Robert Kiyosaki predicts Bitcoin will hit $350,000 by August 2024, citing U.S. management incompetence and ongoing assist for crypto.
Two months after expressing his assist for Bitcoin, “Wealthy Dad Poor Dad” writer Robert Kiyosaki has taken to X with a daring prediction. Kiyosaki forecasts that Bitcoin will attain $350,000 by August 25, 2024, labeling it a prediction, hypothesis, and opinion, however not a lie.
BITCOIN shall be $350,000 by August 25, 2024 will not be a lie. It’s a prediction. It’s hypothesis, it’s an opinion, but it surely’s not a lie. It’s suckers bait, but it surely’s not a lie becuase any prediction concerning the future will not be a lie. I would like $350,000 BITCOIN to be a truth, and I would like it to…
— Robert Kiyosaki (@theRealKiyosaki) June 5, 2024
Emphasizing his confidence, Kiyosaki attributes his optimism to not the cryptocurrencies themselves however to his perceived incompetence of present U.S. management, particularly President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell.
This prediction has sparked various reactions from the group. Analyst Willy Woo prompt that whereas a $350,000 value is statistically attainable by 2025 if financial debasement resumes, it stays unlikely for 2024 with out a unprecedented bullish occasion.
Statistically attainable in 2025 if financial debasement resumes.
Subsequent to no likelihood in 2024 exterior of a bullish black swan.
— Willy Woo (@woonomic) June 6, 2024
Others have expressed doubt concerning the projection, contending that the probabilities of Bitcoin attaining this value are extraordinarily low. For context, such a value would push Bitcoin’s market cap to $6.9 trillion, larger than the mixed valuations of tech behemoths Apple and Microsoft.
A Historical past of Bitcoin Predictions
This isn’t Kiyosaki’s first Bitcoin prediction. In February, he projected that Bitcoin would hit $100,000 by mid-year. At the moment, Bitcoin’s value was $52,013, requiring a 92.2% enhance to fulfill its goal.
Nonetheless, Bitcoin’s value stands at $70,965.41, displaying a 0.10% enhance during the last 24 hours and a 4.28% rise over the previous week. BTC would nonetheless want to extend 40% this month to hit Kiyosaki’s goal. The present value is 3.82% decrease than its all-time excessive of $73,737.94 recorded in March 2024.
Kiyosaki’s Funding Technique
In the meantime, Kiyosaki has been vocal about his funding technique, advocating for Bitcoin, Ethereum, and Solana. He beforehand introduced plans to purchase no less than 10 Bitcoin tokens by April, an funding of roughly $709,650 at present costs.
Notably, his determination aligned with the Bitcoin halving occasion that occurred on April 20. This occasion decreased miners’ rewards from 6.25 BTC to three.125 BTC per block, successfully making Bitcoin scarcer.
Disclaimer: This content material is informational and shouldn’t be thought of monetary recommendation. The views expressed on this article could embody the writer’s private opinions and don’t replicate The Crypto Primary’s opinion. Readers are inspired to do thorough analysis earlier than making any funding choices. The Crypto Primary will not be chargeable for any monetary losses.
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