Bitcoin

Bitcoin Set To Hit $350,000 Despite BlackRock Sell-Off Fears, Robert Kiyosaki Says

Published

15 hours ago

December 28, 2024

Author of “Rich Dad, Poor Dad” and Bitcoin (BTC) enthusiast Robert Kiyosaki has backed the premier cryptocurrency to attain a $350,000 price mark in 2025. This daring prediction comes alongside slamming comments against asset manager BlackRock whom Kiyosaki accuses of trying to manipulate BTC’s price.

BlackRock Selling BTC In Favor Of Market Whales – Kiyosaki

In an X post on December 27, Kiyosaki claimed that BlackRock under the leadership of Larry Fink, is currently offloading large amounts of Bitcoin as he voiced his distrust over the asset manager’s involvement in the BTC market.

The American author reiterated the views of republican Vivek Ramaswamy, who described Larry Fink as a shareholder capitalist i.e. people who are focused on maximizing returns for shareholders rather than stakeholder capitalists who consider the interest of employees and communities.

In this regard, Kiyosaki further alleges that BlackRock is deliberately suppressing Bitcoin’s price below $100,000 via sell-off to allow market whales to purchase at lower prices.

Truly, data from Arkham Intelligence shows that BlackRock has recently moved +$203 million BTC to Coinbase Prime over the past two days. However, it remains to be seen if BlackRock intends to sell these assets or just maintain ownership on a custodial wallet.

Furthermore, Robert Kiyosaki advises against investing in BTC via BlackRock’s ETF, preaching a mode of direct investment in place.

Ironically, BlackRock boasts of the largest Bitcoin Spot ETF i.e. IBIT with $52.71 billion in net assets. Amidst rumors of a planned BlackRock market offload and BTC’s ongoing price decline, IBIT recorded its largest market outflow ever of $188 million on December 26 according to data from SoSoValue.

Nevertheless, Robert Kiyosaki backs Bitcoin’s robust bullish structure despite BlackRock’s alleged price manipulation antics. The author affirms his conviction to purchase more BTC which he predicts will reach $350,000 per unit in 2025.

Bitcoin Price Overview

At the time of writing, Bitcoin trades at $94,405 reflecting a loss of 1.88% in the past day. However, its daily trading volume is up by 12.95% and is valued at $51.35 billion.

According to its daily chart, Bitcoin’s immediate resistance lies at $100,000, overcoming which can propel a return to the $108,000 price region marking a total price recovery for the premier cryptocurrency. Albeit, another rejection at $100,000 will force BTC to retain its current consolidation pattern.

Regardless, Bitcoin continues to rank as the largest digital asset by market cap with total market shares of $1.86 trillion, translating into a crypto market dominance of 56.8%.