Bitcoin (BTC) Price News: With uncertainty around regulation, there is a section of influencers who are still wary of investing in cryptocurrencies. Despite all the difficulties and price crash in 2022, the crypto market stands a good chance of some bullish momentum in 2023. Rich Dad Poor Dad author Robert Kiyosaki, however, is bullish about Bitcoin (BTC) prospects due regulatory advantage it could attain. It remains to be seen how soon from the U.S. Securities and Exchange Commission (SEC) will bring in such a move.
Also Read: IMF Chief Warns Of Dire Recession, What It Means For Crypto?
Robert Kiyosaki Is Buying Bitcoin
Explaining the competitive advantage Bitcoin could gain in the future, the author said he was buying more of the top cryptocurrency. In a latest tweet on December 31, he said the SEC’s regulations will crush a majority of the altcoins. He added that BTC’s advantage comes from its recognition as a commodity on the lines of gold and silver. A bipartisan bill on cryptocurrency regulation was released in June 2022.
The bill was primarily aimed at regulating various cryptocurrencies in different categories. According to the classification proposed in the bill, altcoins will come under the SEC’s purview. Whereas the Commodity Futures Trading Commission (CFTC) will look after Bitcoin in the commodities category.
“I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classified as a security and SEC regulations will crush most of them. I am buying more Bitcoin.”
Also Read: Bitcoin Price Prediction: Complete Report On What To Expect In 2023
As of writing, $16,717, up 0.99% in the last 24 hours, according to price tracking platform CoinMarketCap. Since the FTX collapse in November 2022, the BTC price remained largely stagnant.
Also Read: Crypto Twitter Reacts To Bitcoin Core Developer Losing Over 200 BTC
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Credit: Source link