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Not Buying Bitcoin Is “The Biggest Mistake You Can Make”
Robert Kiyosaki is a legend in the financial industry for his book “Rich Dad Poor Dad”. The book showed many the path to financial independence and solidified Kiyosaki as someone worth listening to, selling more than 40 million copies in 100 countries.
When Kiyosaki wrote the book in 2002, Bitcoin had not yet been invented. However, his opinion on the token is valued and many visit his social media accounts for advice and predictions.
That’s exactly what he followed on social media on March 6. post on. In the post, Kiyosaki says: “BITCOIN on fire. The biggest mistake you can make is procrastinating. It’s important to get started, even if it’s only for $500. Next stop, $300,000 per BC in 2024.”
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This post comes a day after Bitcoin hit a new ATH of just over $69,000. However, the new heights don’t scare Kiyosaki at all. The outspoken Bitcoin bull sees this trend as only the beginning for Bitcoin in 2024.
Year to date, Bitcoin is up over 56% and 155% in the last 6 months. Despite this, Kiyosaki believes that it is possible to envisage a further increase of more than 300% before the end of the year. At that price, Bitcoin’s market cap would be around $5.5 trillion, more than that of Apple and NVIDIA combined.
It may sound a little weird when put like that, but some see it as a legitimate path to these levels. If inflation continues to fall and the Federal Reserve begins to cut rates, combined with the upcoming halving and continued inflows of money into the country, AND F, purchasing activity could be sustained through the remainder of 2024. However, this trajectory would require many moving parts to fall into place. Although unlikely, a $300,000 Bitcoin is not out of the question in 2024.
Looking at past Bitcoin cycles, most have followed a similar pattern, barely hitting new all-time highs (ATH) before falling back slightly and then hitting new highs about a year later. If Bitcoin were to follow this pattern again, investors could see a slight pullback in the short term before Bitcoin reaches new highs over the coming months.
Additionally, Kiyosaki makes a good point about the practicality of Bitcoin investing. You can invest any amount of money in Bitcoin, ranging from a few dollars to billions. This factor allows anyone with extra cash to buy Bitcoin, regardless of their risk tolerance and financial goals.
Comments on the post were also extremely bullish on Bitcoin, with some saying “Rich dad says ‘Hodl’; poor dad says ‘Sell now'” and “Not 300,000. We’ll hit 1 million this year.”
The story continues
Bitcoin appears to be at an inflection point after hitting new highs. Will it continue to increase or experience a decline in the months to come? According to Kiyosaki, the 2024 Bitcoin bull run is just beginning.
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This item Robert Kiyosaki: Not Buying Bitcoin Is “The Biggest Mistake You Can Make” originally appeared on Benzinga.com
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