Robert Kiyosaki – an American investor, motivational speaker, and author of the book “Rich Dad, Poor Dad” – forecasted a grim future for the US dollar, advising people to focus on precious metals and bitcoin. He believes the primary cryptocurrency can skyrocket to $120,000 in 2024.
The leading British banking institution – Standard Chartered – also thinks the asset can reach that milestone next year.
Another Bullish Prediction
South Africa will host the leaders of Brazil, Russia, India, and China (a group of countries known as BRICS) in August this year to discuss the possible creation of a new currency. Kiyosaki expectations the nations to introduce a new cryptocurrency backed by gold, which could harm the American dollar:
“US$ will die. Trillions of US $rush home. inflation through the roof.”
He urged consumers to invest in gold and silver as a protection measure. Like his previous statements, he touched upon Bitcoin, seeing it rise to $120,000 in 2024.
Kiyosaki, who was among the few to forecast the 2008 economic collapse, believes BTC is the right investment tool in times of a severe financial crash or inflation.
He argued in April 2020 that the Fed’s mass printing during the global COVID-19 pandemic could be beneficial for precious metals and bitcoin, calling them “best investments.” Recall that the leading digital asset was trading at around $6,800 at the time.
He remained a BTC proponent during the 2022 bear market, recommending to investors that this was a great opportunity to buy the dip.
$500K by 2025?
Kiyosaki criticized the US dollar once again in February, describing it as “fake money.” He envisioned that the undermined trust in the world’s reserve currency could push investors towards bitcoin, gold, and silver.
As a result, he believes BTC could reach $500,000 by 2025, whereas the yellow metal and silver could tap $5,000 and $500, respectively. He also labeled bitcoin as “people’s $,” while naming the precious metals “God’s money.”
Others like MicroStrategy’s Executive Chairman – Michael Saylor – and Ark Invest’s CEO – Cathie Wood – have predicted an even brighter future for BTC, suggesting its price could hit $1 million, albeit within a different timeframe.
Similar to Kiyosaki, Wood opined that the digital asset is a “huge hedge” against inflation. She also thinks it could be employed against deflation and counterparty risk.