Robert Kiyosaki, the celebrated author of ‘Rich Dad Poor Dad,’ has adjusted his Bitcoin (BTC) forecast, setting a new target of $150,000. Kiyosaki’s bold came amidst the introduction of a spot Bitcoin Exchange-Traded Fund (ETF), a development that has been eagerly awaited by the cryptocurrency community.
Expressing his satisfaction with his early investment in Bitcoin, Kiyosaki wrote, “BITCOIN ETF. Yay. Glad I bought years ago. Bitcoin to $150k soon.”
Kiyosaki also shared insightful perspectives on gold and silver, predicting a soaring future for gold with central bank backing. Conversely, he foresees a dip in silver prices as inflation prompts sales by silver stackers. However, despite the silver downturn, Kiyosaki foresaw an opportunity, advising that it was a great time for silver investors to buy more coins.
Kiyosaki did not mince words in a critical assessment of fiat currency, stating, “It’s all good news except for losers who save fake fiat US dollars. I will be buying more gold, silver, & Bitcoin with fake dollars.” His distrust of traditional currencies aligns with his long-standing advocacy for decentralized and inflation-resistant assets like Bitcoin.
In a follow-up tweet on Thursday, Kiyosaki raised concerns about the economic policies of the White House, Treasury, and the Federal Reserve. He contemplated the possibility of hyperinflation and took proactive measures, stating, “That’s why I bought 5 more Bitcoin today. What are you going to do? Trust yourself not our leaders. They’re losers with PhDs.”
Kiyosaki has consistently emphasized the potential financial advantages for Bitcoin holders compared to those sticking to conventional savings methods and waiting for the government to aid them.
Kiyosaki’s insights come amidst volatility in Bitcoin prices attributed to fake news surrounding the approval of a Bitcoin ETF on Monday. And despite the regulatory agency finally granting approval for the much-anticipated product on Wednesday, Bitcoin continued to exhibit lacklustre movements on Thursday.
Analysts attribute this weakness to several factors, including the possible wiping out of leveraged positions on Tuesday. Analyst “British Hodl” believes those who sought entry before the spot ETF approval could have already invested. He also underscored that only after 9:30 am on Thursday can the ETFs actively begin accepting capital, initiating the process of acquiring Bitcoin.
“Just because the price has not moved yet does not mean that “it was priced in”…We *could* see a price of $50k-$57k by close of trading on Friday. The buying pressure has not even STARTED yet.” Wrote the pundit.
At press time, BTC was trading at $47,815 after a mere 0.28% surge over the past 24 hours. Notably, its trading volume has shot up 37% to $52 billion over the past day.