Renowned author Robert Kiyosaki has made a bold prediction about Bitcoin, forecasting that the cryptocurrency will reach $350,000 by August 25, 2024. Kiyosaki, known for his book “Rich Dad Poor Dad,” emphasized that this prediction is based on his speculation and opinion, not a lie. He attributes his optimism to what he perceives as the incompetence of current U.S. leadership, particularly President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell.
This prediction has stirred up various reactions within the community. While analyst Willy Woo believes that a $350,000 price is statistically possible by 2025 in case of monetary debasement, he deems it unlikely for 2024 without a significant bullish event. Some express skepticism about the projection, arguing that the likelihood of Bitcoin reaching such a high price is very slim. To put it into perspective, achieving this price would push Bitcoin’s market cap to $6.9 trillion, surpassing the combined valuations of tech giants Apple and Microsoft.
This is not the first time Kiyosaki has made a Bitcoin prediction. In February, he forecasted that Bitcoin would hit $100,000 by mid-year when the price was $52,013, requiring a 92.2% increase to reach the target. Currently, Bitcoin is priced at $70,965.41, representing a 0.10% rise in the last 24 hours and a 4.28% increase over the past week. To meet Kiyosaki’s $100,000 target, Bitcoin would need to surge by 40% this month. The current price is 3.82% lower than its all-time high of $73,737.94 in March 2024.
In terms of his investment strategy, Kiyosaki has been vocal about his support for Bitcoin, Ethereum, and Solana. He announced plans to purchase a minimum of 10 Bitcoin tokens by April, an investment totaling approximately $709,650 at current prices. This decision coincided with the Bitcoin halving event on April 20, which reduced miners’ rewards from 6.25 BTC to 3.125 BTC per block, thereby increasing the scarcity of Bitcoin.
It is important to note that this content is for informational purposes and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not liable for any financial losses.