Bitcoin Surge: Key Events Driving Massive Growth This Week

The Bitcoin market is ever-evolving, and staying informed is the best way to navigate this dynamic environment. With changes happening frequently, the most valuable resource for traders and investors is information. The more up-to-date you are, the better your decisions and the stronger your financial position will be.

Kiyosaki on Bitcoin: “Ditch the Dollar, Invest in Bitcoin”

Famed investor Robert Kiyosaki, author of the bestseller Rich Dad, Poor Dad, has made headlines again with his latest statement: “The U.S. dollar is trash.” According to Kiyosaki, the global economy is nearing collapse, and the safest investments are Bitcoin, gold, and silver.

Kiyosaki urged, “Stop saving fake money… and start saving gold, silver, and Bitcoin — real money.” His belief is that those who rely on the dollar will face harsh consequences, while those invested in precious metals and Bitcoin will weather the coming economic storm.

As the debate over whether gold or Bitcoin is the superior investment continues, Kiyosaki weighed in: “It’s simple. The question is not gold versus Bitcoin. What matters is how much gold or Bitcoin you own. End of debate.”

MicroStrategy Expands Its Bitcoin Holdings

In another major development, Michael Saylor, the founder of MicroStrategy, announced that the company has purchased an additional 18,300 Bitcoins, valued at $1.11 billion. This brings the company’s total holdings to 244,800 BTC as of September 12, 2024.

Saylor’s company remains committed to Bitcoin, continuing to purchase more based on market conditions. Saylor has boldly predicted that by 2045, Bitcoin could reach a price of $13 million per coin.

Bitcoin Price to Reach $100,000, Says Executive

In a recent CNBC interview, Steven Lubka, Head of Private Clients at Swan Bitcoin, confidently predicted that Bitcoin could hit six figures in the coming years. “Will we hit $100,000 by 2025? I’m almost certain. And I don’t think the election results will change that.”

This outlook provides optimism to crypto markets, suggesting that while short-term factors like elections may influence Bitcoin’s volatility, the long-term potential remains bullish. Additionally, VanEck predicts that if Donald Trump wins the U.S. presidential election, Bitcoin could hit $100,000 by the end of 2024.

Standard Chartered’s Digital Asset Custody Service

Standard Chartered bank launched a digital asset custody service in the United Arab Emirates, focusing initially on Bitcoin and Ethereum. Approved by Dubai’s Financial Services Authority (DFSA), this marks a significant step for both the bank and the financial industry.

The CEO of Standard Chartered, Bill Winters, stated, “We firmly believe digital assets are not a passing trend but a fundamental shift in the financial system’s fabric.”

Bitcoin Market Nearing Bottom, K33 Research Suggests

A recent K33 Research report indicates that Bitcoin could be approaching a bottom, with perpetual funding rates remaining negative. Analysts Vetle Lunde and David Zimmerman pointed out that a significant withdrawal of $750 million in Bitcoin from exchanges signals possible accumulation by long-term investors.

While caution is always advised, this could suggest a bullish outlook for the remainder of the year.

Key Takeaway

As Bitcoin continues to solidify its place in the global financial landscape, staying informed about market movements, expert opinions, and institutional investments is critical for success. Bitcoin remains a long-term solution against inflation and currency devaluation, as echoed by Michael Saylor: “Bitcoin is the long-term answer to inflation and the devaluation of fiat currencies.”