Robert Kiyosaki, the author of "Rich Dad, Poor Dad," has endorsed the uber-bullish price prediction made by Ark Invest founder Cathie Wood in a recent post on the X social media network.
Ark forecasted that the price of the largest cryptocurrency could skyrocket to $2.3 million in its annual "Big Ideas" research report. The famous investment management firm estimated that the value of the global investment base is roughly $250 trillion. The flagship cryptocurrency would need a 19.4% allocation in order to be able to reach the aforementioned price target.
As reported by U.Today, Wood recently upped the ante by predicting that the price of Bitcoin could actually surge to $3.8 million. For this to happen, institutional investors would need to convert at least 5% of their portfolios into Bitcoin.
In January, Wood predicted that the price of Bitcoin could potentially reach $1.5 million following the approval of spot-based exchange-traded funds in January.card
Even though some criticized Wood for being unreasonable when it comes to her pie-in-the-sky Bitcoin targets, Kiyosaki praised her for having enough courage to come up with such predictions:
"In the real world the richest and happiest people are people who make mistakes and learn from them their mistakes," he said.
Regardless of whether or not the controversial stock picker will end up being right or wrong, Kiyosaki believes that those who listen to her will be better educated when it comes to Bitcoin.
Kiyosaki himself has predicted that the price of the top cryptocurrency could reach $300,000 in 2024.
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team