Renowned author of “Rich Dad Poor Dad,” Robert Kiyosaki, has made a bold prediction regarding Bitcoin’s future. Kiyosaki forecasts that by August 25, 2024, Bitcoin will reach a staggering $350,000. While he acknowledges that this prediction is based on speculation and opinion, he firmly believes it is not a lie.
Kiyosaki attributes his bullish outlook not to the intrinsic value of cryptocurrencies, but rather to his lack of confidence in the current U.S. leadership, including President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell.
This forecast has elicited a range of reactions from the community. Some analysts, like Willy Woo, suggest that achieving a $350,000 price for Bitcoin by 2025 is statistically possible if monetary debasement continues. However, they believe it is unlikely to happen by 2024 without a significant bullish catalyst.
Others are more skeptical, questioning the feasibility of Bitcoin reaching such a high price. To put it into perspective, a $350,000 price tag would give Bitcoin a market cap of $6.9 trillion, surpassing the combined valuations of tech giants Apple and Microsoft.
This is not the first time Kiyosaki has made a bold Bitcoin prediction. In February, he anticipated that Bitcoin would hit $100,000 by mid-year. With Bitcoin’s current price at $70,965.41, a 40% increase is needed this month to meet Kiyosaki’s target. Despite a 0.10% increase in the last 24 hours and a 4.28% rise over the past week, Bitcoin’s price is still 3.82% lower than its all-time high reached in March 2024.
In terms of investment strategy, Kiyosaki has been vocal about his support for Bitcoin, Ethereum, and Solana. He recently disclosed plans to purchase at least 10 Bitcoin tokens by April, amounting to around $709,650 at current prices. This decision coincided with the Bitcoin halving event on April 20, which reduced miners’ rewards and made Bitcoin scarcer.
It is important to note that this content is for informational purposes only and should not be construed as 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 incurred.