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Bitcoin Price May Surge Thanks to SEC Delaying BTC Spot ETFs, Here's How

Wed, 08/16/2023 - 14:20
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Yuri Molchan
SEC keeps delaying decisions on Bitcoin ETF bids, could this be useful for crypto prices?
Bitcoin Price May Surge Thanks to SEC Delaying BTC Spot ETFs, Here's How
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Prominent Bitcoin-focused X account @BTC_for_Freedom has shared its take on the policy of the U.S. securities regulator SEC regarding filings of investment funds to launch Bitcoin spot ETFs.

After the decisions on Ark's bid run by prominent investor Cathie Wood and Grayscale's bid have been delayed, @BTC_for_Freedom believes that the longer these delays take, the greater chance the community has to accumulate BTC for long-term holding.

This means that with demand for Bitcoin rising, by the time the SEC wakes up to start approving Bitcoin ETFs, the price of the flagship cryptocurrency may pump even harder.

On Tuesday, @BTC_for_Freedom issued a post, stating that over the past month, a total of 26,000 had been withdrawn from the Gemini exchange run by the Winklevoss twins. He believes that that could have been done by the BlackRock fund manager in order to launch its Bitcoin spot ETF if the SEC approves it next March.

'Rich Dad Poor Dad' Author Predicts Bitcoin to Hit $100,000, Here's What Must Happen

Robert Kiyosaki says Bitcoin may hit $1 million

The author of popular book on finance "Rich Dad Poor Dad," prominent Bitcoin supporter Robert Kiyosaki, tweeted this week that he expects Bitcoin to hit $100,000, and he even sees an opportunity for it to reach a whopping $1,000,000 per coin.

He believes that Bitcoin is the "people's money," and should the stock and bond market crash as a result of the current economic situation and the U.S. state debt that continues to rise, Bitcoin will reach $100,000. Gold and silver, which he called "God's money," will in this case surge as well.

However, if the world economy comes crashing down, Bitcoin may skyrocket to $1 million, Kiyosaki believes, and as for gold and silver, their prices may jump to $75,000 and $60,000, respectively.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at