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Time of India
9 hours ago
- Business
- Time of India
Bitcoin creator Satoshi Nakamoto may soon be richer than Warren Buffett, and Zuckerberg could be next
Satoshi Nakamoto, Bitcoin's creator, may soon become wealthier than Warren Buffett. A price surge could elevate Nakamoto's fortune. Nakamoto holds a substantial amount of Bitcoin. This holding is currently valued at over $120 billion. Tired of too many ads? Remove Ads Bitcoin's Price Surge Boosts Satoshi Nakamoto's Fortunes A Billionaire Who Never Cashed Out Tired of too many ads? Remove Ads FAQs The mysterious creator of Bitcoin, known as Satoshi Nakamoto , whose real identity is still unknown, will soon overtake the billionaire investor Warren Buffett in wealth and potentially Meta CEO Mark Zuckerberg next, as per a to Bloomberg ETF analyst Eric Balchunas, if Bitcoin continues its historical pace and rises 50% this year, in line with its long-term average, Satoshi's fortune could surpass Buffett's, according to The Street. The pseudonymous creator of Bitcoin is believed to hold approximately 1.096 million BTC, none of which have ever been moved or sold, as per the Bitcoin's current price of approximately $109,874, Nakamoto's holding is worth over $120 billion, ranking him the 11th wealthiest person in the world, and he is now still behind Buffett's net worth of approximately $157.5 billion as of June 2, according to The Street. Nakamoto would need about $37 billion more to exceed Buffett's wealth, given Bitcoin's price and Buffett's assets remain unchanged, reported The READ: Rich Dad Poor Dad author Robert Kiyosaki predicts greatest market crash in history – are you prepared? Balchunas wrote in a social media post that, "It's fascinating to ponder that the founder of something so successful never cashed in," quoted The Street. The analyst also compared the pseudonymous creator of Bitcoin's move to the Vanguard founder, Jack Bogle, who revolutionised investing but didn't pursue maximal personal wealth, as per the Bogle has previously said, "There is nothing for Bitcoin, except the hope that you would sell out to somebody for more than you were paid for," quoted The Street. The Vanguard founder wanted people to avoid Bitcoin "like the plague," reported The is the pseudonymous creator of Bitcoin, as per The Street. No one knows their real identity, it could be one person or a is believed to hold around 1.096 million BTC, mined during Bitcoin's earliest days and never moved, as per The Street.
Time of India
12 hours ago
- Business
- Time of India
Silver price jumps by Rs 3,500 in just 2 days. Is a new all-time high in sight soon?
Silver prices have surged sharply over the last two trading sessions, rising by Rs 3,500 to cross the Rs 1 lakh per kilogram mark on the Multi Commodity Exchange (MCX). On Tuesday, silver July contracts touched an intraday high of Rs 1,00,555/kg, while in the previous trading session, the same settled at Rs 1,01,011/kg, up more than 4% in a single day. This was largely driven by a wave of safe-haven buying that also pushed global silver prices to a two-month high. The silver July contracts made a lifetime high of Rs 1,03,704/kg earlier in March this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thị trường có dấu hiệu suy thoái không? IC Markets Đăng ký Undo The sharp rally in silver has been fueled by renewed geopolitical and economic concerns, prompting investors to turn to bullion for stability. Rising tensions between Russia and Ukraine, including escalated military activity ahead of peace talks, have heightened global uncertainty. Additionally, market sentiment turned defensive after U.S. President Donald Trump announced plans to double tariffs on steel and aluminium imports, while accusing China of violating a trade truce related to critical minerals. These developments, combined with bearish sentiment in the U.S. Dollar Index and subdued economic confidence, have made silver increasingly attractive as a store of value. Live Events The metal is widely seen as a safe-haven asset during times of geopolitical unrest and monetary policy uncertainty, particularly in low-interest-rate environments. Also read: Crash time is now: Kiyosaki urges dumping 'fake money' for silver, predicts 3x surge Are silver prices heading towards lifetime high soon? Analysts believe that silver may continue its upward trajectory in the near term. Rahul Kalantri, Vice President at Mehta Equities, stated that silver has support at Rs 100,260–99,350 and sees resistance emerging in the range of Rs 1,01,750–1,02,550. Axis Securities echoed a bullish outlook, recommending a buy on MCX Silver above Rs 98,500 with targets of Rs 1,01,500 and Rs 1,03,000, which is near its all-time high. Their technical view suggests a 'sideways to mildly positive bias' despite a bearish crossover on the MACD indicator, with the 20-week SMA acting as a key support during pullbacks. Adding to the momentum, Robert Kiyosaki, author of Rich Dad Poor Dad, described silver as 'the biggest bargain today' and suggested it 'may 3X' by 2025. He emphasized that silver remains 60% below its all-time highs and is still trading around $35 an ounce, presenting what he called the 'biggest bargain today' in the face of a potential crash in global stock, bond, and real estate markets.
