Personal finance author Robert Kiyosaki has accused American investment company BlackRock of manipulating the Bitcoin exchange rate in the interests of large corporate entities.
Kiyosaki suggested that BlackRock CEO Larry Fink may be intentionally “dumping” Bitcoin, selling off the cryptocurrency and driving its price down. This encourages institutional investors to buy more Bitcoin, the writer believed. Kiyosaki urged investors to keep Bitcoin in personal wallets rather than trusting assets to asset management companies.
“Larry Fink is dumping Bitcoin. I like Bitcoin in my own wallet. I wouldn’t trust BlackRock ETF with Bitcoin. BlackRock is putting pressure on Bitcoin so whales can buy coins at a rate of less than $100,000,” Kiyosaki wrote.
Despite concerns about possible manipulation of the BTC rate, Kiyosaki reiterated his prediction that Bitcoin will reach $350,000 in 2025. The writer urged investors to continue accumulating Bitcoin.
BlackRock has become a key player in the crypto market after launching a spot exchange-traded fund (ETF) tied to Bitcoin. Kiyosaki’s comments came shortly after BlackRock’s ETF, the iShares Bitcoin Trust (IBIT), saw its largest daily outflow of $188.7 million on December 24. The asset manager transferred 828 BTC ($80 million) to US crypto exchange Coinbase.
Kiyosaki has previously criticized investments in traditional and cryptocurrency ETFs, calling them a surrogate form of investment, separate from the real asset.
