- "Rich Dad Poor Dad" author: If Bitcoin crashes to $300, hereâs choice
- CIA: Bitcoin here to stay
- Ethereum in big trouble if it doesn't scale 100x, researcher warns
U.Today presents to you the top three stories over the past day; don't miss this piece!
"Rich Dad Poor Dad" author: If Bitcoin crashes to $300, here’s choice
"Rich Dad Poor Dad" author and financial guru Robert Kiyosaki has once again taken to X platform to share his concerns regarding the current state of the global economy. This time, Kiyosaki started his X post by addressing a growing fear of unemployment spreading "like a virus across the world," which is obviously not good for the global economy. The author then referred to his earlier work, "Rich Dad’s Prophecy," where he forecasted a significant market crash leading to a recession and possible "New Great Depression." "I hope my book and I are wrong," wrote Kiyosaki. However, at the same time, he stated that crashes can present unique investment opportunities, recalling how the 2008 financial crisis benefited him and others by making real assets more affordable. Kiyosaki took Bitcoin as an example, stating that it could also be affected by the market crash, and if it crashes to $300 hypothetically, there would be only two choices – "to cry or celebrate." Lastly, he urged his audience to be prepared for potential market turmoil, stressing that readiness is far more crucial than succumbing to panic.
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CIA: Bitcoin here to stay
Michael Ellis, the deputy director of the Central Intelligence Agency (CIA), has recently made an appearance on Anthony Pompliano's "The Pomp Podcast" to discuss, among other things, cryptocurrencies, and Bitcoin in particular. Ellis stated that Bitcoin is "here to stay" while highlighting BTC's growing institutional adoption, which he thinks is a "great trend." The deputy director sees Bitcoin as part of global technological competition and believes that it is important for the U.S to stay ahead of China in the crypto arena. Ellis also pointed out the "tremendous potential" of using crypto for tracking what U.S. adversaries are doing and disrupting them. The discussion around the CIA's involvement in crypto has been fueled by past events, including a visit from Bitcoin developer Gavin Andresen to the agency in 2011, which some believe could be connected to Satoshi Nakamoto's subsequent disappearance.
Ethereum in big trouble if it doesn't scale 100x, researcher warns
In a recent post on the Ethereum Magicians website, Dankrad Feist, a researcher at the Ethereum Foundation, warned that Ethereum could become irrelevant in the next five to ten years unless it changes its current trajectory. Earlier this month, Feist introduced Ethereum Improvement Proposal 7938, which aims to increase the gas limit by 100x over the course of four years; this would allow for a greater number of transactions per block. Even though Feist admitted that the proposal is "unconventional," he believes that such bold decisions are necessary to prevent Ethereum from fading into irrelevance. According to Feist, the endgame is to scale Ethereum up to 1,000x. However, he cautioned that if liquidity gets fragmented across layer-2s, Ethereum risks losing to other competing ecosystems. Still, Feist remains confident that Ethereum can scale without compromising its crucial properties (censorship resistance and verifiability).
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