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'Rich Dad Poor Dad' Author Predicts Bitcoin Reaching $1 Million

Robert Kiyosaki, author of Rich Dad Poor Dad, predicts Bitcoin will hit $500,000 by 2025 and $1 million by 2030. He attributes these gains to artificial intelligence's impact on the financial world and rising U.S. national debt.

• Main Points:

  • AI will reshape finance: Kiyosaki believes AI will drive significant changes in the global financial system, boosting Bitcoin’s value.

  • Bitcoin price predictions: Kiyosaki predicts Bitcoin will reach $500,000 by 2025 and $1 million by 2030.

  • Safe-haven assets: He views Bitcoin, along with gold and silver, as safe investments during economic instability.

  • Rising U.S. debt fuels Bitcoin optimism: Kiyosaki expects Bitcoin to benefit from the growing national debt and its limited supply of 21 million coins.

• Detailed Insights:

  • AI's impact on finance: Kiyosaki anticipates artificial intelligence to revolutionize the financial landscape, increasing demand for decentralized assets like Bitcoin.

  • Bold Bitcoin price forecasts: He projects Bitcoin reaching $500,000 by 2025 and eventually soaring to $1 million by 2030, making it a key safe-haven asset in the evolving economy.

  • Risk-off asset strategy: Kiyosaki advocates for investing in Bitcoin alongside precious metals, seeing all as hedges against financial instability.

  • U.S. national debt: The skyrocketing U.S. national debt, which grows by $1 trillion every 100 days, is another reason for his bullish stance on Bitcoin.

  • Fed rate cuts and Bitcoin: The recent Federal Reserve interest rate cut has further boosted Bitcoin’s price, with a 7.6% rise this week alone.

Related: BTC Price Nears Critical $64K Level

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Is Bitcoin Headed for Another Crash?

Bitcoin’s failure to hold above $64,000 has raised alarms, as onchain and technical indicators suggest a potential price pullback. High open interest in Bitcoin futures and a large percentage of holders in profit could lead to increased volatility.

• Main Points:

  • Price resistance at $64,000: Bitcoin’s recent rally faces strong resistance at this key level.

  • 85% of holders in profit: A high percentage of Bitcoin holders in profit signals an overheated market, increasing the risk of a correction.

  • Futures open interest spike: Rising futures open interest may indicate excessive borrowing and potential price swings.

  • Technical signals point to a pullback: Failure to break above $66,000 could lead to price retracement to $62,000.

• Detailed Insights:

  • Price resistance at $64,000: Bitcoin’s recent push above $64,000 encountered strong resistance. Historically, rejections from this level have led to significant price drops, such as the 17.5% drop in August.

  • 85% of holders in profit: According to Into The Cryptoverse, 85% of Bitcoin holders are currently in profit. This often signals market overheating, which could prompt some investors to take profits, pushing the price lower.

  • Rising futures open interest: Bitcoin futures open interest has surged 22.7% since September, reaching $34.72 billion. This suggests heightened demand but also raises concerns about potential volatility if traders adjust their positions.

  • Possible liquidation event: A failure to flip $64,000 into support could trigger liquidations of long positions, causing the price to dip further.

  • Key level at $66,000: If Bitcoin can’t break above $66,000, further downside could follow, with a possible drop to the $62,000 range.

Related: Dormant Satoshi-Era Bitcoin Wallet Activated After 13 Years

Bitcoin traders should watch for key resistance levels, futures data, and profit-taking behavior to gauge market direction in the near term.

Saylor Hints at Major US Banks Custodying Bitcoin

Michael Saylor, CEO of MicroStrategy, hinted that major US banks may soon be allowed to custody Bitcoin. This follows news that the Bank of New York Mellon received an exemption from the SEC’s controversial SAB 121 rule.

• Main Points:

  • US banks to custody Bitcoin: Saylor suggests that one or more major US banks could soon offer Bitcoin custody services.

  • BNY Mellon’s SEC exemption: BNY Mellon obtained a key exemption from the SEC’s SAB 121 rule, fueling speculation.

  • SEC rule opposition: The crypto community, including Rep. Ritchie Torres, argues the SAB 121 rule stifles innovation.

  • Ongoing legal battle: Despite efforts to overturn the rule, its future remains uncertain.

• Detailed Insights:

  • US banks to custody Bitcoin: According to Saylor, credible rumors suggest that major US banks could soon be approved to hold Bitcoin, signaling a shift in traditional finance's stance on crypto.

  • BNY Mellon’s SEC exemption: BNY Mellon received a rare exemption from the SEC’s SAB 121 rule, which requires banks to list digital assets on their balance sheets—a move opposed by many in the industry.

  • Crypto community pushback: Cryptocurrency advocates, like Rep. Ritchie Torres, argue that the SEC’s rule hinders blockchain innovation by preventing banks from exploring Bitcoin custody.

  • SEC’s defense: SEC Chair Gary Gensler defended the rule, pointing to recent crypto bankruptcies, but the crypto lobby continues to push for its repeal.

  • Uncertain future: Though the Senate voted to ditch the rule in May, its fate will likely be decided in court.

Related: Max Keiser Clashes with Michael Saylor Over El Salvador's Bitcoin Strategy

The future of Bitcoin custody by major US banks could reshape the financial landscape, as regulatory battles continue to unfold.

"The only limit to our realization of tomorrow is our doubts of today." – Franklin D. Roosevelt

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results