Robert Kiyosaki, the famous author of "Rich Dad Poor Dad," made headlines with his bold prediction about Bitcoin price. As per a news report on Benzinga, he believes Bitcoin will reach $350,000 by August 2024.
Quick Take
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Robert Kiyosaki, renowned author of "Rich Dad Poor Dad," predicts that Bitcoin will hit $350,000 by August 2024. This projection has captured the attention of the crypto community and investors worldwide.
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Kiyosaki continues to invest heavily in cryptocurrencies, including Bitcoin, Ethereum, and Solana. He believes these assets will see significant value increases.
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Despite Bitcoin’s bullish trends, experts consider Kiyosaki's prediction unrealistic. Bitcoin has grown by 70% year-to-date, but reaching $350,000 would require a nearly 5X increase from its current price.
BTC/USDT price chart | Source: KuCoin TradingView
Kiyosaki's Bold Projection
On Wednesday, Kiyosaki took to social media platform X to share his staggering prediction. He stated, "It's a prediction. It's speculation, it's an opinion, but it's not a lie." He expressed confidence that Bitcoin will hit $350,000 sometime in 2024, calling it a target, dream, and wish.
Kiyosaki's Continued Crypto Investment
Kiyosaki mentioned he is buying more Bitcoin, Ethereum, and Solana. He believes these cryptocurrencies will continue to soar in value. He also criticized President Joe Biden, Treasury Secretary Yellen, and Fed Chair Powell, dubbing them the "3 Stooges."
"What I am confident of is the incompetence of our leaders, President Biden, Treasury Secretary Yellin, and Fed Chair Powell. Protect your self from the 3- Stooges."
Market Reactions
Kiyosaki has a history of making bold predictions. Earlier this year, he predicted Bitcoin would hit $100,000 by June 2024. With Bitcoin's price trajectory, this seems unlikely now. His latest prediction of $350,000 by August 2024 suggests a nearly 5X jump from its current price.
Experts view this forecast as unrealistic. Despite bullish catalysts like spot Bitcoin ETFs, Bitcoin has grown just 70% year-to-date. However, steady growth is expected due to demand from permanent holders and whales, according to Julio Moreno, Head of Research at CryptoQuant.
Kiyosaki's predictions continue to stir the crypto community. While his bold forecasts attract attention, market experts remain cautious. Keep an eye on Bitcoin's performance as these predictions unfold.
