Kiyosaki now has one of the market’s most bullish short-term Bitcoin predictions, while other analysts are play safe with their forecasts.
Popular entrepreneur and author Robert Kiyosaki has offered a very bullish prediction for Bitcoin (BTC). In a recent X post, Kiyosaki said Bitcoin will hit $100K by June.
The prediction comes as the Bitcoin market has recorded substantial gains recently. According to CoinMarketCap data, BTC has climbed nearly 9% in 7 days and is currently trading above $52,000. Bitcoin would need to spike more than 90% in about three months for Kiyosaki’s prediction to come to pass.
Kiyosaki Has Been Bullish on Bitcoin
Kiyosaki is a known Bitcoin proponent who is also popular for making bullish statements about the king coin. For instance, he recently encouraged people to buy Bitcoin, gold, and silver because the US is nearing “depression and war”. He blamed President Biden, Treasury Secretary Janet Yellen, and Fed Chairman Jerome Powell for the problem, calling them “the 3 stooges”.
Last October, Kiyosaki also said Bitcoin will hit $135,000, while also predicting that gold will rise to $3,700. The post also discouraged saving US dollars but did not provide a timeline for any of the predictions.
Over the weekend, the price of Bitcoin remained quite steady, swinging around the $52,000 mark. Many predictions are bullish about Bitcoin’s possible performance this year but modest compared to Kiyosaki’s forecast. For instance, Tyr Capital Chief Investment Officer Ed Hindi told CoinDesk that Bitcoin will hit $55,000 in the coming weeks. According to Hindi, the $70,000 all-time high (ATH) is also possible before the end of the year. This prediction aligns with that of SkyBridge Capital CEO Anthony Scaramucci, who also said Bitcoin’s ATH is possible this year.
Bitcoin is Still Benefitting from Spot ETFs
Bitcoin is still enjoying a lot of attention from the recent approval of spot exchange-traded funds (ETFs). The United States Securities and Exchange Commission (SEC) approved several spot ETFs in January after more than a decade of continuous rejections. The ETF has successfully attracted billions of dollars in trades so far, with BlackRock’s $IBIT pulling in some of the largest daily inflows.
On February 13, $IBIT’s net inflow was $493.1 million, according to data from BitMEX Research, the largest daily inflow of all ETFs since approval. On most days, Fidelity Investments’ $FBTC is the second largest, with its own biggest day on January 17, when it netted $358.1 million. On the other hand, Grayscale’s $GBTC is still bleeding, losing a heavy $640.5 million on January 22.
Another issuer, VanEck, has taken its price war further in the hope that it will attract more inflows. The spot Bitcoin ETF issuer has decided to lower its operating prices to 0.20 percent from 0.25 percent. According to a February 15 filing submitted to the SEC, the reduced fee will take effect on February 21.
Grayscale is the only issuer with a fee above 1%. All others have set varying and non-static fees below 1% as they fight for deposits from the Bitcoin market.
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