KEY POINTS
- The 'Rich Dad, Poor Dad' author said his projection is merely a speculation 'but it's not a lie'
- He said his confidence stems from the 'incompetence' of US leaders
- Some crypto users called Kiyosaki a 'Doomsday Capitalist,' while others agreed that the price hike is possible
Multi-millionaire and controversial investor Robert Kiyosaki is all in on Bitcoin, the world's largest digital asset by market value, and believes the digital asset can hit $350,000 by late August.
Kiyosaki, who is the author of the critically acclaimed book "Rich Dad, Poor Dad," on Wednesday predicted that Bitcoin (BTC) "will be $350,000 by August 25, 2024."
He clarified that it is a "speculation, it's an opinion, but it's not a lie," further noting that it can be deemed "suckers bait" but it's not a lie. The entrepreneur, who has had critics for some of his wealth advice, and has an estimated net worth of $100 million, further explained on X (formerly Twitter) that he is "so confident" Bitcoin, Ethereum (ETH), and Solana (SOL) prices will continue to rise because of "the incompetence of our leaders."
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
He said there are "3 Stooges" within the United States, namely President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell. "Buy more Gold, Silver, Bitcoin, Solana, and Ethereum. Protect yourself from the 3- Stooges," he wrote.
This isn't the first time Kiyosaki has talked confidently about Bitcoin. Last year, he said gold, silver, and Bitcoin are the best bets for the American public once the U.S. economy suffers a "crash landing." At the time, he also called out the U.S. government for "incompetence."
There were mixed reactions to Kiyosaki's latest statements, with some X users saying his investment advice shouldn't be taken to heart, while others echoed his positivity about Bitcoin's path.
One user called Kiyosaki a "Doomsday Capitalist," saying he makes wealth out of "spreading rumors" and "most importantly fear." Another said his post "will age as badly" as his previous predictions.
One commenter noticed that the business magnate added SOL to his tweets, saying it is "bullish" for the Solana blockchain to be mentioned by Kiyosaki. An apparent Bitcoiner agreed with Kiyosaki's prediction, saying he would keep buying Bitcoins since the price "doesn't matter."
Kiyosaki's projection is quite high compared to other industry analysts, who also have high hopes for the cryptocurrency. For instance, Bernstein analysts maintain that Bitcoin can hit $150,000 at the end of 2025, citing current metrics that "indicate a healthy cycle."
Hedge fund manager Mark Yusko said he believes BTC can reach up to $150,000 at the end of 2024 as he expects more interest in the asset following the April 20 halving.
