Robert Kiyosaki, author of the best-selling personal finance book “Rich Dad Poor Dad,” has made a bold prediction regarding the future value of Bitcoin. Kiyosaki believes the world’s leading cryptocurrency could reach $350,000 by August 25, 2024.
This prediction comes just two months after Kiyosaki publicly expressed his support for Bitcoin as an investment asset. While acknowledging the speculative nature of his forecast, Kiyosaki emphasized his conviction.
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He attributes his optimism not to the inherent qualities of cryptocurrencies themselves, but rather to his perception of economic mismanagement by the current U.S. leadership. Specifically, he cites concerns regarding the policies of President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell.
Kiyosaki’s prediction has been met with mixed reactions within the crypto community. Analyst Willy Woo acknowledges the statistical possibility of Bitcoin reaching $350,000 by 2025 but views it as unlikely for 2024 without a significant, unforeseen positive development for the cryptocurrency market.
Others remain skeptical, highlighting the unlikelihood of Bitcoin achieving such a high valuation in such a short timeframe. It’s important to consider that a price of $350,000 would translate to a market capitalization of $6.9 trillion for Bitcoin, exceeding the combined market value of tech giants Apple and Microsoft.
Kiyosaki’s Past Bitcoin Predictions and Investment Strategy
This is not Kiyosaki’s first foray into Bitcoin price predictions. In February 2024, he forecasted a Bitcoin price of $100,000 by mid-year. At that time, Bitcoin was trading at $52,013, requiring a significant increase of approximately 92.2% to reach the target.
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While Bitcoin’s price has experienced some growth since then, currently sitting at $70,900.56, it falls short of Kiyosaki’s earlier prediction. As of today, Bitcoin would need to appreciate by roughly 40% within the remaining days of June to meet the $350,000 target. Additionally, the current price remains slightly below its all-time high of $73,737.94, recorded in March 2024.
While the accuracy of Kiyosaki’s Bitcoin price prediction remains to be seen, his views on the cryptocurrency market reflect a growing trend of interest and investment in this digital asset class. Investors need to conduct thorough research and due diligence before making any investment decisions, including those related to Bitcoin and other cryptocurrencies.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.
