- Renowned entrepreneur Robert Kiyosaki predicts Bitcoin could reach $300,000 per coin by end of 2024, reflecting his long-term bullish outlook.
- Kiyosaki advocates Bitcoin over fiat currency due to flaws like inflation erosion and government interference, positioning it as a financial parachute.
- Recent Bitcoin price surge driven by growing adoption like El Salvador using it as legal tender and SEC approving Bitcoin ETFs, signalling broader acceptance.
The crypto market has seen a resurgence lately, and Bitcoin’s value has been soaring. Renowned entrepreneur and author of Rich Dad Poor Dad, Robert Kiyosaki, has made another bold prediction, stating that Bitcoin could reach $300,000 per coin by the end of 2024.
Kiyosaki Remains Bullish on Bitcoin
On the X platform, Robert Kiyosaki said, “BITCOIN on fire. The biggest mistake you can make is to procrastinate. Important to start even if only for $500. Next stop is $300,000 per BTC in 2024.”
This forecast comes right after his previous prediction that Bitcoin could hit $100,000 by June. Kiyosaki has long been a Bitcoin supporter, highlighting its stability during market uncertainty.
The Flaws of Regular Jobs and Fiat Currency
In November, Kiyosaki advocated for Bitcoin over traditional assets, condemning the conventional model of earning money through regular jobs. He emphasized inherent flaws like taxation and inflation erosion.
Instead, Kiyosaki promoted cash flow assets like rental properties, oil, and food production as avenues for earning tax-free money.
Bitcoin as a Financial Parachute
Furthermore, Kiyosaki positioned Bitcoin as a financial parachute for investors, particularly amidst the perceived fragility of global banking systems. In February, he hinted at an imminent global banking crisis, pointing to huge unrealized losses by US banks.
Kiyosaki stressed diversifying into assets like gold, silver, and Bitcoin to mitigate banking system risks. His skepticism toward central banks and fiat currency is well known. He believes Bitcoin’s limited supply and inflation resistance give it intrinsic value, unlike fiat currency vulnerable to government interference.
Recent Bitcoin Market Performance
As of this writing, Bitcoin trades around $66,713, up 65% over the past week, with a $1.3 trillion market capitalization. Bitcoin recently exceeded its previous all-time high, reaching $69,170, driven by various factors rekindling investor interest.
ETF Approvals Boost Bitcoin
One key catalyst is the SEC approval of Bitcoin ETFs in January, facilitating substantial institutional and retail capital inflows.
Widening Bitcoin Adoption
Bitcoin’s resurgence is also due to increasing global adoption. El Salvador’s Bitcoin reserves, since adopting it as legal tender in 2021, are now worth over $150 million.
Legislative initiatives in U.S. states also suggest growing interest in incorporating Bitcoin ETFs into pension funds. These developments signal broader institutional acceptance and integration of cryptocurrencies into traditional finance.
