Renowned author and financial educator Robert Kiyosaki, known for his influential book “Rich Dad Poor Dad,” has made a bold prediction about the future of Bitcoin. Kiyosaki believes the leading cryptocurrency will skyrocket to a staggering $120,000 soon. This projection aligns with the forecast made by Standard Chartered Bank, which predicts Bitcoin hitting $50,000 by the end of this year and surging to $120,000 by the close of 2024.
Taking to his official Twitter account, Kiyosaki shared his thoughts on the recent developments regarding adopting the gold standard by BRICS alliance members. He suggested that these nations could introduce a gold-backed cryptocurrency next month, potentially disrupting the current status quo of U.S. dollar valuation.
Considering the looming devaluation of the U.S. dollar, Kiyosaki, renowned for his unconventional financial advice, advises his followers to invest in gold and silver as a hedge against the anticipated inflation in the coming months. Notably, he emphasized his prediction that Bitcoin will reach an astounding price level of $120,000 within the following year.
The BRICS nations (Brazil, Russia, India, China, and South Africa) are actively exploring the launch of a gold-backed cryptocurrency, aiming to challenge the global dominance of the U.S. dollar and explore alternative financial systems. The Russian Embassy in Kenya has announced ongoing discussions regarding introducing a new trading currency backed by gold.
Standard Chartered Bank Supports Positive Bitcoin Outlook
Standard Chartered Bank has also weighed in on the positive outlook for Bitcoin. The bank’s projections support Kiyosaki’s prediction, with forecasts indicating that Bitcoin will reach $50,000 by the end of this year and surge to $120,000 by the close of 2024.
As a renowned investor with a proven track record in market analysis and investment strategies, Robert Kiyosaki remains one of Bitcoin’s most vocal advocates. Despite recent events that have shaken the confidence of mainstream investors in the premier digital currency, Kiyosaki’s current price prediction demonstrates his unwavering optimism.
Kiyosaki has established himself as a social commentator, offering insightful projections that guide investors. Notably, he has expressed minimal faith in the banking sector, suggesting that more banks may face adversity in the coming months or years.
Bitcoin trades at $30,438, a 1.33% increase within 24 hours. Despite some fluctuations, the price of BTC has remained relatively stable, with the 24-hour low recorded at $30,049.83 and the high at $31,026.08.
Furthermore, the trading volume during this period has reached $15,071,741,562, signifying a substantial 69% increase compared to the previous timeframe.
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