American businessman and author of “Rich Dad, Poor Dad”, Robert Kiyosaki has predicted that the price of Bitcoin will surge to $350,000 in 2024.
Amid the current price fluctuations of Bitcoin price between the $60,000 and $70,000 mark, the serial entrepreneur expressed confidence that the price of the crypto asset will surge massively before the end of the year.
He wrote on his X handle,
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“BITCOIN will be $350,000 by August 25, 2024, is not a lie. It’s a prediction. It’s speculation, it’s an opinion, but it’s not a lie. It’s suckers bait, but it’s not a lie because any prediction about the future is not a lie. I want $350,000 BITCOIN to be a fact, and I want it to be true…. but it is only a prediction. I am confident Bitcoin will hit $350,000 sometime in 2024 but for it’s only a target, a dream, and a wish.”
He further disclosed his plan to keep buying more Bitcoin, Ethereum, and Solana, stating that he is quite certain that their prices will continue to rise. Also, he attributes the potential surge to what he described as the incompetence of key U.S leaders.
“I keep buying more Bitcoin, Ethereum, and Solana, because quite certain their prices will continue to rise. Why am I so confident? Is it because I am certain about BC, Ethereum, and Solana? My answer is “No.” What I am confident of is the incompetence of our leaders, President Biden, Treasury Secretary Yellin, and Fed Chair Powell. Those three are the 3-Stooges in real life and I am certain, I am very confident about their incompetence. Take care. Buy more Gold, Silver, Bitcoin, Solana, and Ethereum. Protect yourself from the 3- Stooges”, he added.
Kiyosaki’s recent prediction on the price of Bitcoin has sparked widespread discussion in the crypto community. Several crypto enthusiasts have expressed concerns that his prediction is flawed, citing previous calls he has made which have not played out yet.
Meanwhile, renowned Bitcoin analyst Willy Woo agrees with Kiyosaki’s prediction, however, he claims that such will only occur if monetary debasement resumes.
He wrote,
“Statistically possible in 2025 if monetary debasement resumes. Next to no chance in 2024 outside of a bullish black swan.”
The price of Bitcoin is currently trading at around $67,540 as at the time of writing this report, with the market braced for what’s likely to be a game-changing 2024 presidential election.
Against the backdrop of the recent surge in Bitcoin’s value, well-known cryptocurrency analysts have predicted the price of BTC to rise by over 18%, sending prices to unprecedented heights following a bullish breakout from a bullish pennant pattern.
While Kiyosaki has continued to advise crypto investment, it is worth noting that Digital assets have experienced a notable increase in investments, with inflows into various cryptocurrency products reaching $2 billion in June.
This substantial infusion is reported to have boosted the total assets under management (AUM) across different platforms, pushing it beyond the $100 billion threshold, a level not seen since March 2024. Exchange-traded products (ETPs) dealing in cryptocurrencies also experienced a 55% increase in trading volumes, soaring to $12.8 billion in the initial week of June.
Notably, investment in Ethereum products has recorded the best week since March, capturing $69 million in inflows. This move aligns with the latest approval of Ether-based spot Exchange-Traded Funds (ETFs) by the Securities and Exchange Commission (SEC).
Meanwhile, Bitcoin remains a dominant force in the ETP landscape, with $1.97 billion recorded for the week, underscoring its continued appeal to the investment community. This revitalization of the crypto investment landscape in June demonstrates a robust rebound and dynamic market adaptability to global economic shifts.