Robert Kiyosaki, author of the best-selling personal finance book “Rich Dad Poor Dad,” has reignited discussions within the cryptocurrency community by reiterating his bullish stance on Bitcoin, predicting $BTC will reach $300,000 by the end of the year.
In a recent post on the microblogging platform X (formerly known as Twitter), Kiyosaki urged his followers to capitalize on Bitcoin’s current momentum saying it’s “on fire” and suggesting that the “biggest mistake” his followers can make “is to procrastinate.”
Kiyosaki, a vocal advocate for alternative assets, has long positioned Bitcoin, alongside gold and silver, as a hedge against economic instability and over the last three years he has been vocal about his skepticism towards the Federal Reserve’s policies.
He views these real assets as superior stores of value compared to traditional fiat currencies, like the U.S. dollar, which he believes are susceptible to devaluation. Kiyosaki has consistently advised his substantial social media following to shield themselves from that devaluation through these assets.
Kiyosaki’s latest price prediction comes at a time in which Bitcoin managed to climb back to its previous all-time high of $69,000 fueled by institiuional demand coming from spot exchange-traded funds (ETFs) and anticipation surrounding its upcoming halving event.
Bitcoin recently endured a correction that saw its briefly drop below the $60,000 mark before recovering, and it’s now trading close to the $67,000 mark.
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Analysts remain cautiously optimistic about Bitcoin’s future, citing historical precedents, as reported, with one analyst comparing its current performance to that of the 2021 bull run, when BTC saw its price triple within three months of breaking its previous record.
Should history repeat itself, Bitcoin could potentially surpass $200,000 by June, which would see its total market capitalization top $4 trillion.
As CryptoGlobe reported large Bitcoin holders, often referred to as “whales,” are defying historical trends by accumulating the flagship cryptocurrency even as its price rises near record highs.
This whale behavior deviates from historical patterns, where these large investors typically buy during periods of lower prices and sell as prices rise.
Robert Kiyosaki is a financial educator, entrepreneur, and the bestselling author of “Rich Dad Poor Dad,” a book that has become a cornerstone in personal finance literature since its publication in 1997. The book contrasts the financial philosophies of his “Rich Dad,” a savvy businessman, and his “Poor Dad,” a well-educated man with traditional views on money.
Through this juxtaposition, Kiyosaki challenges conventional wisdom about money, investing, and financial education. His work has sold millions of copies globally and has been translated into dozens of languages, making him an international authority on personal finance.
Featured image via Unsplash.
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- Source: https://www.cryptoglobe.com/latest/2024/03/rich-dad-poor-dad-author-bitcoin-btc-price-to-reach-300000-by-year-end/
