Multiple Sources Claim Bitcoin to Reach $300k

Bitcoin (BTC) fell from its new all-time high but is still above Wednesday’s level with $67,116 (BTC/USD) and a 0.46% gain.

As the coin climbs slowly, several analysts have weighed in on where the coin might be headed. Some of them have placed Bitcoin at the $300,ooo level in the near future.

 

Perhaps the wildest prediction comes from Rich Dad, Poor Dad writer Robert Kiyosaki who says that the upcoming Bitcoin halving event will be bigger than most people suspect. He says that Bitcoin is on fire and could reach $300,000 before the end of 2024 and advises people to start investing. Of course, if Bitcoin becomes a hot investment, the prediction could become a self-fulfilling prophecy, with Kiyosaki’s hype generating massive investments that cause Bitcoin to surge.

Even though Kiyosaki is over $1 billion in debt, he is not worried about his financial situation. He says he uses his debt as an asset and believes the US dollar is not trustworthy.

Another Analyst Weighs In

A much more reserved prediction comes from Morgan Creek Capital Management founder Mark Yusko. He says that Bitcoin will hit $300k as well, but he estimates it will be 2028 before that happens. He values Bitcoin for its portability and divisibility, which he says sets it apart from an asset like gold in a good way. Bitcoin’s scarcity is its advantage, and that may allow it to catch up to the value of gold in time.

Yusko is looking forward to the halving event as well and expects it will positively impact Bitcoin and put it well on its way to hitting the $300k mark in the future. Yusko believes that Bitcoin is the future and that it can replace gold down the line. The halving event in 2028 that is expected could push Bitcoin over the line to $300k, according to Yusko.

That halving event makes Bitcoin harder to produce. There are a limited number of Bitcoins that can ever be produced, and each halving event decrease slows much Bitcoin is mined with the same amount of effort. The next halving event is coming soon, in April of this year. 

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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