Why Robert Backs Wood’s $2.3 Million BTC Price Prediction

Source: Blockchain Knight

Robert Kiyosaki, a well-known author known for his bestselling book "Rich Dad, Poor Dad", expressed support for Cathie Wood's "guess" of a price of $2.3 million per BTC. Kiyosaki admires Wood's wisdom and strong belief in the future of BTC.

Cathie Wood's Ark Invest made an interesting prediction for BTC in its "2024 Big Ideas" report in February.

The company believes that if 19.4% of the world's institutional assets (worth up to $250 trillion) move to BTC, the price of BTC could soar to $2.3 million.

At the time, Ark Invest also emphasized that BTC has become an independent asset class that deserves "strategic allocation in institutional portfolios" because BTC price movements are not highly correlated with those of other Crypto asset classes.

Robert Kiyosaki recently published an article on X, sharing his confidence in his prediction that BTC can reach a "sky-high" price of $2.3 million, and pointed out that he believes in Cathie Wood's judgment because she is very smart.

Cathie Wood recently upped the ante, predicting that if institutional investors replace at least 5% of their portfolios with BTC, the price of BTC could reach as high as $3.8 million.

While the famous stock picker is often criticized for her ambitious price targets, Kiyosaki praised her for being brave enough to make such a prediction.

Whether Wood's prediction comes true or not, Kiyosaki claims that those who follow her advice will have a better understanding of BTC.

School is the only place in the world where "smart people" can never make mistakes, but in the real world, the richest and happiest people are those who make mistakes and learn from them.

Despite the all-time high near $74,000 in March, BTC is currently in a state of volatility. Currently, BTC is up 3.5% on the weekly chart and trading at $70,556, according to Coingecko.

Wood’s Ark is one of the iconic asset managers that received approval from the SEC (U.S. Securities and Exchange Commission) to list a spot BTC ETF in January this year.

After the launch of the investment tool, Wood predicts that BTC will continue to grab the global market from gold because now traditional investors have a simpler and safer way to get exposure to the benchmark Crypto asset without having to buy and store it.