Robert Kiyosaki, the famous author of the book "Rich Dad Poor Dad," has made a bold prediction about Bitcoin's price for August.
Kiyosaki, who is popularly known for his financial wisdom, shared his thoughts in a recent tweet.
He believes that Bitcoin could skyrocket to at least $350,000 by August of this year.
This prediction is rooted in his analysis of the U.S. national debt and the ongoing printing of U.S. dollars by the government.
Kiyosaki often discusses financial strategies and investments, and his love and support for Bitcoin have been consistent over the years.
Current Bitcoin Market Situation
Currently, Bitcoin is experiencing significant price fluctuations.
After a sharp decline of more than 15%, the price dropped from $64,000 to just under $54,000 within five days. Despite attempts to stabilize around $59,000, Bitcoin has faced challenges maintaining this level.
The biggest cryptocurrency by market cap is currently being traded at $58,465, marking a 6.5% recovery since the beginning of the week.
Many investors, including those who follow Kiyosaki's advice, are concerned about and interested in Bitcoin's price volatility.
Kiyosaki's Shares Financial Wisdom
Kiyosaki often draws his insights from his book "Rich Dad Poor Dad" and the principles he teaches through his company. He emphasizes the importance of financial education and strategic thinking.
Kiyosaki frequently mentions this information in his tweets, podcasts, and interviews, calling it "financial wisdom" or "financial IQ."
This time, he shared an insight about “success in life.”
Kiyosaki stated that it does not depend only on what cards you have been dealt in the game of life but rather on “how well you play your cards when dealt a bad hand.”
Bitcoin's Future and Kiyosaki's Influence
Kiyosaki's prediction comes as the crypto community is watching the Federal Reserve's actions closely.
If the Fed loosens interest rates, it could positively impact Bitcoin's price.
Kiyosaki's audience, which includes millions of followers on social media, often seeks guidance from his predictions and advice.
His belief in Bitcoin as a valuable asset is part of his broader message about financial independence and smart investing.
Robert Kiyosaki's Earlier Statements and Experience
Earlier this year, Robert Kiyosaki made a striking prediction. He introduced the concept of Bitcoin entering the "Banana Zone" which he credits to investor Raoul Pal, a former Goldman Sachs executive, for this term.
Is the Banana Zone real?
— Robert Kiyosaki (@theRealKiyosaki) June 25, 2024
Raoul Pal is creating a lot of excitement talking about Bitcoin hitting “the Banana Zone.”
Q: Does he know what he is talking about? Q: What is the Banana Zone? A: Yes, I believe Raoul PAL knows what he is talking about. A: “The Banana Zone” is…
According to Kiyosaki, the "Banana Zone" means Bitcoin is going parabolic, leading to regret for those who didn’t buy earlier or didn’t buy enough.
Kiyosaki’s confidence in Pal comes from Pal’s professional background and advice, which led Kiyosaki to start investing in Bitcoin when it was priced at $6,000.
Today, with around $60,000 in Bitcoin, Kiyosaki continues to buy more Bitcoin each month.
He contrasts Bitcoin, which he calls “rules-based money,” with U.S. dollars, referring to them as “fake” fiat money.
According to Kiyosaki, Bitcoin makes people richer, while debt-based money makes them poorer.