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Sunday, July 21, 2024

Here’s Why Robert Kiyosaki Wants to Buy More Bitcoin (BTC) Now

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  • Robert Kiyosaki advocates for Bitcoin investment, predicting a substantial price increase and suggesting fractional purchases for those who can’t afford to buy a whole BTC.
  • The halving event, among other factors, is identified as a significant catalyst for a potential rally.

Why Accumulate More?

Robert Kiyosaki – the author of the best-seller “Rich Dad, Poor Dad” – is among the most vocal proponents of Bitcoin (BTC). Apart from praising the merits of the primary digital asset, the American businessman is also a HODLer.

Most recently, he revealed that he will purchase 10 more BTC this month (worth approximately $670,000 at current rates) due to the upcoming halving.

“If you can’t afford a whole Bitcoin, you may want to consider buying 1/10 of a coin via the new ETFs or Satoshi’s. If the Bitcoin process works as designed, you may own a whole Bitcoin by the end of this year,” Kiyosaki added.

The halving is an event that occurs roughly every four years. It slashes the rewards miners receive for adding new blocks to the network in half, thus reducing the speed of producing new coins. It will make BTC scarcer in the future and potentially more valuable (assuming demand stays the same or rises). Historically, the halving has been followed by a massive resurgence of the entire cryptocurrency market.

Besides announcing plans to increase his exposure to Bitcoin, Kiyosaki outlined a bullish prediction for the asset’s price, envisioning the $100K target by September this year. Earlier this month, the author forecasted that BTC could skyrocket to $300,000 by the end of 2024.

The BTC Bull Run Might be Just Starting

The approaching halving is not the only element that should be taken into consideration when predicting a future rally for Bitcoin.

A possible pivot from the Federal Reserve on its anti-inflationary policy could also be counted as one. America’s central bank previously hinted about dropping interest rates, but the community is yet to witness such action. Most recently, it kept the benchmark unchanged at 5.25%-5.50%. Reducing the interest rates could increase investors’ interest in riskier assets, including cryptocurrencies, hence play a role in a price surge.

Those willing to check additional factors signaling that there is much room for growth for BTC’s price beyond the $70K mark, feel free to take a look at the dedicated video below:

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