Robert Kiyosaki the author of “Rich Dad Poor Dad,” also renowned for his financial insights, has publicly disclosed his plan to acquire an additional 10 Bitcoin ahead of the upcoming halving period which falls on April 2024.
This decision underscores his continued bullish outlook on Bitcoin and his belief in its long-term potential as a store of value.
In a post on his X handle, the serial investor expressed his optimism in the price of Bitcoin surging to $100k by September, thereby urging his followers to consider buying the crypto asset.
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He wrote,
“I am buying 10 more Bitcoin before April. Why? The “Having.” If you can’t afford a whole Bitcoin you may want to consider buying 1/10 of a coin, via the new ETFs or Satoshi’s. If the Bitcoin process works as designed you may own a whole Bitcoin by the end of this year. I expect Bitcoin to be $100k by September 2024.
“If you are not into Bitcoin I suggest buying silver coins, preferably US silver eagles. My friend Andy Schectman states the once abundant supply of silver is nearly gone. He has a standing order for $1 million in “junk” silver (pre-64 US silver coins) and can it find pre-1964 silver coins to fill the order.
“Q: Why is this happening?
A: Because the “smart money” knows the US is the biggest debtor nation in the world; China’s property market is “toast;” Japan has been in a Depression since 1990; Germany is sliding into a depression, mom and pop consumers are living on credit cards; banks are in trouble; and the world is on the brink of war.
“Michael Saylor a Bitcoin maxi asks Q: “What do you call people who insist on saving fiat currency…“fake” money?
A: Poor. Michael Saylor, Andy Schectman, and me do not want you to be poor. Please start acquiring gold, silver, and Bitcoin, if you already have not started.
“Of the three, silver is the most affordable for the most people. Bitcoin is about $70,000 a coin. Gold is about $2,500 per coin. Silver is about $35.00 a coin. Please don’t be a poor person saving fake money. Almost everyone in the world can afford at least one silver coin or one Bitcoin Satoshi. Be smart, take action, and take care.”
Robert Kiyosaki known to be a big fan of Bitcoin has on several occasions advocated for the acquisition of the cryptocurrency for investment purposes.
In January this year, Kiyosaki disclosed why he owns Bitcoin, emphasizing his investment strategy, favoring Bitcoin over traditional assets like stocks, bonds, and fiat currencies. According to him, this preference is driven by Bitcoin’s decentralized nature and resistance to inflation. He further commended Bitcoin’s role as a more secure asset.
With the halving period drawing near, the cryptocurrency industry has displayed a significant increase in price volatility. The crypto market is set to pave the path toward a new all-time high (ATH) in the coming time
Also, Bitcoin has experienced a notable surge in hash rate, registering a 15% increase in 2024. This upswing in hash rate suggests that miners are ramping up their operations to optimize earnings before the halving event.
Historical analysis shows a consistent pattern of miner capitulation post-halving, with significant drops in hash rate: 39% in December 2012, 11% in August 2016, and 26% in May 2020.
Considering these precedents, a similar downturn, approximately 25% based on the average of past events, is a reasonable expectation following the next halving.