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Tuesday, June 25, 2024

Robert Kiyosaki Tells Followers To Keep An Eye On The Bitcoin Halving

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Rich Dad, Poor Dad author Robert Kiyosaki has once again urged his followers to consider Bitcoin (BTC) – and not because of anticipation of a spot ETF approval.

In a post to X on Wednesday, the real estate investor told followers to “pay attention to [the] Bitcoin halving” over the next three months before its expected arrival in April.

Bitcoin Is For Rich Friends

The Bitcoin halving occurs roughly once every four years, and permanently cuts the blockchain’s issuance rate of new BTC in half. Historically, the three halvings in Bitcoin’s history so far have been followed by record-breaking bull markets leading to new all-time highs within the following year.

“Please pay attention to Bitcoin halving, gold, and silver in January, February, and March,” warned Kiyosaki, adding that followers should “choose their friends carefully.”

Kiyosaki frequently mentions Bitcoin, silver, and gold in the same sentence: all are scarce assets that are difficult to “mine” as opposed to printable cash with which the government “is stealing our wealth,” in the investor’s words last month.

At the time, Kiyosaki warned followers to buy all three assets, and to be prepared for their friends and family to laugh at them for doing so. In his Wednesday post, he made more comments about wealth and friends, adding:

“One reason the poor and middle class remain poor is because they have poor friends and family. If you want to be rich it is essential to have rich friends or at minimum friends who want to be rich.”

Promise of the Bitcoin Halving

Investment banks including Standard Chartered and Bernstein have also cited the halving as a likely catalyst for major price appreciation over the next two years. The former predicts BTC will reach $100,000 by the end of 2024, while the latter targets Bitcoin at $150,000 by mid-2025.

Other analysts are more skeptical of the halving of any meaningful impact on Bitcoin’s price, attributing the asset’s “four-year cycles” to macroeconomic factors rather than a hypothetical halving-induced supply shock.

“It is an asset like any other, sympathetic to liquidity and credit conditions, the cost of money, and to the flow of the economy,” wrote price analyst TXMC in September.

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