Thursday, June 6, 2024

Rich Dad, Poor Dad Author Predicts Bitcoin to Hit $350,000

Renowned personal finance author Robert Kiyosaki has predicted Bitcoin will reach $350,000 by August 25, 2024. The Rich Dad, Poor Dad writer has long been a Bitcoin bull, touting Bitcoin as hard money alternatives.

In a recent X post, Kiyosaki projected Bitcoin to hit $350,000 based on his lack of faith in U.S. leadership. He labelled President Biden, Treasury Secretary Janet Yellen, and Fed Chair Jerome Powell as "the 3 Stooges in real life" and said he was confident in their incompetence.

Kiyosaki advised buying more Bitcoin to protect against poor economic stewardship. He has frequently criticized the U.S. government's stimulus spending and money-printing policies under Biden.

While a long-term Bitcoin believer, Kiyosaki's $350,000 target within two months is an extremely bullish projection. For bitcoin to reach that price by August, it would need to surge over 380% from current levels near $71,000.

Still, the author sees potential for explosive Bitcoin growth ahead, calling his prediction "not a lie." Kiyosaki endorsed Ark Invest's $2.3 million long-term Bitcoin price forecast earlier this year.

The bold projection follows surging inflows into U.S. spot Bitcoin ETFs, which saw their second-highest daily haul ever on Tuesday at over $880 million

Improving mainstream acceptance has buoyed Kiyosaki's outlook. With major financial centres like Australia, the U.K., and the U.S. embracing spot bitcoin ETFs, confidence is rising. 

While $350,000 by August appears overly optimistic, the author advocates Bitcoin's potential as a hedge against what he views as unsound government policies. Kiyosaki urges investors to continue accumulating positions in Bitcoin.

from Bitcoin Magazine - Bitcoin News, Articles and Expert Insights

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