For many years, the celebrity investor and author of the best-selling personal finance book “Rich Dad Poor Dad,” Robert Kiyosaki, has been a well-known bull when it comes to Bitcoin (BTC) and certain commodities, including gold and silver, frequently touting them as some of the best purchases an individual can make.
In the context of the ongoing crypto market rally, Kiyosaki took to X to again recommend people put their money in BTC and attached his own 2024 price target for the cryptocurrency – $300,000.
While the price target is fairly high – especially compared to many other forecasts – it appears well within the realm of possibility.
Picks for you
For example, this year saw a major development that has already significantly increased public access to Bitcoin – the approval of nine spot BTC exchange-traded funds (ETFs) in January.
Additionally, the Bitcoin halving is expected to take place in April. It is generally expected that the coin will continue rising in the leadup to its – and that it might truly skyrocket in its aftermath. Indeed, previous BTC halvings saw the cryptocurrency rise in value anywhere between tenfold and a hundredfold.
Kiyosaki points out the biggest mistake an investor can make
Simultaneously, Robert Kiyosaki also warned about the biggest mistake an investor or trader can make in the context of the current Bitcoin and crypto market rally – procrastination.
Indeed, the author urged his followers to put their money to work, even if it was just a $500 investment.
Given that Bitcoin’s press time price is close to $67,000, a $500 investment now would – should Kiyosaki’s $300,000 price target come to pass – grow to $2,238.81 before 2024 is out.
Bitcoin price chart
While Kiyosaki’s price target remains a tall order, Bitcoin has already achieved significant growth in 2024. Since January 1, BTC has mostly been either accumulating or surging, though there have been several major retracements, the most notable of which came in mid-January and for a single day in early March.
Nonetheless, Bitcoin is 57.26% in the green year-to-date.
In the last 7 days, Bitcoin experienced a major retracing shortly after setting a new high at $69,000 but has since seen significant recovery, rising a total of 6.80%. On the other hand, the latest 24 hours saw a minor 0.22% decline to $66,700.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
