The price of Bitcoin (BTC) will soar past an eye-watering $350,000 by August this year. That’s according to best-selling finance author Robert Kiyosaki, who recently shocked the crypto community with his latest BTC price prognosis.
Gargantuan Gains Incoming For Bitcoin
Robert Kiyosaki, the author of the personal finance book Rich Dad Poor Dad, reiterated his bullish position on the premier cryptocurrency.
In a June 6 post on X, Kiyosaki said Bitcoin (BTC) may be setting up for a rise to $350,000 by August 25, 2024. “It’s a prediction. It’s speculation, it’s an opinion, but it’s not a lie. It’s sucker’s bait, but it’s not a lie because any prediction about the future is not a lie,” he asserted.
The Bitcoin price dipped sharply from a two-month high just shy of $72,000 on Friday following stronger-than-expected jobs data in the US. This data weakens the case for Federal Reserve rate cuts and puts a damper on risk asset prices, Bitcoin included.
However, Kiyosaki is confident the alpha crypto will hit $350,000 sometime this year, though it’s only his “dream and wish” owing to the high volatility of crypto assets. The 77-year-old American businessman envisions Bitcoin’s price continuing to rally alongside Ethereum (ETH) and Solana (SOL). His confidence stems from the fact that he thinks the current leaders in the United States, including President Joe Biden, Treasury Secretary Janet Yellin, and Federal Reserve Chair Jerome H Powell, are completely incompetent.
As a strong supporter of the Bitcoin ecosystem, Kiyosaki recommended his over 2.5 million followers on X purchase more Gold, Silver, Bitcoin, Solana, and Ethereum to protect themselves from these incompetent “3-Stooges”.
For his lofty prediction to happen, Bitcoin would need to jump by over 390% within the next two months. While we gasp at the possibility of Bitcoin reaching 350,000 per coin in August amid massive inflows into spot BTC exchange-traded funds (ETFs), it pays to recall that the flagship cryptocurrency is a hyperbolic asset.
Bitcoin is trading for $69,303 at press time, according to CoinGecko data, showing a 1.7% decline over the past 24 hours.
Can BTC Really Hit Six Figures In 2024?
In April Kiyosaki endorsed the audacious $2.3 million Bitcoin price target put forward by Ark Invest CEO Cathie Woods. While this prediction appears rather unlikely to materialize, Kiyosaki said he believes it because Wood is incredibly smart and has sound judgment.
Notably, not everyone is inclined to agree with Kiyosaki.
Bitcoin analyst and co-founder of CMCC Crest, Willy Woo, told Kiyosaki that Bitcoin could indeed hit $350,000 if the Rich Dad Poor Dad author has a “spare 2.2 trillion dollars lying around to buy BTC before 25th August.”
According to Woo, BTC hitting such sky-high prices in 2024 is highly impossible unless there is a bullish black swan event. However, he thinks BTC can rally towards $350K in 2025 should monetary debasement resume.
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
