Robert Kiyosaki's Bitcoin prediction
Robert Kiyosaki, the author of "Rich Dad, Poor Dad," has made a bold prediction: Bitcoin could reach a value of $350,000 by August 25, 2024. He attributes this prediction to his distrust of the current U.S. government, specifically calling President Biden, Treasury Secretary Janet Yellen, and Fed Chairman Jerome Powell incompetent.
Kiyosaki has long been critical of U.S. economic policies, including stimulus spending (government stimulus programs) and money printing (the process of generating money by a central bank). He sees Bitcoin as a hedge against what he sees as poor economic management by the government.
Drastic increase in Bitcoin price
His prediction suggests a drastic increase in Bitcoin price, which would require a jump of over 380% from the current price of around $71,000. Despite the seemingly ambitious nature of his prediction, Kiyosaki's outlook is bolstered by recent large capital inflows into US spot Bitcoin ETFs (exchange-traded funds) and growing institutional adoption in major financial markets such as Australia, the UK and the US.
Kiyosaki’s recommendation and views on Bitcoin
Kiyosaki has previously supported major price predictions for Bitcoin, endorsing a prediction by Ark Invest that predicts a potential rise in the price of Bitcoin to as high as $2.3 million. He continues to recommend buying Bitcoin, seeing it as an essential investment to offset risky government fiscal policies (uncertain government fiscal policies). He encourages investors to continue to build their Bitcoin holdings, viewing the cryptocurrency as an important safe haven asset (safe haven asset).
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