Renowned investment guru Robert Kiyosaki, best known for his book “Rich Dad Poor Dad”, recently predicted that Bitcoin will soon reach $120,000. This forecast aligns with Standard Chartered Bank’s projections, presented on July 10. The main rationale behind Kiyosaki’s prediction lies in the BRICS nations, led by Russia, reportedly planning to launch a gold-backed cryptocurrency as an alternative to the US dollar.
Robert Kiyosaki’s Gold-Backed Bitcoin Forecast
Kiyosaki, who frequently warns of a major economic crisis and advises people to protect themselves by investing in assets like Bitcoin, gold, and silver, recently shared his latest Bitcoin forecast via his personal Twitter account.
Kiyosaki declared his expectation for the price of the largest cryptocurrency to rise to $120,000 next year. In his tweet, he stated, “BRICS countries will announce the gold-backed crypto on August 22 in Johannesburg, South Africa. The US dollar will die. Trillions of US dollars will become trash. Inflation will skyrocket. Buy gold and silver. Bitcoin will be $120,000 next year.”
It is believed that the BRICS countries (Brazil, Russia, India, China, and South Africa) are actively working to launch a gold-backed cryptocurrency to challenge the global dominance of the US dollar and explore alternative financial systems. This claim is supported by the Russian Embassy in Kenya announcing ongoing discussions to introduce a new trade currency backed by gold.
Recently, the Standard Chartered Bank lent support to a positive outlook for Bitcoin. On July 10, the bank shared its Bitcoin projection, foreseeing the largest cryptocurrency rising to $50,000 by the end of the year and to $120,000 by the end of 2024.
The Latest on BTC
As of writing, Bitcoin is trading at $30,533, following a 1.39% increase over the past 24 hours. The leading cryptocurrency continues to trade within a relatively narrow range, with the lowest level in the last 24 hours being $30,049 and the highest being $31,026. Despite the narrow price range, BTC‘s trading volume has surged by over 65% in the last 24 hours, exceeding $15 billion.
