Bitcoin Price Prediction: BTC Above $46,000 Amid ETF Green Light & Kiyosaki’s $150K Forecast
Bitcoin price has surged above $46,000 as the US Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs) on Wednesday. The approval came after a US congressional panel requested an SEC briefing on a fake tweet that claimed the regulator had authorized a bitcoin futures ETF. The tweet, which was later deleted, caused a brief spike in bitcoin’s price on Tuesday. The approval of spot bitcoin ETFs, which track the actual price of the digital asset, is seen as a major boost for the crypto industry, as it could attract more institutional and retail investors to the market.
One of the beneficiaries of the SEC’s decision is Grayscale, the largest digital asset manager, which converted its flagship Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF. According to Mom of Crypto, a popular crypto analyst, Grayscale and a favorable court ruling were the key factors that enabled the SEC to approve the bitcoin ETFs.
Meanwhile, Robert Kiyosaki, the author of Rich Dad Poor Dad, has expressed his bullish outlook on bitcoin, predicting that it will reach $150,000 soon. He also said that he will be buying more bitcoin, as he believes it is a better hedge against inflation than gold or silver.
On Wednesday, the GOP-controlled House Financial Services Committee wrote to the SEC, asking for an explanation on a hoax tweet from the SEC’s official X account the previous day. The fraudulent tweet on the SEC’s X social media account, which purported to approve Bitcoin ETFs, had an instant effect on the price of the cryptocurrency. The false information caused the price of Bitcoin to soar.
In response to what they saw as a good development, traders moved, hoping that the SEC would approve Bitcoin ETFs. But once
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