Bitcoin Reaching $500,000 Is Not a Question Of "If," It Is A Question Of "When"

Bitcoin Reaching $500,000 Is Not a Question Of “If,” It Is A Question Of “When”

This price point would be a tremendous blessing for crypto-enthusiasts and reflect spectacular growth from its current value. On the day of writing this article, Bitcoin ‘s closing out rate was $ 22,529 – an increase of 2,211% is needed to reach $500,000!

It may seem impossible for Bitcoin to experience such a drastic price increase in light of the crypto winter which saw its prices plummet more than 50%. However, this situation becomes much more plausible when looking at BTC’s pricing history. Over the past decade alone, Bitcoin has skyrocketed by a staggering 8500%, with January 2014 bringing an unprecedented value of just $800 per coin. Although many traders and investors are still pessimistic about cryptocurrency after the pandemic-induced crash, it is clear that nothing can impede its remarkable growth potential.

Robert Kiyosaki Says Dollar’s Collapse Will Cause Bitcoin to Rise

Robert Kiyosaki, the best-selling author of “Rich Dad, Poor Dad” and a strong Bitcoin proponent, firmly believes that America’s skyrocketing debt figure (already surpassing an astonishing $30 trillion!) ensures its eventual downfall. As he puts it, sooner or later, this monetary policy will lead to a collapse of the US dollar, which makes his vocal criticism all the more relevant.

Robert Kiyosaki tweeted:

“Giant crash coming. Possible depression. Fed forced to print billions in counterfeit money. By 2025, gold at $5,000, silver at $500, and Bitcoin at $500,000. Why? Because faith in the US dollar, counterfeit money, will be destroyed. Gold and silver are the money of the gods. Bitcoin is people’s money. Be careful.”

In addition, he agrees with the SEC’s stance that Bitcoin is the only cryptocurrency considered a commodity. As regulation against other digital assets begins to take effect—which has already begun—Bitcoin will be viewed as an increasingly attractive crypto asset for investment purposes which could lead to its price skyrocketing.

Bitcoin Reaching $500,000 Is Not a Question Of "If," It Is A Question Of "When"

Cathie Wood Thinks that coin Will Reach Expected Levels, Even If Not So Quickly

Despite being confident that Bitcoin will eventually hit $500,000, Cathie Wood of the investment manager Ark Invest believes it may take longer to get there. The company has over $50 billion under management, and their recently published report ‘Big Ideas 2023’ outlines their trust in cryptocurrency’s future potential.

Cathie Wood predicted that BTC could reach US$ 500,000 by 2030 and even exceed US$ 1 million in the following decade. Furthermore, she declared that “the fundamentals of the leading cryptocurrency remain strong, and indeed, the recent downturn in the industry has only strengthened bitcoin’s long-term opportunities.” Whether Robert Kiyosaki and Cathie Wood’s forecasts are accurate remains to be seen for asset devotees and investors alike.

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