Yahoo
19 hours ago
- Business
- Yahoo
'Rich Dad Poor Dad' author warns 'the biggest crash in history is coming'
'Rich Dad Poor Dad' author warns 'the biggest crash in history is coming' originally appeared on TheStreet. Robert Kiyosaki, the author of the bestselling book "Rich Dad Poor Dad," has issued another stern warning about the market. The personal finance writer recently took to X to voice his persistent concern about "the biggest crash in history" that he says is coming as predicted in his book, "Rich Dad's Prophecy" (2013). When the stock, bond, and real estate markets crash this summer, millions of people, "especially my generation of boomers," will be wiped out, he warned. However, Kiyosaki seemed to offer a way out to "proactive" individuals who can not only survive this crash but may even become "extremely rich." Billions of traders will shift to gold and Bitcoin — the "digital gold," as Bitcoin proponents like to call it, Kiyosaki predicted. He placed his biggest bet on silver, though: In 2025 silver may 3X. As per Kraken, Bitcoin was quoted at $104,446.51 at press time, 6.7% lower than its May 22 record high of $111,970.17. Gold was trading at $3,372.30 per oz. at press time, 4% lower than its Apr. 22 record high of $3,500. Meanwhile, silver was exchanging hands at $34.58 at press time, 30% lower than its record high of $49.95 per oz. that it reached way back in January 1980. It is this price dynamic of silver that Kiyosaki said he was going to exploit. Gold and Bitcoin are also on his cards. The bestselling author asked his X followers: What are you going to do tomorrow….grow richer or grow poorer? Please choose to get richer. Kiyosaki's "Rich Dad Poor Dad" discusses two distinct financial mindsets: one believing in job security and savings, and another believing in investing and asset ownership to achieve financial independence. The author vouches for the latter. Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing. 'Rich Dad Poor Dad' author warns 'the biggest crash in history is coming' first appeared on TheStreet on Jun 2, 2025 This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
a day ago
- Business
- Miami Herald
Wells Fargo faces another scandal (along with other big banks)
Big banks seem to get away with everything short of murder. Considering how regulated they supposedly are, you'd think they'd be a little more careful about how they do business. But that's not the case. Just look at some of the transgressions banks have been busted for in the last couple of years. Don't miss the move: Subscribe to TheStreet's free daily newsletter Take overdraft fees. Did you know that even if an overdraft occurs due to the bank's own processing error, they will sometimes charge the customer a fee? Banks have also been able to charge multiple fees for a single overdraft transaction - in other words, if you make one mistake, you can be charged multiple times. Banks have also been busted for using customers' personal information to conduct unauthorized credit checks and even open new, aka fraudulent, accounts without the customer's permission. Sometimes they get a proverbial wrist slap - usually in the form of a lawsuit - but too often even after they're forced to pay huge settlements they carry on, bad business as usual. Related: 'Rich Dad Poor Dad' author makes dire prediction, warns on 401(k)s Among the latest troubling practice banks are getting busted for is alleged unlawful harassment related to debt collection. If you happen to live in California, Connecticut, Florida, Maryland, Massachusetts, Michigan, North Carolina, Pennsylvania, or Texas, you might have the right to fight back against your bank for debt-collection harassment and even get compensated for it. Enter the lawyers. So when was the last time you ignored a call from an unknown number? Probably within the last hour. But what happens when those calls come repeatedly and they happen to be from a debt collector, including a bank or credit card company? And what if the calls are about debt that isn't even yours but belongs to a relative? From student loans to credit cards, banks and debt collections have ramped up their "outreach" in recent years. But there is a difference between collecting on a debt and hassling someone over the phone, especially considering sometimes the debt doesn't even belong to the person getting the calls, according to the Consumer Financial Protection Bureau (CFPB). In some cases, people report getting calls about debt owed by people they don't even know. Related: Credit cards are about to get more expensive Part of the problem is that the calls often come from robocall systems that don't give you a way to opt out of receiving the call. Here's the bottom line: If debt collectors won't leave you alone, even after you've told them to stop, you might be able to do something about it. Under federal law, debt collectors can't harass you. But the states listed above go further, offering additional protections and giving consumers the right to sue for damages. That means you don't have to keep explaining that "the person you're looking for doesn't live here." You don't have to keep hitting "decline." You don't have to just live with it. More on credit cards: Chase revokes a major privilege customers love in 'calculated' moveHow much credit card debt does Americans have on average Dave Ramsey shares important advice about your credit card If you think a debt collector has violated the Fair Debt Collection Practices Act (FDCPA), you can sue them for damages. And if you prove a violation occurred, you may be awarded $1,000 in damages, plus additional compensation for any actual harm they caused. If you win, the collector may also be responsible for paying your lawyer fees and costs. There are lawyers who