Robert Kiyosaki forecasts Bitcoin to reach $120,000 in 2024

The bestselling author of Rich Dad Poor Dad and entrepreneur Robert Kiyosaki predicted the ‘death’ of the U.S. dollar and Bitcoin rising to $120,000 next year.

According to him, on 22 August in South Africa, BRICS (Brazil, Russia, India, China, South Africa) will unveil a gold-backed cryptocurrency.

“The U.S. dollar will die. Trillions of dollars will return home. Inflation will soar to the skies. Buy gold and silver. Bitcoin will reach $120,000 next year,” wrote Kiyosaki.

From 22 to 24 August BRICS leaders’ summit will be held in South Africa. One of its main topics will be a separate currency for trade among the bloc’s member countries. As Forbes wrote, the head of the Bank of Russia, Elvira Nabiullina, described the initiative as worthy of consideration but difficult to implement.

Kiyosaki is not new to urging followers to seek alternative investments. In September 2022 he predicted “the greatest crash in history,” and in October he recommended to buy the first cryptocurrency and other digital assets amid the rising rate of the ФРС.

In February 2023 the entrepreneur predicted Bitcoin rising to $500,000 by 2025 and named it the best hedge in turbulent times, but warned about the asset’s volatility.

Earlier in March, Kiyosaki urged to buy digital gold and precious metals ahead of an emergency landing amid problems in U.S. banks. The entrepreneur repeated his recommendations in April and May.

Earlier, Matrixport’s head of research Markus Thielen forecasted Bitcoin to $125,000 by the end of next year. Analysts at Standard Chartered reached a similar conclusion — $120,000 in 2024.