Finance Author Robert Kiyosaki Says Bitcoin Will Hit $120,000, Here’s why

Bitcoin (BTC), the leading cryptocurrency, has been experiencing a resurgence in the crypto market, marked by bullish reversals across the board. 

 Amidst this market activity, Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” has unveiled a bold new price target for the cryptocurrency.  Kiyosaki’s prediction comes as he highlights the potential impact of the BRICS alliance’s adoption of the gold standard and their likely announcement of a gold-backed crypto in the near future.

 This news has reinvigorated Kiyosaki’s unwavering confidence in Bitcoin and its long-term investment potential.

BRICS Gold-Backed Crypto Announcement Poses Potential Paradigm Shift 

In his recent Twitter post,  Kiyosaki makes a bold prediction on the dominant cryptocurrency, Bitcoin as BRICS, now adopts that gold-backed crypto, he asserts this would be a good omen for the leading coin. 

“August 22, 2023, in Johannesburg, South Africa, BRICS nations announce gold backed crypto. US $ will die. Trillions of US $ rush home. Inflation through the roof. Buy Gold, Silver. Bitcoin to $120k next year,” Kiyosaki said.

Kiyosaki draws attention to the BRICS alliance’s moves towards adopting the gold standard, signaling a potential shift in the valuation of the US dollar (USD). 

He predicts that the BRICS countries are likely to unveil a gold-backed cryptocurrency next month, which could challenge the status quo and have far-reaching implications for the USD. As the USD faces potential devaluation, Kiyosaki advises his followers to consider alternative investments such as gold and silver to safeguard against the expected surge in inflation.

Bitcoin (BTC) price chart from TradingView.com

BTC price holds $30,600 support | Source: BTUCSD on TradingView.com

Bitcoin’s Ascension: Kiyosaki Sets Price Target at $120,000

Despite recent events that have shaken the confidence of mainstream investors in Bitcoin, Kiyosaki remains a steadfast supporter of the leading digital currency. Known for his proven theories on market trends and investment strategies, Kiyosaki’s latest proclamation bolsters Bitcoin’s prospects. He predicts that Bitcoin’s price could reach an impressive $120,000 by the following year. With his unwavering faith in Bitcoin, Kiyosaki maintains his reputation as a trusted voice in the investment community, inspiring many to consider the potential long-term gains of the cryptocurrency.  

Kiyosaki is not the only one with such a prediction, as Standard Chartered Bank, a renowned global institution, projects a surge in BTC’s value. Analysts at the bank anticipate Bitcoin to reach $50,000 by the year’s end, generating excitement among investors. 

Looking ahead, the bank predicts an even more staggering figure, with BTC potentially soaring to $120,000 by 2024.

BTC’s current trading price stands at $30,553.28, demonstrating its resilience and growing appeal. With a relatively narrow trading range, BTC reached a low of $30,049.83 and a high of $31,026.08 within the past 24 hours. 

Stability within this range presents an enticing opportunity for investors to monitor Bitcoin’s performance, anticipating potential breakouts.

Featured image from iStock, chart from TradingView.com

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