specialize in this type of lawsuit, but you can also go to court without a lawyer, according to the CFPB. Banks have been sued over these kinds of practices in the past, and lost. Capital One and Wells Fargo have both reached multimillion-dollar settlements after being accused of making robocalls without consent. Navient has faced legal action from both states and borrowers over aggressive tactics tied to student loan debt. In fact, class action lawsuits have become one of the most powerful tools consumers have to hold companies accountable, especially when it comes to abusive or misleading debt collection practices. These lawsuits often end in payouts for eligible consumers, and force companies to change how they operate - at least temporarity. Individuals who have received harassing, abusive or otherwise unlawful debt collection calls may be eligible to join ongoing investigations into these alleged practices if they have come from the following: American ExpressChase BankComenityCredit OneSynchronyWells FargoNavient (student loans)Bank of AmericaCapital OneCitibankDiscoverGoldman Sachs Related: Legendary diner featured in Visa commercial closes after 40 years The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Economic Times
2 days ago
- Business
- Economic Times
Crash time is now: Kiyosaki urges dumping ‘fake money' for silver, predicts 3x surge
Robert Kiyosaki, author of the best-selling personal finance book Rich Dad Poor Dad, on Monday warned that the 'biggest crash in history' could begin this summer, urging investors to move out of stocks and bonds and into alternative assets like gold, silver, and Bitcoin. ADVERTISEMENT In a post on microblogging site X (formerly Twitter), Kiyosaki wrote, 'Do not say I didn't warn anyone.' Referencing his 2013 book Rich Dad's Prophecy, he said, 'As predicted in my book Rich Dad's Prophecy (2013) the biggest crash in history is coming. I am afraid that crash time is now and through this summer.' Kiyosaki cautioned that 'millions, especially my generation of boomers will be wiped out when the stock and bond markets crash,' while adding that 'millions who are proactive may become extremely rich… and as you know….I want you to be one of those who become very rich.' Kiyosaki said the downturn would not be limited to equities and bonds. 'Over this summer, as stock, bond, and real estate markets crash… billions will rush into gold, silver, and Bitcoin,' he these assets, he emphasized silver as the most undervalued: 'The biggest bargain today is silver. In 2025 silver may 3X.' He added that silver remains significantly below its historical peak: 'The better news is silver is still 60% under all time highs…. still about $35….while gold and Bitcoin are at or near all time highs.' ADVERTISEMENT Reiterating his preference for physical assets over paper investments, he said, 'Tomorrow I am going to my local gold and silver dealer and trading fake money for real silver…. no ETFs…. the biggest bargain today.' Kiyosaki urged his followers to take immediate action. 'Silver is priced around $35 an ounce which means almost everyone anywhere in the world….has a chance to grow richer…while millions grow poorer.' He concluded the post with a direct question: 'What are you going to do tomorrow….grow richer or grow poorer? Please choose to get richer. Take care.' Monday's post builds on a series of escalating warnings issued by Kiyosaki in recent weeks. On May 19, he predicted that central banks themselves could be at the center of the next financial meltdown, urging individuals to 'bail yourself out' with gold, silver, and Bitcoin. He questioned who would save monetary authorities like the U.S. Federal Reserve and cited economist Jim Rickards' concern over the $1.6 trillion U.S. student loan burden as a potential trigger. ADVERTISEMENT Earlier, on May 20, Kiyosaki reacted to Moody's downgrade of the U.S. credit rating by likening the country to 'a dead-beat dad who is spending borrowed money, without a job, and not taking care of his family.' He said the downgrade could usher in conditions similar to the 1929 Depression and again advised investing in alternative assets and adopting an entrepreneurial traces the root of systemic fragility to the U.S. abandoning the gold standard in 1971. 'Each crisis gets bigger because they never solve the problem… a problem which started in 1971 when Nixon took the US Dollar off the gold standard,' he wrote. Kiyosaki has consistently promoted silver as the most accessible path to wealth for everyday investors. In April, he said silver was 'the hottest investment today' and predicted it would double to $70 an ounce in 2025. He emphasized its affordability: 'Almost everyone in the world can afford at least one ounce of silver.' ADVERTISEMENT While Kiyosaki has advocated for gold and Bitcoin as well, he has increasingly emphasized silver's potential to outperform in the short term, citing both financial instability and its industrial demand. Kiyosaki's overall message remains anchored in distrust of fiat currency, which he routinely calls 'fake money.' As he wrote in May, 'As I have been warning for years the best way to protect your self is not by saving fake fiat money. As I stated over 25-years ago, in Rich Dad Poor Dad, 'The rich don't work for money' and 'Savers are losers.'' In calling for a shift away from traditional financial strategies, he has urged individuals to become self-reliant through asset accumulation and entrepreneurship: 'You bail you and your family out by saving real gold, silver, and Bitcoin… No ETFs.' ADVERTISEMENT Also read | Rich Dad, Poor Dad author Kiyosaki warns U.S. debt downgrade signals 1929 Depression, urges buying gold, silver, Bitcoin with entrepreneurial mindset (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
