Why ‘Rich Dad Poor Dad’ Author Supports Cathie Wood’s Ambitious $2.3 Million BTC Price Target

Renowned author Robert Kiyosaki, celebrated for his best-selling book “Rich Dad, Poor Dad,” has endorsed Cathie Wood’s audacious Bitcoin price forecast of $2.3 million per coin. Kiyosaki admires Wood’s intellect and unwavering conviction about the future of the largest cryptocurrency.

Kiyosaki Sees Bitcoin Reaching $2.3 Million 

In its February “Big Ideas 2024 report, Cathie Wood’s Ark Invest made an interesting projection for Bitcoin. The firm suggested that the price of Bitcoin could rocket to $2.3 million if 19.4% of global institutional assets — valued at a whopping $250 trillion — moved to BTC. 

At the time, Ark also emphasized that Bitcoin had emerged as an independent asset class worthy of a “strategic allocation in institutional portfolios,” as the maiden cryptocurrency’s price action had not been highly correlated with that of other asset classes.

In a recent post on X, Robert Kiyosaki shared his confidence in the astronomically high $2.3 million BTC price prediction, noting that he trusts Cathie Wood’s judgment because she is very intelligent. 

The Ark Invest CEO recently raised the stakes, forecasting that Bitcoin could hit as high as $3.8 million if institutional investors substitute at least 5% of their portfolios for BTC. Although the famous stock picker is often slammed for her ambitious price targets, Kiyosaki lauded her for having enough courage to make such projections.

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Whether or not Wood’s prediction comes true, the finance author claims that those who follow her advice will be better educated on Bitcoin. 

“School is the only place on earth where “smart” people are people who never make mistakes. In the real world, the richest and happiest people are people who make mistakes and learn from them their mistakes.”

Bitcoin Price Outlook

Bitcoin is currently in flux as March all-time highs near $74K refuse to be flipped to support without a fight. According to CoinGecko data, BTC is up 3.5% on the weekly chart and trading for $70,556 at press time.

Cathie Wood’s Ark was one of the asset management firms that won landmark approval from the U.S. Securities and Exchange Commission to list a spot BTC ETF in January.

Following the launch of the investment vehicle, Wood forecasted that Bitcoin would continue stealing gold’s global market since there is now a much easier and safer way for traditional investors to gain exposure to the benchmark cryptocurrency without the hassle of buying and storing it.

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• Source: https://zycrypto.com/why-rich-dad-poor-dad-author-supports-cathie-woods-ambitious-2-3-million-btc-price-target/