Renowned financial educator Robert Kiyosaki predicts Bitcoin (BTC) could reach $350,000 by August 2024, driven by his distrust in U.S. fiscal policies and belief in Bitcoin’s scarcity.
Key Takeaways
- Robert Kiyosaki believes Bitcoin will reach $350,000 by August 2024 due to his distrust of U.S. government policies.
- Trader Willy Woo says Bitcoin's bull run will end when everyone has invested, with only 4.7% of market capital currently in Bitcoin.
- Kiyosaki advises buying Bitcoin, gold, and silver to protect against economic problems, emphasizing Bitcoin's limited supply.
Robert Kiyosaki’s Bitcoin Predictions
Financial expert Robert Kiyosaki, author of Rich Dad Poor Dad, recently shared his strong belief in Bitcoin’s future.
He expressed frustration that many people don’t invest in Bitcoin, thinking it’s too expensive.
Kiyosaki disagrees and believes Bitcoin’s price will go even higher. He predicts Bitcoin will reach $350,000 by mid-2024, driven by his distrust of U.S. government policies.
Kiyosaki continues to buy Bitcoin, Ethereum, and Solana, not because he’s sure of their success, but because he doesn’t trust the current economic policies of the U.S. government.
He has criticized President Biden and other officials for their economic decisions.
Trader Willy Woo’s Take on Bitcoin
Trader and crypto entrepreneur Willy Woo responded to the Robert Kiyosaki Bitcoin tweet, offering insight into Bitcoin’s future.
According to Woo, Bitcoin’s bullish run will end when widespread investment is achieved.
Currently, only 4.7% of the free capital on the market has been invested in Bitcoin by financial institutions, suggesting there is still significant room for growth.
Woo’s comments align with Kiyosaki’s view that Bitcoin is still in its early stages of mainstream adoption.
Understanding Kiyosaki’s Predictions for BTC
Kiyosaki’s prediction of Bitcoin reaching $350,000 by August 2024 is very optimistic, as the current price is around $66,000.
This would mean a 380% increase in a short time. His prediction is supported by increasing acceptance of Bitcoin, such as large investments in the U.S.
Bitcoin ETF tracker Farside reported that spot Bitcoin ETFs experienced inflows exceeding $880 million in just one day.
Kiyosaki also agrees with Ark Invest’s forecast that Bitcoin could reach $2.3 million in the long term.
Why Kiyosaki Advocates for Bitcoin Investment
Kiyosaki’s strong advocacy for Bitcoin stems from its capped supply of 21 million, making it a deflationary asset.
Unlike gold and silver, whose supply can increase with higher prices, Bitcoin’s limited supply ensures its scarcity, driving demand.
This characteristic aligns with Kiyosaki’s investment philosophy, which prioritizes assets with finite supply and growing utility.
He often advises investors to buy as much Bitcoin as they can afford, regardless of the amount, stressing the importance of starting to invest to build wealth.
Bitcoin’s Recent Performance and Future
Recently, Bitcoin has been strong, trading around $67,000 with a market cap of $1.25 trillion.
It also recently hit an all-time high of $73,797, driven by institutional investments and the halving event in April.
This event reduced the amount of Bitcoin mined, increasing its scarcity and potentially its price.
Even though Bitcoin has fallen short of its recent high, it remains strong due to significant gains over the past few months.
The Future for Bitcoin Investors
Kiyosaki’s predictions highlight Bitcoin as a hedge against economic problems and poor policies.
His belief in Bitcoin is based on its limited supply, increasing use, and growing interest from institutions.
Whether Bitcoin reaches $350,000 by August 2024 or not, Kiyosaki’s advice is clear — start investing in Bitcoin to build a more secure financial future.
