Wall Street authority Robert Kiyosaki recently expressed his views on the future of finance, predicting a surge in Bitcoin’s price to $120,000 and a drastic downfall for the US dollar by 2024. This prediction by the ‘Rich Dad, Poor Dad’ author aligns with Standard Chartered’s Bitcoin forecast shared this week.
While the crypto market this year has experienced various ups and downs, Bitcoin stands out with its consistent performance. An increasing number of Spot Bitcoin ETF filings indicates a growing belief in the asset’s upward trajectory. Yet, the rise of BRICS and various macroeconomic dynamics hint at a potential decline for the US dollar.
Bitcoin’s Ascent, Dollar’s Descent
The financial sector has seen some dramatic shifts this year. Heightened inflation battles have spurred interest rate hikes, while BRICS nations present renewed challenges to the G7. These countries are progressively moving away from the dollar, reflected in its decreasing use in international trade.
On the other hand, Bitcoin’s appeal within traditional finance circles has grown significantly, despite a period of depreciation in 2022. Spot Bitcoin ETF filings by heavyweight asset management firms like BlackRock and Fidelity have prompted positive outlooks for the asset in the coming year.
Robert Kiyosaki, a respected figure on Wall Street, recently shared his predictions about these financial trends. He sees Bitcoin soaring to $120,000, and foresees the end of the US dollar by 2024. In a tweet, Kiyosaki mentioned the upcoming BRICS Summit, suggesting the potential announcement of a gold-backed currency could trigger a severe inflation spike leading to the dollar’s demise.
Kiyosaki advised his followers to invest in gold and silver, and also predicted Bitcoin could reach ” $120K next year”. If the SEC approves one or more Spot Bitcoin ETFs, this could significantly boost the cryptocurrency. However, while BRICS continues to challenge the dollar, the claim that the announcement of a gold-backed currency could alone cause its downfall seems somewhat far-fetched.
