“Rich Dad Poor Dad” Author Robert Kiyosaki has issued a major price target for Bitcoin (BTC), projecting a $100K price by the middle of the year.
Known as a major advocate of Bitcoin, Robert Kiyosaki recently revealed on X that the price of Bitcoin is poised to touch $100,000 by June this year. This forecast is the latest prediction from the iconic author, whose target for Bitcoin has changed in different ways over the past few months.
BITCOIN to $100k by June 2024.
— Robert Kiyosaki (@theRealKiyosaki) February 18, 2024
For the price of Bitcoin to surge toward the $100,000 price mark, it will have to grow as high as 92.2% from its current level of $52,013. High as this target is, the “Rich Dad Poor Dad” author is convinced his forecast is imminent.
Bitcoin as Hedge Against Inflation
One of the most important arguments often tendered by Robert Kiyosaki in support of Bitcoin’s growth potential is the coin’s immunity against macro-economic uncertainties.
Kiyosaki has always been calling attention to the impending stock market, banking and broader global crisis.
He often advises his millions of followers to take cover in assets that have provably sustainable fundamentals. While he advocates for real estate, gold, and silver, Bitcoin also features prominently on his list of preferred assets.
The advocacy for Bitcoin as a hedge against inflation also stems from the coin’s 21,000,000 tokens supply cap. This capped supply is further complemented by the deflationary model adopted in its emissions through the halving event.
This halving leads to a 50% slash in the rate of Bitcoin emissions through mining, further creating a supply shock that can lead to an increase in price if the market sustains demand.
Spot Bitcoin ETF Influence
Since the United States Securities and Exchange Commission (SEC) approved the spot Bitcoin ETF offering from BlackRock, Fidelity Investments, Grayscale Investments and others, there has been an intensive accumulation of the top cryptocurrency.
This demand channel and the reduced supply have contributed to the confidence in Robert Kiyosaki’s forecast, which is generally more modest than other projections which run as high as $200,000 before the April halving event.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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