Highlights:
- Robert Kiyosaki, author of “Rich Dad Poor Dad,” predicts Bitcoin will reach $350,000 by August this year.
- Kiyosaki’s bold prediction follows a surge in inflows into U.S. spot Bitcoin ETFs, which saw their second-highest daily inflow ever with over $880 million.
- For Kiyosaki’s prediction to come true, Bitcoin would need to rise by 392% in the next two months, a scenario deemed highly unlikely.
Bitcoin has witnessed a fair share of ups and downs in the market since its inception. However, recent times have been more volatile for this popular cryptocurrency. However, there have been some dedicated investors who have unflinching faith in its growth. Robert Kiyosaki surely is one of them. There is no doubt that BTC is the largest cryptocurrency by market cap. However, Robert’s prediction adds to the status of the crypto asset as a value store and a great alternative to investment at a time when the world is plunged into economic uncertainties.
What did Robert Kiyosaki predict?
Popular Bitcoin investor and author of “Rich Dad, Poor Dad,” Robert Kiyosaki, has made a striking forecast. Amid market optimism and favourable conditions, he predicts that Bitcoin will reach $350,000 by August this year. In a recent X post, Kiyosaki predicted that Bitcoin will reach $350,000. He based this prediction on his lack of faith in U.S. leadership. He described President Biden, Treasury Secretary Janet Yellen, and Fed Chair Jerome Powell as “the 3 Stooges in real life” and expressed confidence in their incompetence.
BITCOIN will be $350,000 by August 25, 2024 is not a lie. It’s a prediction. It’s speculation, it’s an opinion, but it’s not a lie. It’s suckers bait, but it’s not a lie becuase any prediction about the future is not a lie. I want $350,000 BITCOIN to be a fact, and I want it to…
— Robert Kiyosaki (@theRealKiyosaki) June 5, 2024
Kiyosaki recommended buying more Bitcoin to protect against poor economic management. He has frequently criticised the U.S. government’s stimulus spending and money-printing policies under Biden. Kiyosaki’s $350,000 target for Bitcoin within two months is highly optimistic. For Bitcoin to reach that price by August, it would need to increase by over 380% from its current level of around $71,000.
Despite this, he believes in Bitcoin’s potential for significant growth. He called his prediction “not a lie.” Earlier this year, he supported Ark Invest’s long-term Bitcoin price forecast of $2.3 million. This bold prediction comes after a surge in inflows into U.S. spot Bitcoin ETFs. On Tuesday, these ETFs saw their second-highest daily inflow ever, with over $880 million.
What’s The Real Picture?
For Kiyosaki’s bullish prediction to come true, Bitcoin would need to rise by 392% in the next two months. Despite recent excitement over rising Bitcoin ETF inflows, this scenario seems highly unlikely. At the same time, Galaxy Digital CEO Mike Novogratz predicted Bitcoin could reach $100,000 or more this year if it surpasses $73,000. Fundstrat’s Tom Lee also believes Bitcoin could reach $150,000. However, even the biggest Bitcoin enthusiasts agree that Kiyosaki’s target is too optimistic.
Also read: Bitcoin Heading to $60K: Altcoins Price Prediction
