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'Rich Dad Poor Dad' Author Shares How Much BTC He Bought After ETF Approval, SHIB Erases Another Zero, Ripple CEO Celebrates SEC Approval: Crypto News Digest by U.Today

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Fri, 12/01/2024 - 14:37
'Rich Dad Poor Dad' Author Shares How Much BTC He Bought After ETF Approval, SHIB Erases Another Zero, Ripple CEO Celebrates SEC Approval: Crypto News Digest by U.Today
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Here are the top three news stories presented to you by U.Today.

"Rich Dad Poor Dad" author reveals how much Bitcoin he bought after ETF approval

Robert Kiyosaki, financial guru and author of "Rich Dad Poor Dad" world-bestselling book, has recently taken to X platform to make another pessimistic market forecast. In his post, Kiyosaki invited his followers to ponder over the possible implications of the U.S. Treasury and the Federal Reserve, and the PhDs in these governmental institutions, failing to save the economy. According to the author, if the U.S. dollar crashes, the United States is likely to fall into hyperinflation. "That's why I bought 5 more Bitcoin today," wrote Kiyosaki, promoting the world's largest crypto as a safe-haven asset in his usual manner. At the moment of writing, five BTCs are worth $230,355 (with Bitcoin trading at $46,071). Kiyosaki's purchase likely took place after the SEC greenlit for Bitcoin spot ETFs. As a reminder, the pivotal market development took place on Jan. 10, with the regulator approving 11 Bitcoin ETF applications, including those from BlackRock, VanEck, Fidelity, Ark Invest and Grayscale.

Shiba Inu (SHIB) erases another zero

Yesterday, the Shiba Inu (SHIB) meme coin got rid of another zero in its price, to the great joy of the SHIB community. At the moment of writing, the meme coin is trading at $0.00001021, per CoinMarketCap. This achievement represents breaking barriers, reaching new peaks in market capitalization and gaining wider recognition in the crypto space. The SHIB token was one among many cryptocurrencies that saw their value increase following a significant move for the cryptocurrency industry anticipated for years - the approval of spot Bitcoin ETFs by the SEC. The positive decision of the regulator has injected a fresh wave of optimism onto the market, boosting the prices of various cryptocurrencies, including Shiba Inu. Meanwhile, SHIB lead Shytoshi Kusama unveiled his ambitious plan for the SHIB token's future, namely, the introduction of SHIB name tokens, which is aimed at bridging the gap between the traditional internet and Web 3.0.

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Ripple CEO celebrates SEC approval

In a recent X post, Ripple CEO Brad Garlinghouse hailed the major milestone that has been on the lips of the entire crypto industry since Wednesday - the SEC's approval of spot Bitcoin ETFs. "The significance of this moment cannot be overstated," wrote Garlinghouse, congratulating everyone who had worked to bring this anticipated outcome to reality. The CEO then underlined that the spot Bitcoin ETF approval is a monumental step toward the legitimization of cryptocurrencies as an asset class, expressing hope that the move will spur further institutional adoption and investment. He expects a shift in focus from speculative trading to broader, real-world use of cryptocurrency, further establishing its position as a legitimate asset class. Garlinghouse's post gained lots of attention from the X crypto community, hitting 9,500 likes and almost 500 comments.

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