Here are the top three news stories from the previous day brought to you by U.Today.
Bitcoin ETFs eating gold’s lunch
As seen on a recent chart provided by J.P. Morgan, Bitcoin is already eating gold’s lunch following the launch of much-anticipated spot Bitcoin ETFs. The chart shows a noticeable inflow into Bitcoin funds, while gold ETFs are experiencing a concurrent outflow. This trend indicates that investors are beginning to favor digital assets over traditional havens. Within a short period, Bitcoin ETFs have accumulated $27.5 billion, surpassing silver ETFs and aiming to beat the $90 billion invested in gold ETFs. After entering the market, Bitcoin ETFs are not only bringing a new form of investment to the forefront but also directly jeopardizing gold’s long-standing reputation as a store of value, and the graph by J.P. Morgan is highlighting this shift.
“Rich Dad Poor Dad” author Kiyosaki finally explains why he owns Bitcoin (BTC)
In a recent X post, Robert Kiyosaki, financial guru and author of “Rich Dad Poor Dad” bestselling book, revealed the reason behind his significant Bitcoin investment. Kiyosaki explained that he sees the largest crypto as protection against “the theft of our wealth” orchestrated by entities like the Federal Reserve, Treasury and Wall Street bankers. According to the author, these institutions take advantage of the value of traditional currency via inflation, taxation and manipulation of stock values. This is why Kiyosaki has opted to favor the decentralized and inflation-resistant qualities of Bitcoin over traditional investment vehicles like equities, bonds and fiat money.
Bitcoin price likely to go parabolic: Samson Mow
Jan3 CEO Samson Mow has lately become known on X platform for his bullish stance on Bitcoin, with his most prominent prediction stating that the largest crypto will one day eventually reach the high of $1 million following the launch of Bitcoin ETFs. Yesterday, Mow took to social media to once again announce his optimistic views on the BTC price, this time choosing to do so via a meme. He accompanied the picture with a text to bring attention to the speed at which Bitcoin ETF-issuing companies have been accumulating Bitcoin after their new products launched. The meme says: “It’s impossible that ETFs keep accumulating at this rate without the price going parabolic.”