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.
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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.”
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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.
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