- BlackRock’s Bitcoin ETF faces criticism for potential price suppression, enabling large investors to buy below $100,000.
- Vivek Ramaswamy challenges BlackRock’s ESG-focused strategies, advocating for shareholder-centric financial practices in crypto investments.
Robert Kiyosaki, recently expressed skepticism about BlackRock’s Bitcoin ETF and shared a bullish prediction for Bitcoin’s future. His remarks come after BlackRock’s iShares Bitcoin Trust (IBIT) recorded a substantial outflow of $188.7 million on December 25, 2024, marking one of the largest Bitcoin liquidations in recent history.
Kiyosaki highlighted his distrust of BlackRock’s custodial Bitcoin product, arguing that such mechanisms primarily benefit institutional investors at the expense of smaller holders.
Kiyosaki directly criticized BlackRock’s strategies, stating:
“I would not trust Bitcoin in BlackRock’s ETF.”
He suggested that the firm might be intentionally suppressing Bitcoin’s price, allowing large investors to accumulate the asset at discounted levels.
He added:
“BlackRock is manipulating Bitcoin’s price so whales can buy under $100,000.”
His comments align with concerns about the influence of major institutions on cryptocurrency markets.
Optimistic Price Forecast for Bitcoin
Despite his criticism of BlackRock, Kiyosaki reaffirmed his confidence in Bitcoin as a long-term store of value. He predicted that Bitcoin’s price could reach $350,000 by 2025, citing its increasing adoption by corporations and its role as a hedge against economic instability.
He emphasized his personal investment strategy, saying he prefers to hold Bitcoin in private wallets and plans to continue accumulating as prices rise.
Ramaswamy Challenges BlackRock’s Corporate Philosophy
Kiyosaki’s remarks were echoed by entrepreneur and investor Vivek Ramaswamy, who has consistently opposed BlackRock’s focus on Environmental, Social, and Governance (ESG) principles.
Ramaswamy, through his firm Strive Asset Management, criticized BlackRock’s “stakeholder capitalism” which he claims prioritizes social agendas over maximizing returns for shareholders.
He described the approach as counterproductive and likened it to economic ideologies that prioritize collective ownership over individual wealth creation.
Institutional Trends and Bitcoin Adoption
Institutional interest in Bitcoin continues to grow, as evidenced by recent corporate moves. For example, KULR Technology allocated 90% of its cash reserves to Bitcoin, acquiring over 217 BTC worth $21 million.
Other firms, such as Bitwise Asset Management and Strive Asset Management, have filed applications for Bitcoin-focused ETFs, further integrating Bitcoin into the mainstream financial system.
Larry Fink dumping Bitcoin. VIVEK warned Larry Fink of BLACK ROCK is a Marxist. Vivek warned Fink & Black Rock are Share Holder Capitalist not Stake Holder Caplitist. Share Holder Capitalists are Marxist….like Klaus Schwab who state: “Someday you’ll own nothing and you’ll be…
— Robert Kiyosaki (@theRealKiyosaki) December 27, 2024
Bitcoin’s performance in 2024, with a 130% increase in value, underscores its expanding role in institutional portfolios. These trends, coupled with Kiyosaki’s optimistic forecast, signal a robust outlook for Bitcoin heading into 2025.
Bitcoin (BTC) is currently trading at $94,596.39 USD, with a 0.8% increase over the last 24 hours. The 24-hour trading range has been between $93,368.85 and $95,388.98 USD, reflecting mild volatility. Bitcoin’s market capitalization is approximately $1.87 trillion USD, reinforcing its position as the largest cryptocurrency globally.
Key Metrics:
- Market Cap: $1.87 Trillion USD.
- Trading Volume: $37.39 Billion USD over the past 24 hours, marking a decrease of 37.2% compared to the previous day, which may indicate slowing market activity.
- Circulating Supply: About 19.8 million BTC, with a maximum capped supply of 21 million.
Technical Insights:
Bitcoin is exhibiting a consolidative trend, with resistance near $95,400 USD and support around $93,400 USD. The relatively stable price movement over the past week (-2.96%) may precede significant market activity depending on macroeconomic factors and investor sentiment.
