Key Points
- Robert Kiyosaki plans to purchase an additional 10 Bitcoin prior to the halving event.
- He encourages his followers to consider Bitcoin as a hedge against traditional global market risks.
Robert Kiyosaki, an experienced investor and the author of Rich Dad, has expressed his intention to buy 10 more Bitcoin (BTC) before the upcoming halving event.
Kiyosaki is taking advantage of the current discount on Bitcoin, which has been in a phase of re-accumulation since the latter half of March. This period has seen the cryptocurrency’s value consolidate after recent losses below $68K.
Kiyosaki’s Bitcoin Prediction
The investor’s decision is influenced by his bullish mid-term outlook on Bitcoin’s value. He predicts that the price of Bitcoin will appreciate after the halving event in April and reach a target of $100K in the third quarter.
He has urged his 2.5 million followers on X (previously Twitter) to consider buying a tenth of a Bitcoin if they cannot afford a whole one. He believes Bitcoin can serve as a hedge against the fundamental risks in traditional global markets.
Kiyosaki stated, “I expect Bitcoin to be $100K by September 2024.” He further explained that the “smart money” is aware of the financial challenges faced by advanced economies, including the US being the world’s largest debtor nation and the global brink of war.
Other Market Predictions
Kiyosaki’s prediction aligns with those of many analysts and halving cycle theorists who anticipate bullish prospects for Bitcoin after the mid-April halving event. For instance, Standard Chartered has increased its end-year Bitcoin prediction by 50%, from $100K to $150K.
Bernstein analysts have also raised their end-year Bitcoin target from $80K to $90K, citing “strong ETF inflows and aggressive miner capacity expansion.”
Despite these bullish predictions, a report from AMBCrypto indicates that Bitcoin’s short-term prospects remain bearish. At the time of writing, Bitcoin was trading at $67.0K with a significant overhead bearish order block on the 4-hour chart around $66.9K — $67.99K.
