Robert Kiyosaki, the Rich Dad Poor Dad author recently took to X and noted Larry Fink dumping Bitcoin. Notably, on December 25, BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), saw a record outflow of $188.7 million. This was one of the biggest Bitcoin dumps ever. The timing of this sale has led to speculations in the market.
He also noted that Vivek Ramaswamy criticized Fink and BlackRock, calling them “Shareholder Capitalists” and likening them to Marxists, similar to Klaus Schwab’s philosophy of “owning nothing and being happy.”
Ramaswamy has been vocal about his opposition to BlackRock’s approach to corporate governance and its focus on Environmental, Social, and Governance (ESG) criteria. He has argued that BlackRock, under CEO Larry Fink, promotes “stakeholder capitalism,” which he believes prioritizes social and political agendas over maximizing shareholder value.
Ramaswamy, through his firm Strive Asset Management, has advocated for “anti-woke” investing and has opposed the growing influence of ESG factors in business decisions, particularly criticizing companies like BlackRock for pushing such agendas.
BTC To Hit $350K
In the same post, Kiyosaki expressed his bullish bet on Bitcoin and revealed that he loves to hold Bitcoin in his own wallet, and shared that he would not trust Bitcoin in BlackRock’s ETF. He also argued that BlackRock is suppressing Bitcoin’s price so that large investors can buy it at under $100k.
Despite all of this, he remains bullish on Bitcoin and shared with his followers that he will keep buying more Bitcoin as he sees it going higher. He also predicted that it will reach $350,000 in 2025.
Bullish Outlook
Bitcoin has increased almost 130% this year, breaking record highs on several occasions. The dominant crypto narrative for 2024 has focused on institutional adoption, with increased involvement from major financial institutions and corporations in the cryptocurrency space. Also, the number of publicly traded companies who are planning to add bitcoin to their corporate treasury is accelerating.
The trend, which started with MicroStrategy in 2020, recently attracted KULR Technology (KULR) as it bought 217.18 BTC for $21 million and is allocating up to 90% of the surplus to cash to BTC.
Besides, Bitwise Asset Management has applied for an ETF to track the shares of companies that hold at least 1,000 BTC in treasury. Also, Strive Asset Management, co-founded by Vivek Ramaswamy, filed a second Thursday application for a Bitcoin Bond ETF. This ETF aims to gain exposure through derivative instruments, including MicroStrategy’s convertible securities, and will be actively managed. These developments have strengthened the bullish outlook for Bitcoin.
