Bitcoin Dips Below $60,000 Amid Hamster Kombat Hype and Blast Airdrop
“Should Have Bought” is a news podcast featuring the ForkLog editorial team and friends, discussing the week’s major industry events and the hottest tokens.
This episode covers market stagnation, peculiar statements by Kiyosaki, a $10 million Bitcoin prediction, and VanEck’s application for a spot Solana ETF.
Special guest: Georgy Verbitsky, a fintech and investment professional and founder of the startup TYMIO.
Participants: ForkLog authors Lena Jess, Alex K., Vasily Smirnov.
Echoes of Mt.Gox and Bitcoin’s Drop Below $60,000
The trustee of the bankrupt Mt.Gox exchange, which collapsed in 2014, announced compensation payouts in Bitcoin, Bitcoin Cash, and cash at the beginning of July.
The market reacted nervously to the news release. The leading cryptocurrency fell below the $62,000 level on increased volumes. Within 15 minutes, the drop exceeded 2.5% at one point.
On June 24, the price of digital gold fell below $60,000 and then $59,000.
Amid the correction, the cryptocurrency fear and greed index dropped to 30 points. Such levels were last seen in September 2023.
A Strange Tip from the ‘Rich Dad’
Robert Kiyosaki, author of the bestseller “Rich Dad Poor Dad” and entrepreneur, stated in the context of Bitcoin’s decline that “most people should sell.”
“Some people make a lot of money ‘trading’ on the markets, which means buying at the lows and hopefully selling at the lows,” the businessman shared his thoughts.
Kiyosaki prefers Warren Buffett’s strategy—”buy and hold forever.” In periods without trading, he focuses on creating new assets and works on two startups.
“If corrections scare you, sell and hold onto your job. Entrepreneurs and employees are two sides of the same coin,” he added, predicting “tough times” and “advising to do what’s best for oneself.”
Michael Saylor’s $10 Million Forecast
MicroStrategy founder Michael Saylor is convinced of the first cryptocurrency’s potential to rise to $10 million, supported by China and other factors.
During a podcast with Robin Sier, the entrepreneur described Bitcoin as a “perfect” asset:
“What is the difference between perfect and imperfect money? Perfect money is economic immortality. Imperfect money: we all have a short and brutal life.”
According to Saylor, digital gold serves as a “corporate machine” that will allow companies to “live forever.” He believes that firms investing in Bitcoin can outlast those “mired in the corporate ailments of the past.”
Is a Solana ETF on the Horizon?
Investment firm VanEck has filed an application with the SEC to register an ETF based on the Solana cryptocurrency.
According to the documents, the VanEck Solana Trust will track SOL’s performance through the Solana Benchmark Rate index from MarketVector Indexes. The ETF is expected to list on the Cboe BZX platform, though the ticker has yet to be determined.
VanEck’s Head of Research, Matthew Sigel, noted that Solana is a digital commodity similar to Bitcoin and Ethereum. He stated that “high throughput, low fees, security, and a strong community make the cryptocurrency attractive for an ETF, providing investors access to an innovative open-source ecosystem.”
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