Key Points
- Robert Kiyosaki, the author of ‘Rich Dad Poor Dad’, predicts Bitcoin will enter the ‘Banana Zone’, a phase of considerable price increase.
- Kiyosaki’s prediction is based on a forecast by former Goldman Sachs hedge fund manager, Raoul Pal, who coined the term ‘Banana Zone’.
Robert Kiyosaki, the acclaimed author of ‘Rich Dad Poor Dad’, is of the view that Bitcoin will soon experience a significant price surge, entering what is known as the ‘Banana Zone’.
Kiyosaki shared his prediction in a post on Wednesday, June 26, suggesting that Bitcoin is on the verge of entering a period of substantial price growth.
Endorsement of Raoul Pal’s Bitcoin Forecast
Kiyosaki’s post was a response to a prediction by Raoul Pal, a former hedge fund manager at Goldman Sachs, who first introduced the concept of the Banana Zone for Bitcoin.
Kiyosaki expressed his faith in Pal’s forecast, attributing it to Pal’s professional expertise. He revealed that Pal had previously advised him to invest in Bitcoin, marking his entry into the world of cryptocurrency.
Kiyosaki purchased 30 Bitcoins at $6,000 each, which are now valued at $60,000 each. He also disclosed that he continues to buy Bitcoin on a monthly basis.
Kiyosaki also anticipates that the surge in Bitcoin’s value will lead many to regret not having invested in the cryptocurrency or not having bought more. He outlined his reasoning for Bitcoin’s entry into the Banana Zone as follows:
“Simply put, Bitcoin represents ‘rules-based money’. Government-issued fiat money is ‘debt-based’. ‘Rules-based money’ makes you wealthier, while the government’s fictitious ‘debt-based’ money makes you poorer. Hold on tight as Bitcoin takes off into the ‘Banana Zone’.”
Pal shared his views on an episode of his podcast, “The Wolf of All Streets”, with Scott Melker. He predicted that cryptocurrencies would perform exceptionally well in the last quarter of a presidential election year. He also expressed bullish sentiments about Ethereum and Solana.
Buying the Dip: Kiyosaki’s Advice to Investors
Kiyosaki, a long-standing advocate of Bitcoin, advised investors to buy more Bitcoin in a post a day prior. He suggested that the current market downturn should be viewed as an excellent buying opportunity rather than a cause for panic.
On June 24, Bitcoin, the world’s largest cryptocurrency by market cap, fell below $60,000. As per CoinMarketCap data, Bitcoin is currently valued at $61,500.
In his post, Kiyosaki stated that market crashes should not deter investors. Instead, he is “waiting to buy more” as others are selling. His strategy is to “buy and hold on forever”.
“If crashes terrify you, sell and cling tightly to your job, which is what most ’employees’ should do. Simply put, entrepreneurs and employees are two sides of the same coin.”
Kiyosaki further explained that all markets experience ups and downs, which could be advantageous for investors who understand market movements. Additionally, he noted that investors often make large profits by trading assets, buying at low prices with the hope of selling high.
