As the week has opened with bullish sentiment on the general cryptocurrency market, its representative asset, Bitcoin (BTC), has finally surpassed the critical psychological level at $30,000, and famous investor Robert Kiyosaki believes it could increase 350% soon.
Specifically, the renowned author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ shared his insights on the future prices of Bitcoin, gold, and silver, arguing that the “next stop” for Bitcoin is $135,000 while urging his followers to tell their friends to “wake up” in an X post shared on October 20.
DCA-ing Bitcoin
Meanwhile, Kiyosaki more recently praised dollar-cost averaging as the ideal investment strategy for the above assets, pointing out that gold had dropped by $10 and silver by $0.14 today and that he had been accumulating the precious metals and his other favorite assets, including Bitcoin, for years:
“Rather than pretend to be Warren Buffet picking bottoms I am an average investor ‘accumulating’ the asset I want for the long term. I have been accumulating gold, silver, BC, and real estate for years. (…) You can become rich by being an average investor, using dollar cost averaging to get rich.”
Indeed, using the DCA method by, for instance, investing about $100 in Bitcoin roughly once a month in the last five years (between October 23, 2018, and October 23, 2023) would be a profitable strategy, as the $6,000 investment spread this way would today be worth $14,122.96 or 135.38% more than the amount invested.
Bitcoin price analysis
As things stand, Bitcoin was at press time changing hands at the price of $30,577, which represents an increase of 2.31% in the last 24 hours, as well as an advance of 9.72% across the previous seven days and a gain of as much as 15% on its monthly chart, as per data on October 23.
All things considered, time will tell whether the maiden crypto asset will truly reach Kiyosaki’s predicted price of $135,000 and when, but the finance educator remains certain of its massive increase soon, earlier forecasting it at $1 million if the world economy crashed, as Finbold reported back in August.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
