 along the way. These predictions reflect his deep concerns about the financial future of the United States. In April of the same year, he warned of a dying America, foreseeing hyperinflation and the collapse of the U.S. dollar. In November, he urged investors to enter the bitcoin market before it's too late.
Robert Kiyosaki's decision to increase his bitcoin holdings after the SEC's approval of spot bitcoin ETFs demonstrates his confidence in the future of the cryptocurrency. As an influential figure in the financial world, his actions and beliefs have the potential to shape the opinions and decisions of others. It will be interesting to see how his predictions and investments unfold in the coming months.
What are your thoughts on Robert Kiyosaki's decision to buy more bitcoin after the SEC's approval of spot bitcoin ETFs? Share your opinions in the comments below.
Frequently Asked Questions
What precious metal is best for investing?
This question is dependent on the amount of risk you are willing and able to accept as well as the type of return you desire. Gold is a traditional haven investment. However, it is not always the most profitable. For example, if your goal is to make quick money, gold may not suit you. You should invest in silver if you have the patience and time.
If you don't care about getting rich quickly, gold is probably the way to go. If you are looking for a long-term investment that will provide steady returns, silver may be a better choice.
How is gold taxed within a Roth IRA
An investment account's tax is calculated based on the current value of the account, and not on what you paid originally. All gains, even if you have invested $1,000 in a mutual funds stock, are subject to tax.
The money can be withdrawn tax-free if it's deposited in a traditional IRA (or 401(k)). Taxes are only charged on capital gains or dividends earned, which only apply to investments longer than one calendar year.
These accounts are subject to different rules depending on where you live. Maryland requires that you withdraw funds within 60 business days after reaching the age of 59 1/2. Massachusetts allows you to delay withdrawals until April 1. New York is open until 70 1/2. To avoid penalty fees, it is important to plan and take distributions in time to pay all your retirement savings.
How much are gold IRA fees?
Six dollars per month is the fee for an Individual Retirement Account (IRA). This fee covers account maintenance fees, as well any investment costs that may be associated with your investments.
If you want to diversify, you may be required to pay extra fees. These fees can vary depending on which type of IRA account you choose. Some companies offer free checking accounts, but charge monthly fees to open IRA accounts.
Most providers also charge an annual management fee. These fees vary from 0% to 11%. The average rate is.25% each year. These rates are usually waived if you use a broker such as TD Ameritrade.
Can I keep a Gold ETF in a Roth IRA
Although a 401k plan might not provide this option, you should still consider other options like an Individual Retirement Account (IRA).
A traditional IRA allows contributions from both employee and employer. Another way to invest in publicly traded companies is through an Employee Stock Ownership Plan.
An ESOP can provide tax advantages, as employees are allowed to share in company stock and the profits generated by the business. The money invested in the ESOP is then taxed at lower rates than if it were held directly in the hands of the employee.
An Individual Retirement Annuity (IRA) is also available. An IRA lets you make regular, income-generating payments to yourself over your life. Contributions to IRAs will not be taxed
Statistics
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
investopedia.com
- Do You Need a Gold IRA to Get Retirement?
- What are the Options? Types, Spreads, Example and Risk Metrics
finance.yahoo.com
law.cornell.edu
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement plans
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
The best place online to buy silver and gold
Before you can buy gold, it is important to understand its workings. Gold is a precious metallic similar to Platinum. It's very rare, and it is often used as money for its durability and resistance. It is difficult to use so people prefer to buy jewelry made from it to gold bars.
There are two types today of gold coins. One is legal tender while the other is bullion. Legal tender coins are designed for circulation in a country. They often have denominations like $1 or $5 or $10.
Bullion coins are minted for investment purposes only, and their values increase over time due to inflation.
They aren't circulated in any currency exchange systems. One example is that if someone buys $100 worth gold, they get 100 grams with a $100 value. Each dollar spent by the buyer is worth 1 gram.
When looking to buy precious metals, the next thing you should be aware of is where it can be purchased. There are many options for buying gold directly from dealers. First, your local currency shop is a good place to start. You can also go to a reputable website such as eBay. You might also consider buying gold from an online private seller.
Individuals selling gold at wholesale prices and retail prices are known as private sellers. Private sellers will charge you a 10% to 15% commission for every transaction. This means that you will get less back from a private seller than if you sell it through a coin shop or on eBay. This option can be a good choice for investing in gold because it allows you to control the price.
The other option is to purchase physical gold. You can store physical gold much more easily than you can with paper certificates. However, it still needs to be safe. To ensure that your physical gold remains safe, you need to secure it in an impenetrable container such as a vault or safety deposit box.
You can either visit a bank, pawnshop or bank to buy gold. A bank can provide you with a loan to cover the amount you wish to invest in gold. Small establishments that allow customers to borrow money for items they have brought are called pawnshops. Banks tend to charge higher interest rates, while pawnshops are typically lower.
A third way to buy gold? Simply ask someone else! Selling gold can be as easy as selling. You can contact a company like GoldMoney.com to set up an account and receive payments right away.
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By: Kevin Helms
Title: Robert Kiyosaki Increases BTC Holdings After SEC Approval of Spot Bitcoin ETFs
Sourced From: news.bitcoin.com/robert-kiyosaki-increases-btc-holdings-after-sec-approval-of-spot-bitcoin-etfs/
Published Date: Fri, 12 Jan 2024 02:00:12 +0000
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