The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

This week’s topics

Monumental SEC failureBitcoin ETF multipleGerman economic updateTaiwan elections and China responseSEC’s 2FA Failure

Bitcoin is a great teacher. Many of us have learned so much, from studying and following Bitcoin over the years, not just about money but about life. Once again, Bitcoin provides us with a teachable moment in the hack of the SEC’s X/Twitter account. First, even if you…

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For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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BitcoinNews.com is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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Financial expert and acclaimed author of “Rich Dad Poor Dad,” Robert Kiyosaki, recently voiced concerns over the US economy’s future in a striking Twitter post. Kiyosaki, a long-time Bitcoin enthusiast, warned of dire consequences if the US Treasury and the Federal Reserve fail to avert a looming economic crisis. He suggested that such a failure could lead to the US dollar’s collapse and trigger hyperinflation.

Kiyosaki’s commitment to Bitcoin, which he has often championed as a hedge against economic instability, was further evidenced by his announcement of purchasing an additional five Bitcoins. This acquisition, valued at approximately $231,291, coincides with the US Securities and Exchange Commission’s endorsement of Bitcoin spot ETFs, a notable development in the cryptocurrency realm.

This latest investment by Kiyosaki underscores the growing appeal of Bitcoin as a viable financial asset, especially in times of economic uncertainty. His continuous advocacy and bullish stance on Bitcoin, particularly in the wake of expansive US dollar printing since 2020, reflect a deep-seated belief in the cryptocurrency’s potential amidst fluctuating market conditions.

Twitter

$1M – $10M MarketCap:

1. Lithium Finance (LITH): 89%
2. Rocky the dog (ROCKY): 80%
3. Virtual Versions (VV): 20%
4. PolkaBridge (PBR): 19%
5. Caduceus (CMP): 14%

$10M – $100M MarketCap:

1. Blockchain Brawlers (BRWL): 155%
2. Creo Engine (CREO): 38%
3. Restake Finance (RSTK): 33%
4. Unibot (UNIBOT): 32%
5. PAID Network (PAID): 30%

$100M – $1B MarketCap:

1. Everscale (EVER): 82%
2. dogwifhat (WIF): 56%
3. Ethereum Name Service (ENS): 35%
4. Xai (XAI): 28%
5. Aurora (AURORA): 28%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Congressman Michael A. Collins has made significant investments in Ethereum, as disclosed in recent filings. Records indicate that Collins reported two separate purchases of Ethereum. The first transaction, dated January 3, 2024, falls between $1,001 and $15,000. A subsequent transaction on January 8, 2024, was notably larger, with the amount invested ranging from $15,001 to $50,000. These disclosures, provide a glimpse into the growing interest in cryptocurrency among members of Congress.

Source from CongressTrading

In a landmark decision, the SEC has voted to approve Bitcoin Spot ETFs, as reported. This approval has sparked a reaction from Elon Musk, who, during an X Spaces event with Cathie Wood, expressed his openness to the idea of utilizing Bitcoin on X. The SEC’s ETF Approval voting was divided: Gensler, Peirce, and Uyeda voted in favor, while Crenshaw and Lizárraga opposed the approval.

Here’s the voting breakdown:

Gensler: Approved

Peirce: Approved

Uyeda: Approved

Crenshaw: Not Approved

Lizárraga: Not Approved

SEC Official Bitcoin ETF Approval Documents link

Hester Peirce Official SEC Statement Link

Elon Musk & Cathie Wood on X Space recording link