Renowned personal finance author Robert Kiyosaki has made a bold prediction that Bitcoin will reach $350,000 by August 25, 2024. The author of the popular book Rich Dad, Poor Dad has long been a strong advocate for Bitcoin, referring to it as a hard money alternative. Kiyosaki’s recent projection is based on his lack of faith in the current U.S. leadership, which he describes as “the 3 Stooges in real life” – President Biden, Treasury Secretary Janet Yellen, and Fed Chair Jerome Powell.
In light of his skepticism towards the U.S. government’s economic policies, Kiyosaki has advised investors to buy more Bitcoin as a hedge against poor economic stewardship. He has been critical of the government’s stimulus spending and money-printing practices under the Biden administration. While Kiyosaki has been a long-term believer in Bitcoin, his $350,000 target within a two-month timeframe represents an extremely bullish projection, requiring a 380% surge from current levels near $71,000.
Despite the ambitious target, Kiyosaki remains confident in Bitcoin’s potential for explosive growth, referring to his prediction as “not a lie.” Earlier this year, he endorsed Ark Invest’s long-term Bitcoin price forecast of $2.3 million. The recent surge in inflows into U.S. spot Bitcoin ETFs, reaching over $880 million in a single day, has further bolstered Kiyosaki’s positive outlook. The increasing mainstream acceptance of Bitcoin, with countries like Australia, the U.K., and the U.S. embracing spot Bitcoin ETFs, has contributed to growing confidence in the cryptocurrency.
While achieving $350,000 by August may seem overly optimistic, Kiyosaki continues to advocate for Bitcoin as a hedge against what he perceives as unsound government policies. He urges investors to consider accumulating positions in Bitcoin as a means of protecting their wealth and capitalizing on potential future growth. As the cryptocurrency market continues to evolve and gain acceptance, Kiyosaki’s bold prediction serves as a testament to the growing influence and potential of Bitcoin in the financial landscape.
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