Robert Kiyosaki, a well-known advocate of Bitcoin (BTC), recently endorsed Cathie Wood's prediction and expressed his confidence in her insights and intelligence. Kiyosaki, globally recognized for his book "Rich Dad, Poor Dad," reaffirmed Wood's forecast that the price of Bitcoin could reach 2.3 million US dollars.
Earlier, Kiyosaki had forecasted that the BTC price would reach 300,000 US dollars by the end of 2024, aligning with Wood's more ambitious prediction. While expressing his support for Wood's forecast, he also stated his belief that Bitcoin could reach 2.3 million dollars.
Wood's prediction is based on the idea that even a minimal 5% allocation of institutional investors' portfolios to Bitcoin could trigger a significant uptrend in its value. She has previously suggested that the digital asset could reach 1.5 million US dollars per BTC and even recently 3.8 million US dollars, highlighting the potential for exponential growth through institutional investments.
Kathie Wood quarantees Bitcoin will hit $2.3 million per BTC. Do I believe her? Yes I do. Kathie Wood is very smart. I trust her opinion. Could she be wrong? Yes. She could be. So what? The more important question is “ What do you believe?” What if Kathie is right? What if…
— Robert Kiyosaki (@theRealKiyosaki) April 11, 2024
There are potential factors that could drive the coin's value to unprecedented levels, although a price of 2.3 million US dollars may seem unimaginable to some. A key catalyst is the halving event programmed into the BTC protocol, which historically has led to significant price increases. A similar growth rate applied to the current price of around 71,000 US dollars could theoretically increase its value to over 765,670 US dollars.
Another factor that could contribute to the upward trend in Bitcoin is the expectation of approval of a publicly traded Bitcoin fund (ETF) by the Securities and Futures Commission (SFC) of Hong Kong. This development, following the approval of spot BTC by the US Securities and Exchange Commission (SEC), could impact the coin's price and lead to further increases, as observed with the SEC's approval on January 11th. If this trend extends globally, especially to financial centers like Hong Kong, where regulatory authorities are considering approving Bitcoin ETFs, it could trigger a wave of additional institutional investments in the cryptocurrency market, inevitably exerting upward pressure on the coin's price and bringing it closer to the ambitious forecasts of many top analysts.
