Robert Kiyosaki Says He Expects Bitcoin To Hit $100K And Will Be Buying 10 More Before The Halving
"Rich Dad Poor Dad" author Robert Kiyosaki has accumulated tons of financial knowledge over the years. More recently, he has focused his efforts on posting about Bitcoin and its benefits as an investment tool.
In a March 25 post on X, Kiyosaki detailed his plans for future Bitcoin (BTC) purchases and urged his followers to do the same.
"I am buying 10 more Bitcoin before April. Why? The ‘Halving.' ... I expect Bitcoin to be $100K by September 2024," Kiyosaki wrote. The author bought five more Bitcoins in early 2024 during the spot exchange-traded fund (ETF) approvals. He has huge unrealized profits on his position but is still buying more.
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Kiyosaki cites the upcoming Bitcoin Halving as a catalyst for growth. The event, expected to occur on April 19, will decrease the block reward from 6.25 BTC to 3.125 BTC. Effectively, this will make it so that only 450 new Bitcoins are put into circulation each day instead of the current 900. According to some, this will lower the amount of daily selling activity and could add even more momentum to Bitcoin's price. Conversely, some believe that the recent run on Bitcoin is the market pricing in the halving. Either way, the event will likely have a significant impact on Bitcoin's price.
With this in mind, Kiyoaski sees Bitcoin appreciating to $100,000 by September, marking a gain of nearly 50% in just five months. In the past, Kiyosaki has said that Bitcoin will reach $300,000 in 2024.
If Kiyosaki buys 10 BTC at current prices and were to sell them at $100,000, he would see a gain of nearly $300,000.
The "Rich Dad" also said the macro climate is weak, which is another reason to invest in Bitcoin.
"‘Smart money' knows the U.S. is the biggest debtor nation in the world; China's property market is ‘toast;' Japan has been in a depression since 1990; Germany is sliding into a depression, mom-and-pop consumers are living on credit cards; banks are in trouble; and the world is on the brink of war."
While the global economy may not be as bleak as the picture Kiyosaki paints, Bitcoin could benefit from increased uncertainty, as many see it as a store of value.
For those who aren't fans of Bitcoin, Kiyosaki points them to other assets that are seen as a store of value, namely gold and silver. He argues that these assets have intrinsic value and a limited supply. "Please don't be a poor person saving fake money," he said.
Despite a huge run to start 2024, Kiyosaki thinks Bitcoin has more in the tank, largely because of the upcoming halving and global economic uncertainty. It will be interesting to see whether his predictions come true in 2024.
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