According to Robert Kiyosaki, famous author of the bestseller “Rich Dad, Poor Dad”, the price of Bitcoin could end up rising to even $350,000 during 2024.
Kiyosaki has been following Bitcoin for several years now and is bullish about it, and over time he has made several predictions that have not always turned out to be correct.
The latest prediction on Bitcoin by the author of Rich Dad, Poor Dad
Today Kiyosaki wrote on his X profile that he sees the price of Bitcoin rising to $350,000 by August 25th of this year.
Defines this hypothesis a forecast, but also a speculation and an opinion, and even “a bait for fools”. However, he adds that it is not a lie, because any forecast about the future would not be a lie.
To tell the truth, however, he also says that he fundamentally wants BTC to reach this milestone, still expressing confidence about it. However, in reality, he defines this as a target, a dream, and a desire.
It is therefore a forecast that is not only extremely optimistic, but also more based on sentiment or desire, rather than on concrete analysis.
Kiyosaki however also reveals that he is continuing to buy Bitcoin, Ethereum and Solana, because he believes he is quite certain that their prices will continue to rise.
The motivations
What turns out to be more interesting, however, are the reasons that Kiyosaki gives regarding this forecast and his strategy.
First of all, he categorically denies being confident or sure about BTC, ETH, and SOL, as there is always inevitably a significant margin of uncertainty when trying to guess the future behavior of cryptocurrency prices.
However, he claims to have confidence in the incompetence of the US leaders, from the current president Joe Biden to the Treasury Secretary Janet Yellen, passing through the Fed Chairman Jerome Powell.
He calls them “the 3-Stooges”, that is, the three puppets, and says he is certain and very confident of their incompetence.
For this reason, he explicitly advises buying gold, silver, Bitcoin, Solana, and Ethereum to protect against the 3-Stooges.
The situation in the USA
To tell the truth, the economic-financial data coming from the USA do not seem so terrible overall.
There are in particular two not good data points, but others turn out to be rather positive.
The worst figure seems to be that on the U.S. public debt, which has increased in just over 4 years from 23 trillion dollars to over 34 trillion, or with an increase that approaches 50% in just over 4 years.
The other data not particularly good, but at least no longer terrible, is inflation, which has been above 3% for some time now.
There are, however, positive data coming, for example, from the labor market, with an unemployment rate that has dropped to 3.9%, which is close to the pre-pandemic 3.6%. Other very positive data also come from the stock exchanges, where, for example, the S&P500 index is at historic highs.
It is therefore a situation in chiaroscuro, and not pitch dark.
Robert Kiyosaki: la posizione dell’autore di Rich Dad, Poor Dad su Bitcoin
This suggests that Kiyosaki’s statements may not be objective and impartial, but given that the USA is in the midst of an election campaign for the November presidential elections, and since he has only accused members of the current democratic government, as well as the Fed governor, it is not unreasonable to imagine that he is getting involved in the election campaign in favor of Biden’s republican challenger, namely Donald Trump.
Among other things, it has been a few years now that Kiyosaki has been predicting a collapse of the US economic-financial system, but such a collapse has not occurred so far.
To tell the truth, many in 2022 predicted that the substantial increase in interest rates would inevitably lead to a severe recession, while it has now been two years without any clear and evident sign indicating the start of a real recession in the USA.
Although there are still many who are pessimistic, Kiyosaki’s position at this moment does not seem particularly impartial, not even towards Bitcoin.
Indeed, in reality often even in the past, when there was no electoral campaign underway, he expressed favorable positions towards Bitcoin that seemed excessively optimistic.
It should be noted, however, that his positive predictions on gold and Bitcoin ultimately turned out to be partially correct, even if reality proved to be just a bit less euphoric compared to his hypotheses.