Robert Kiyosaki, the renowned author of “Rich Dad Poor Dad,” and Bitcoin enthusiast, has notified his over 2.5 million followers on the social media platform, X, that the leading cryptocurrency, Bitcoin, is entering the “Banana Zone.”
What is the ‘Banana Zone’?
In the post, Kiyosaki confirms that the “Banana Zone,” eliciting debate in the broader cryptocurrency space, is real. For context, Raoul Pal, a former Goldman Sachs executive and a notable crypto advocate, had spoken about the Banana Zone in the past.
Is the Banana Zone real?
Raoul Pal is creating a lot of excitement talking about Bitcoin hitting “the Banana Zone.”
Q: Does he know what he is talking about? Q: What is the Banana Zone? A: Yes, I believe Raoul PAL knows what he is talking about. A: “The Banana Zone” is…
— Robert Kiyosaki (@theRealKiyosaki) June 25, 2024
As per the explanation, the Banana Zone is when Bitcoin takes off on a parabolic trajectory. That is, the time that most investors express regret over not acquiring more BTC as the price begins to soar.
According to Kiyosaki, Raoul Pal has the expertise to speak on the Banana Zone subject. The author cites Pal’s professional experience at Goldman Sachs and claims that Pal influenced his decision to amass a significant amount of BTC.
“Raoul personally recommended I begin investing in the coin. Because of his encouragement, I bought 30 Bitcoin at $6,000, Kiyosaki stated.
The “Rich Dad, Poor Dad” author humorously added that the Banana Zone is the phase when people regret not buying Bitcoin earlier or not purchasing enough of it. He underscored this by stating that the 30 Bitcoin units purchased at $6,000 are currently priced at around $60,000, hence his continued monthly acquisition of BTC.
Kiyosaki’s Personal Views on Fiat and Bitcoin
Kiyosaki reiterated his view that US dollars are “fake” fiat “debt-based money” compared to Bitcoin, which he described as “rules-based money.” In his opinion, Bitcoin increases wealth while “debt-based money” diminishes it.
Interestingly, Kiyosaki predicts that Bitcoin will soar to $350,000 by August this year, driven by spot ETFs purchasing more BTC.
Despite Bitcoin’s current volatility, Kiyosaki plans to buy more BTC as he anticipates tough times ahead for the US economy and believes that accumulating the coin could protect one’s wealth. The author urged investors to shun common excuses and buy Bitcoin regardless of the price as it will keep soaring overall.
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