Robert Kiyosaki predicts a major market crash, suggesting bitcoin could briefly drop to $5,000 before surging to over $100,000. BRICS countries continue to shift away from the U.S. dollar and euro, with 65% of transactions now conducted in local currencies. The AI-generated meme coin, GOAT, saw an astonishing 12,000% rise in value in just 24 hours. In a legal battle, James Howells is suing Newport City Council after a decade-long fight to recover a hard drive containing nearly $500M worth of bitcoin. Lastly, Blackrock CEO Larry Fink declares bitcoin a rival to gold.
Kiyosaki Predicts Crash, BRICS Slashes USD and EUR Transactions, and More — Week in Review
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Robert Kiyosaki Predicts ‘Everything Crash’: Bitcoin May Drop to $5,000 Amid Market Collapse
Rich Dad Poor Dad author Robert Kiyosaki predicts a catastrophic stock market crash and the collapse of “The Everything Bubble,” warning that gold, silver, and bitcoin will nosedive, triggering a global depression. He urges investors to brace for financial turmoil, saying only the prepared will emerge wealthier from the ruins. “Take bitcoin for example… it may crash to $5,000 a coin … then boom to $100,000 to $250,000 and higher,” he noted.
Editor’s comment: In severe crashes it is counterintuitively the assets that have retained their value the most that are often sold first in order to pay for leveraged positions.
BRICS Slashes US Dollar and Euro Transactions to Below 30%
BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states, signaling a strategic shift to reduce dependency on Western financial systems. The trend has accelerated due to sanctions and geopolitical tensions.
Editor’s comment: Recent reports indicate that while there is a growing movement toward de-dollarization among BRICS countries, the actual percentage of transactions conducted in local currencies is still a matter of debate.
Report: GOAT Meme Coin, Created by AI Bot, Gains Massive Value Over the Past Day
A meme coin named GOAT, issued by an artificial intelligence (AI) bot known as “Truth Terminal,” has gained significant traction with a dramatic rise in value. According to a report published by chaincatcher.com, authored by Deep Tide Techflow, on Oct. 11, the meme coin achieved a 12,000% increase in the first 24 hours, bringing attention to the world of AI-driven cryptocurrency innovations.
Editor’s comment: Meanwhile, last week’s flash in the pan, Moodeng, is down more than 60%. Does this goat have legs?
$500M Bitcoin Buried in Landfill: Man Sues City After Decade-Long Battle for Recovery
James Howells is suing Newport City Council after a decade-long fight to recover a hard drive containing 7,500 bitcoins, now worth nearly $500 million, mistakenly dumped in 2013. The council has repeatedly denied excavation requests, citing environmental concerns. Howells claims the data is recoverable.
Editor’s comment: The outcome of this whole story will surely be a movie one day: either a tragedy or a comedy.
Blackrock CEO Larry Fink Declares Bitcoin an Asset Class, Rivaling Gold in Investment Potential
Blackrock CEO Larry Fink has emphasized bitcoin’s growing legitimacy as an investment, calling it an alternative to commodities like gold. “We believe bitcoin is an asset class in itself,” said the CEO of the world’s largest asset manager. Fink downplayed regulatory changes, arguing broader acceptance and liquidity will drive market expansion. With the firm’s bitcoin ETF reaching $23 billion in inflows, he predicted further growth in digital assets and blockchain’s transformative potential in global finance.
Editor’s comment: BTC ETF inflows have been phenomenal this week, something that no doubt makes Mr. Fink quite happy.
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