Popular personal finance author Robert Kiyosaki has predicted that Bitcoin will reach $350,000 by August 25, 2024. The Rich Dad Poor Dad author has long been a Bitcoin proponent, promoting Bitcoin as alternatives to hard money.
New: Rich Dad, Poor Dad author predicts #Bitcoin It will reach $350,000 by August 2024.
are you ready? 🙌 pic.twitter.com/6Isr7UZUVT
– Bitcoin Magazine (@BitcoinMagazine) June 6, 2024
at recent days Share XKiyosaki predicted that the price of Bitcoin would reach $350,000 due to his lack of confidence in American leadership. He called President Biden, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell “the Three Stooges in real life” and said he was confident of their incompetence.
Kiyosaki advised buying more Bitcoin to protect against poor economic management. He has often criticized the US government's stimulus spending and money-printing policies under Biden.
Despite being a long-term Bitcoin believer, Kiyosaki's target of $350,000 within two months is a very bullish prediction. For Bitcoin to reach that price by August, it would need to rise more than 380% from current levels near $71,000.
However, the author sees the potential for massive growth in Bitcoin in the future, calling his predictions “not a lie.” Kiyosaki endorsed Ark Invest's long-term Bitcoin price forecast of $2.3 million earlier this year.
This bold prediction comes on the heels of surging inflows into US spot bitcoin ETFs, which saw their second-highest daily volume ever on Tuesday at more than $880 million.
Improving mainstream acceptance has boosted Kiyosaki's prospects. With major financial centers such as Australia, the UK and the US embracing Bitcoin ETFs, confidence is on the rise.
While $350,000 by August seems overly optimistic, the author defends Bitcoin's potential as a hedge against what he sees as unsound government policies. Kiyosaki urges investors to continue accumulating their positions in Bitcoin.