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Robert Kiyosaki – an American investor, motivational speaker, and author of the book “Rich Dad, Poor Dad” – has predicted a bleak outlook for the US dollar, urging individuals to concentrate on precious metals and bitcoin. He anticipates that the leading cryptocurrency could soar to $120,000 in 2024.
The prominent British banking institution – Standard Chartered – also believes that the asset may achieve that target next year.
Another Optimistic Forecast
South Africa is set to welcome the leaders of Brazil, Russia, India, and China (collectively known as BRICS) in August this year to deliberate on the potential establishment of a new currency. Kiyosaki foresees these nations introducing a new cryptocurrency backed by gold, which could negatively impact the American dollar:
“US $ will die. Trillions of US $ rush home. Inflation through the roof.”
Robert Kiyosaki, Source: Wikipedia
He encouraged individuals to invest in gold and silver as a safeguard. Consistent with his earlier remarks, he reiterated his belief in Bitcoin, predicting it will rise to $120,000 in 2024.
Kiyosaki, who was among the few to predict the 2008 financial crisis, considers BTC to be a suitable investment vehicle during periods of significant economic downturn or inflation.
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In April 2020, he argued that the Federal Reserve’s extensive money printing during the global COVID-19 pandemic could favor precious metals and bitcoin, referring to them as “best investments.” It is worth noting that the leading digital asset was trading at approximately $6,800 at that time.
He continued to advocate for BTC throughout the 2022 bear market, advising investors that this was an excellent opportunity to purchase during the dip.
$500K by 2025?
Kiyosaki once again criticized the US dollar in February, labeling it as “fake money.” He predicted that the eroded confidence in the world’s reserve currency could drive investors towards bitcoin, gold, and silver.
Consequently, he believes BTC could reach $500,000 by 2025, while gold and silver could reach $5,000 and $500, respectively. He also referred to bitcoin as “people’s $,” while describing the precious metals as “God’s money.”
Others, such as MicroStrategy’s Executive Chairman – Michael Saylor – and Ark Invest’s CEO – Cathie Wood – have forecasted an even more promising future for BTC, suggesting its price could reach $1 million, albeit over a different timeline.
Similar to Kiyosaki, Wood expressed that the digital asset serves as a “huge hedge” against inflation. She also believes it could be utilized against deflation and counterparty risk.
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