The best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, said yesterday that Bitcoin could shoot well past $100,000 in the near future spurred by a number of bullish factors.
This news has reinvigorated Kiyosaki’s unwavering optimism in the premier cryptocurrency and its long-term investment potential.
Bitcoin’s Ascension: Kiyosaki Sets Price Target at $100K
Robert Kiyosaki, also a real estate mogul and an investor in precious metals, remains a steadfast Bitcoin supporter, despite recent incidents that have shaken mainstream investors’ confidence in the world’s largest crypto.
Popular for his proven theories on market trends and investment strategies, Kiyosaki’s latest prediction boosts Bitcoin’s prospects. In an August 14 X post to his 2.4 million followers, he predicted that Bitcoin’s price could hit an impressive $100,000 in the near future.
The rationale for his prediction is that Bitcoin is “people’s money” while gold and silver are “God’s money”. This can help BTC reach the elusive $100k mark, especially should the stock and bond markets plummet significantly, Kiyosaki says. This would also drive traditional safe-haven assets like gold and silver higher.
According to the famed investor, a situation where not only stocks and bonds crash but also the entire world economy collapse would supercharge Bitcoin’s price to $1 million. In such a scenario, gold would hit $75,000 per ounce, and silver would rocket to $60,000.
Last month, Kiyosaki cited another factor he expects to catalyze Bitcoin’s run to the moon: the BRICS nations’ ((Brazil, Russia, India, China, and South Africa) meeting in South Africa scheduled for August 22, 2023.
Not The Only Pundit Predicting $100,000 BTC
Notably, Kiyosaki is not the only one making a sky-high price prediction as Adam Back, the chief executive officer of Blockstream, projects a surge in BTC’s value. Back forecasted last month that Bitcoin will rise to $100,000 and beyond by the next halving slated for March 2024.
British Multinational Bank Standard Chartered also said last month that it expected the flagship cryptocurrency to reach $50,000 by the end of this year and up to $120,000 by end-2024.
Kiyosaki’s comments come as the price of Bitcoin continues to trade around the $29,300 zone at press time. The top crypto has returned around 0.4% for investors in the past week — making it one of the lowest volatility periods.