Robert Kiyosaki is a legend in the financial industry for his book “Rich Dad Poor Dad.” The book has shown many the path to financial independence and cemented Kiyosaki as someone worth listening to, selling more than 40 million copies across 100 countries.
When Kiyosaki wrote the book in 2002, Bitcoin was not invented. However, his opinion on the token is valued, and many watch his social media accounts for advice and predictions.
His social media following got just that in a March 6 post on X. In the post, Kiyosaki says, “BITCOIN on fire. The biggest mistake you can make is to procrastinate. Important to start, even if only for $500. Next stop $300,000 per BC in 2024.”
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The post comes one day after Bitcoin reached a new ATH of just over $69,000. However, new highs do not scare Kiyosaki at all. The outspoken Bitcoin bull sees this run as only the beginning for Bitcoin in 2024.
YTD, Bitcoin is up more than 56% and is up 155% in the past 6 months. Despite this, Kiyosaki sees room for another increase of more than 300% before the end of the year. At that price, the market cap of Bitcoin would be approximately $5.5 trillion, more than that of Apple and NVIDIA combined.
It may seem a bit outlandish when you put it that way, but some see a legitimate path to those levels. If the inflation continues to taper and the Federal Reserve begins cutting rates, combined with the upcoming halving and continued inflows into ETFs, buying activity could be sustained throughout the remainder of 2024. However, this trajectory would require lots of moving parts to fall into place. Though unlikely, a $300,000 Bitcoin is not out of the question in 2024.
Looking back at past Bitcoin cycles, most have followed a similar pattern of barely reaching new all-time highs (ATHs) before falling back slightly and then reaching new highs around a year later. If Bitcoin were to follow this pattern again, investors could see a slight pullback in the near term before Bitcoin creates new highs in the next several months.
Additionally, Kiyosaki makes a good point about the practicality of Bitcoin investing. You can invest any amount of money into Bitcoin, ranging from a few dollars to billions. This factor allows anyone with extra cash to buy Bitcoin regardless of risk tolerance and financial goals.
The comments on the post were also extremely bullish on Bitcoin, with some saying “Rich dad says ‘Hodl’; poor dad says, ‘Sell now'” and “Not 300k. We’ll hit 1 Mil this year.”
Bitcoin seems to be at an inflection point after reaching new highs. Will it continue to rise or see a pullback in the coming months? According to Kiyosaki, the Bitcoin bull run of 2024 is just getting started.
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This article Robert Kiyosaki: Not Buying Bitcoin Is ‘The Biggest Mistake You Can Make’ originally appeared on Benzinga.com
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