Bitcoin is the favourite digital currency of the author of
the famous book "Rich Father and Poor Father";
Fixed Bitcoin Price by New Year 2023
Renowned author Robert Kyusaki said the SEC regulations would crush most cryptocurrencies except bitcoin
Robert Kyusaki
a writer best known for his best
- selling book Rich Father and Poor Father and centred on
- achieving physical independence - stated that he was optimistic about
- the bitcoin digital currency, and would invest more in
- the leading cryptocurrency than any other cryptocurrency.
On December 31, 2022
Kyusaki expressed his enthusiasm for bitcoin
in his view "a commodity that is very similar to gold, silver and oil."
The author also claimed that the SEC would "crush" most alternative cryptocurrencies due to its regulations, contributing to his payment for buying more bitcoin.
Kyusaki has praised bitcoin and encouraged people to start investing in it, after the 75-year-old businessman and investor changed his mind on it in 2020, saying this asset has proved itself in times of distress.
Commodity or banknote?
In 2022, SEC Chairman Gary Ginsler reaffirmed bitcoin as a commodity
while most other cryptocurrencies are securities.
In an interview with CNBC, Gensler stated that "the law is clear in this regard, and based on the facts and circumstances, I think most other currencies are securities."
Meanwhile, bitcoin has been classified as a commodity for years by the United States Commodity Futures Trading Commission.
While views on bitcoin seem uncontested
the ongoing legal battle between SEC and Ripple Labs over XRP cryptocurrency still raises doubts about alternative cryptocurrencies, as the term alternative cryptocurrencies refers to all other cryptocurrencies other than bitcoin.
The Ethereum coin after merging has met the same fate as the cryptocurrency XRP and Ethereum is the second largest cryptocurrency in terms of market value
US officials claimed Ethereum could
become a paper currency Gensler also
warned that it is possible to formally consider the stocking process as an investment, This converts ethereum into a security and places it under the authority of the U.S. Securities and Exchange Commission.
Bitcoin price stabilized by 2023
The price of bitcoin remains constant even after the new year, as it has only increased by 1% over the past 24 hours, but the 24-hour trading volume is over $10.8 billion, according to CoinMarketCap estimates.
The bitcoin network was
exposed to compelling conditions in the last week of 2022
after many U.S.
miners suspended operations due to severe weather.
The mining rate (Hash Rate)
- a term referring to the power of network computing
- fell to nearly 40%, reaching its lowest ratio of 156.36 Hash/s
- but recovered by December 22, with mining capacity reaching 247.87 Hash/s.
Although 2022 has been a difficult year for bitcoin
and the overall cryptocurrency market
Tim Darper
an influential and renowned figure in the tech world, insists that the largest cryptocurrency in terms of market value will "certainly" reach $250,000 before halfingers begin.
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