Robert Kiyosaki predicts Bitcoin will hit $350,000 by August 2024, citing U.S. leadership incompetence and ongoing support for crypto.
Two months after expressing his support for Bitcoin, “Rich Dad Poor Dad” author Robert Kiyosaki has taken to X with a bold prediction. Kiyosaki forecasts that Bitcoin will reach $350,000 by August 25, 2024, labeling it a prediction, speculation, and opinion, but not a lie.
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 becuase any prediction about the future is not a lie. I want $350,000 BITCOIN to be a fact, and I want it to…
— Robert Kiyosaki (@theRealKiyosaki) June 5, 2024
Emphasizing his confidence, Kiyosaki attributes his optimism not to the cryptocurrencies themselves but to his perceived incompetence of current U.S. leadership, specifically President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell.
This prediction has sparked diverse reactions from the community. Analyst Willy Woo suggested that while a $350,000 price is statistically possible by 2025 if monetary debasement resumes, it remains unlikely for 2024 without an extraordinary bullish event.
Statistically possible in 2025 if monetary debasement resumes.
Next to no chance in 2024 outside of a bullish black swan.
— Willy Woo (@woonomic) June 6, 2024
Others have expressed doubt about the projection, contending that the chances of Bitcoin attaining this price are extremely low. For context, such a price would push Bitcoin’s market cap to $6.9 trillion, greater than the combined valuations of tech behemoths Apple and Microsoft.
A History of Bitcoin Predictions
This is not Kiyosaki’s first Bitcoin prediction. In February, he projected that Bitcoin would hit $100,000 by mid-year. At that time, Bitcoin’s price was $52,013, requiring a 92.2% increase to meet its target.
However, Bitcoin’s price stands at $70,965.41, showing a 0.10% increase over the last 24 hours and a 4.28% rise over the past week. BTC would still need to increase 40% this month to hit Kiyosaki’s target. The current price is 3.82% lower than its all-time high of $73,737.94 recorded in March 2024.
Kiyosaki’s Investment Strategy
Meanwhile, Kiyosaki has been vocal about his investment strategy, advocating for Bitcoin, Ethereum, and Solana. He previously announced plans to buy at least 10 Bitcoin tokens by April, an investment of approximately $709,650 at current prices.
Notably, his decision aligned with the Bitcoin halving event that occurred on April 20. This event reduced miners’ rewards from 6.25 BTC to 3.125 BTC per block, effectively making Bitcoin scarcer.