[Bitcoin Now] Dropped to 55 Million Won Range but Experts Offer Positive Outlook

Mike Novogratz Galaxy Digital CEO "Bitcoin Will Rise in Q4"
Robert Kiyosaki "Gold Stagnant, Dollar Value Declines... Bitcoin and Silver Are Top Investments"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin has fallen to the 55 million KRW range. However, experts such as Mike Novogratz, CEO of cryptocurrency investment firm Galaxy Digital, and Robert Kiyosaki, author of the famous bestseller "Rich Dad Poor Dad," claim that Bitcoin's outlook is bright and that people should invest.

According to the domestic cryptocurrency exchange Upbit, at 2:54 PM on the 26th, Bitcoin recorded 55.39 million KRW, down 2.98% from the previous day. It rose to 57.49 million KRW at 9:54 AM that day but then declined.

Although Bitcoin has recently stalled, CEO Novogratz predicted it will surge again in the fourth quarter. On the 25th (local time), in an interview with the U.S. economic media CNBC, Novogratz said, "A massive paradigm shift is happening in the cryptocurrency market," adding, "This is an important time as major U.S. retailers like Walmart and credit card companies like Visa are entering the market." He also stated, "Bitcoin will consolidate and soon find stability," and "It will rise along with the S&P 500 in the fourth quarter."

CEO Novogratz is a prominent Bitcoin advocate. Earlier in April, in an interview with CNBC, he said, "The pace of financial institutions entering the cryptocurrency market is astonishingly fast," and "At this rate, Bitcoin's market capitalization will surpass gold." He also criticized politicians attempting to regulate Bitcoin. Last month, he called Senator Elizabeth Warren's cryptocurrency market regulation proposals "not progressive" and said, "There is a need to go to Washington D.C. and educate the lawmakers."

Kiyosaki also predicted a bright future for Bitcoin. On the 24th, he tweeted, "Bitcoin surpassing $50,000 (about 58.48 million KRW) is bad news for the older generation, such as parents who save money in traditional financial institutions like banks," adding, "Gold is stagnant and the dollar's value is falling, so Bitcoin and silver are the best investment options." In fact, on the 25th, gold futures recorded $1,791, down 0.97% from the previous day, failing to rebound significantly amid tapering concerns.

This content was produced with the assistance of AI translation services.