Robert Kiyosaki Predicts Bitcoin to Hit $350,000 by August 2024

Robert Kiyosaki, the author of the bestseller “Rich Dad, Poor Dad” and an entrepreneur, has forecasted that the price of the leading cryptocurrency will reach $350,000 by August 25.

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

“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 because any prediction about the future is not a lie. I want $350,000 BITCOIN to be a fact, and I want it to be true… But it’s just a forecast,” the businessman wrote.

He added that he continues to buy “more Bitcoin, Ethereum, and Solana,” as he is “absolutely confident” in their continued price growth.

However, Kiyosaki is betting not on the properties of the assets themselves, but on the “incompetence” of US leaders, including President Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell:

“They are the ‘Three Stooges’ in real life. I am absolutely convinced of their incompetence. Take care of yourself. Buy more gold, silver, Bitcoin, Solana, and Ethereum. Protect yourself from the three stooges.”

Analyst Willy Woo, in a comment under the entrepreneur’s post, calculated that to achieve the $350,000 target, approximately $2.2 trillion needs to be “poured” into the market.

MVRV compares the market cap vs the money stored in the network.

This multiplier oscillates roughly between 1 and 5 depending on the liquidity and fomo in the market.

I’m using a rough 2.5x for this stage of the bull market.

$350k BTC = $6.9T market cap

Now work out how much… pic.twitter.com/6Ij3qzKZ4H

— Willy Woo (@woonomic) June 6, 2024

“In reality, you could just buy up all available Bitcoin, and the supply shock would lead you to $350,000 with much less capital. But then veterans will unload their coins, guys from TradFi will short futures, and after the dump, roughly speaking, a steady state will ensue,” the expert noted.

At the time of writing, digital gold is trading at $71,180, having gained 5% over the week. Its capitalization stands at $1.4 trillion.

Analyst and MN Trading founder Michaël van de Poppe stated that Bitcoin’s chart shows upward momentum. In his view, it is now important to hold the support level at $70,000 to continue the rise to the all-time high.

The upwards momentum on #Bitcoin continues to happen.

$70K broke upwards, through which the important level is to hold $70K now for continuation to the all-time high. pic.twitter.com/UJGxdGpZ8B

— Michaël van de Poppe (@CryptoMichNL) June 6, 2024

In another post, he added that altcoins are ready for growth, with significant momentum expected from late June to September-October.

The #Altcoins are ready for their upwards run.

I think we’ll be seeing a lot of momentum from late June until September — October.

A repricing back to their normal values after the big cascade of the first period of the year.

— Michaël van de Poppe (@CryptoMichNL) June 6, 2024

“[There will be] a repricing to their normal values after the big crash this year,” the analyst noted.

Earlier, Standard Chartered predicted Bitcoin would reach $100,000 before the US elections. Meanwhile, the coin could hit a new all-time high soon.

Back in QCP Capital, growing expectations of a “decisive breakthrough” of the all-time high by the end of June were noted.

Glassnode also recorded a renewed interest in purchasing the leading cryptocurrency.