Robert Kiyosaki’s prediction of Bitcoin reaching 120K in 2024 and its impact on the US dollar is explored.
Robert Kiyosaki, the author of “Rich Dad Poor Dad,” is known for his insightful comments on finance and investing. Kiyosaki recently made a prediction on Twitter that has caught the attention of the cryptocurrency community.
Kiyosaki, as other analysts have considered for months, has foreseen a “giant” economic meltdown and the possibility of a great depression on the horizon. And at that point, he pointed out last February, “faith in the US dollar, the counterfeit money, will be destroyed.”
It should be recalled that a few months ago the economic influencer, very active on Twitter with comments against the Federal Reserve and economic policies in the United States, referred to the overprinting of money by said entity as the origin of such debacle.
On July 11, via Twitter, Kiyosaki suggests that the BRICS nations (Brazil, Russia, India, China, and South Africa) will announce a gold-backed cryptocurrency on August 22, 2023, in Johannesburg, South Africa:
“August 22, 2023, in Johannesburg, South Africa, BRICS nations announce gold backed crypto. US $ will die. Trillions of US $ rush home. Inflation through the roof. Buy Gold, Silver. Bitcoin to $120k next year.”
US Dollar’s Future
Kiyosaki predicts that this announcement will lead to the death of the US dollar. According to him, trillions of US dollars will return home, causing runaway inflation.
This scenario, if it materializes, could have significant consequences for the global economy, as the US dollar is currently the world’s reserve currency.
In addition to his US dollar prediction, Kiyosaki also made a Bitcoin prediction. According to him, the price of BTC will reach 120K next year. This is a bold prediction, considering that the Bitcoin price has experienced significant volatility in recent years.
However, Kiyosaki is not the only one who believes in the potential of BTC. Many cryptocurrency and financial experts have also made optimistic predictions about the future of Bitcoin.
In his tweet, Kiyosaki also advises buying gold and silver. This underlines the importance of diversification in investments. Although Bitcoin and other cryptocurrencies can offer significant returns, they also come with a high level of risk.
Therefore, it is crucial to diversify investments as protection means against market volatility.
Impact of Kiyosaki’s Predictions and Current Market Situation
Kiyosaki’s predictions have generated discussion in the cryptocurrency community. Some agree with his views, while others are more skeptical. However, one thing is certain: his predictions are a reminder of the importance of being informed and prepared for possible changes in the financial market.
Currently, Bitcoin is trading at $30,500. Furthermore, BTC continues to dominate 50% of the cryptocurrency market. Meanwhile, the Fear & Greed Index sits in a neutral zone of 56 points. The inflation data for the United States, which will be released this Thursday, July 13, will be key to elucidating the future of Bitcoin in the short term.
To conclude, it is worth considering that Bitcoin price predictions are always uncertain and depend on a variety of factors, including market conditions, government regulations, and consumer and business adoption of Bitcoin.
By Audy Castaneda