Renowned personal finance author Robert Kiyosaki has predicted that bitcoin will reach $350,000 by August 25, 2024. The Rich Dad Poor Dad writer has long been a bitcoin bull, promoting bitcoin as an alternative to hard money.
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NEW: Rich Dad Poor Dad author predicts twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin It will reach $350,000 in August 2024.
You are ready? pic.twitter.com/6Isr7UZUVT
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1798632445279097217?ref_src=twsrc%5Etfw”>June 6, 2024
In a recent x.com/theRealKiyosaki/status/1798476195232973066″>x publication, Kiyosaki projected that bitcoin would reach $350,000 due to his lack of faith in American leadership. He called President Biden, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell “the real-life Three Stooges” and said he was confident in their incompetence.
Kiyosaki advised buying more bitcoin to protect against economic mismanagement. He has frequently criticized the U.S. government's money-printing and stimulus spending policies during the Biden administration.
While he is a long-term bitcoin believer, Kiyosaki's target of $350,000 within two months is an extremely bullish projection. For bitcoin to reach that price in August, it would have to rise more than 380% from current levels near $71,000.
Still, the author sees potential for explosive bitcoin growth in the future and calls his prediction “not a lie.” Kiyosaki backed Ark Invest's $2.3 million long-term bitcoin price forecast earlier this year.
The bold projection follows surging inflows into US spot bitcoin ETFs, which on Tuesday recorded their second-highest daily haul in history at more than $880 million.
Improved mainstream acceptance has boosted Kiyosaki's outlook. With major financial centers such as Australia, the UK and the US adopting spot bitcoin ETFs, confidence is increasing.
While $350,000 for 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 positions in bitcoin.
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