Bitcoin Eyes Epic Price Breakout This Week, Ripple Mints 4.5 Million RLUSD Stablecoin in 24 Hours, 'Rich Dad Poor Dad' Author Issues 'Fake USD' Warning to Investors: Crypto News Digest by U.Today
2024-10-15

U.Today presents the top three crypto news stories over the past day.
Bitcoin BTCUSD eyes epic price breakout this week: Details
Yesterday, Bitcoin, the world's largest cryptocurrency, experienced a significant price surge, testing new levels that analysts predict could lead to a breakout and a new all-time high. One such analyst was Michaël van de Poppe; in a recent X post, he wrote that BTC has already reached the $62,000 level and is now "facing the crucial resistance zone," which seems to be around the $65K price level. Van de Poppe expects an upward breakout for Bitcoin to come this week, or the following week, which coincides with the broader market expectation for "Uptober." At the moment of writing, Bitcoin is changing hands at $66,883, up 1.57% over the past 24 hours, per CoinMarketCap.
Ripple mints gigantic 4.5 million RLUSD stablecoin in 24 hours
Ripple Stablecoin Tracker, an X account created to monitor the minting, redemption and transfer of Ripple's stablecoin RLUSD, has reported that yesterday, the fintech company minted 4.5 million RLUSD within 24 hours. The minting occurred at the RLUSD Treasury, with an additional 260,000 RLUSD also minted at the same location. The total amount minted within the aforementioned period reached 4,760,000 RLUSD, and both batches were transferred to unknown wallets. As a reminder, Ripple started testing RLUSD on XRP Ledger and the Ethereum mainnet in early August; the stablecoin is now in private beta on both blockchains, allowing extensive testing before launch. The recent minting activity is part of Ripple's broader strategy to enhance testing in preparation for the anticipated launch of the stablecoin later this year.
"Rich Dad Poor Dad" author issues crucial "fake USD" warning to investors
Robert Kiyosaki, prominent financial guru and the author of "Rich Dad Poor Dad," has recently taken to X platform to address the diminishing value of the U.S. dollar. He wrote that since President Nixon removed the dollar's gold backing in 1971, "the US dollar was propped up via US Treasuries and bonds." After that, the author believes, the currency became "fake." Kiyosaki reiterated key lessons from his book, emphasizing that wealthy individuals do not save "fake U.S. dollars" and cautioning that "your house is not an asset." He also stated that "savers are losers," arguing that saving dollars has become meaningless due to significant devaluation over the decades. Furthermore, Kiyosaki stressed the importance of financial education to navigate the complexities of finance and survive economic challenges.