Prominent investor and author of the bestselling book “Rich Dad Poor Dad,” Robert Kiyosaki, has been a well-known bull on Bitcoin (BTC) and certain commodities, including gold and silver, for many years, often touting them as some of the most best purchases you can make.
In connection with the ongoing recovery of the crypto market, Kiyosaki once again recommended people to invest their money in BTC and set his own price target for the cryptocurrency for 2024 – $300,000.
Although the price target is quite high – especially compared to many other forecasts – it certainly seems to be within the realm of possibility.
This year, for example, saw one 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's widely expected that the coin will continue to rise in the run-up to it – and that it could actually skyrocket afterwards. In fact, previous BTC halvings have seen the cryptocurrency increase in value between 10x and 100x.
Kiyosaki points out the biggest mistake an investor can make
At the same time, Robert Kiyosaki also warned against the biggest mistake an investor or trader can make in the context of the current Bitcoin and crypto market rally – procrastination.
In fact, the author urged his followers to put their money to work, even if it was just a $500 investment.
BITCOIN on fire. The biggest mistake you can make is procrastination. It's important to get started, even if it's only $500. Next stop: $300,000 per BC in 2024
— Robert Kiyosaki (@theRealKiyosaki) March 6, 2024
Given that Bitcoin's price is around $67,000 as of press time, a $500 investment – should Kiyosaki's $300,000 price target be achieved – would reach $2,238.81 by the end of 2024 -dollars grow.
Bitcoin price chart
While Kiyosaki's price target remains high, Bitcoin has already achieved significant growth in 2024. Since January 1st, BTC has mostly either accumulated or risen, although there have been several large drops, the most notable of which occurred in mid-January for a single day in early March.
Nonetheless, Bitcoin is 57.26% in the green since the start of the year.
BTC YTD price chart. Source: Finbold
Over the last 7 days, Bitcoin experienced a sharp decline shortly after reaching a new high of $69,000, but has since seen a significant recovery, rising a total of 6.80%. On the other hand, there was a minor decline of 0.22% to $66,700 in the last 24 hours.
Disclaimer: The content of this website should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.
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