Robert Kiyosaki, the famous author of the best-selling book “Rich Dad, Poor Dad,” explained why he buys bitcoin. Citing inflation, he detailed that pension funds are investing in cryptocurrencies, adding that they know that “fake” money, stocks, and bonds are “doomed.”
Robert Kiyosaki on why he buys bitcoin
Robert Kiyosaki, author of “Rich Dad, Poor Dad,” discussed his reasons for buying bitcoin in a tweet on Friday.
“Rich Dad, Poor Dad” was co-authored by Kiyosaki and Sharon Rector in 1997. It has been on the New York Times bestseller list for more than six years. It has also sold more than 32 million copies in over 109 countries and 51 languages.
In one tweet, the author of Rich Dad, Poor Dad detailed buying bitcoin because pension funds are buying cryptocurrencies. He referenced a Forbes article titled “Your State Pension Is Now Gambling On Cryptocurrency”and cited a study showing that 94% of state and local government pensions in the U.S. are investing in cryptocurrencies. 1.2 million Tweeting this article to his followers, Kiyosaki wrote:
Why I Buy Bitcoin. Pension funds are the largest investment business in the world.
This survey is part of the latestpart of the “Investor Confidence Survey”. The survey is part of the Investor Confidence Surveyreleased in April by the CFA Institute, a global association of investment professionals. The survey found that institutional investors are becoming larger users of cryptocurrencies, with two-thirds saying they are currently invested in these instruments. Government-sponsored pension plans are also the most likely to invest in crypto assets.
In another tweet, Kiyosaki elaborated on why he recommends buying gold, silver, and bitcoin. The famous writer explained that when pensions were about to collapse, it exposed the inability of central banks to correct inflation. He noted that pensions have always invested in gold and silver, and now they are investing in bitcoin.
Last week, the Bank of England told MPs that many pension funds werehoursbefore going bust when it decided to intervene in the UK bond market after a massive sell-off in UK government bonds.
Kiyosaki also said in a tweet that pension funds know that fake money, stocks and bonds are “doomed.” The famous writer recently warned that the end of fake money has come and urged investors to invest in “real money,” naming gold, silver, and bitcoin.
The famous author has been recommending buying bitcoin along with gold and silver for quite some time. Last month, he urged investors to get into crypto now, before the biggest crash in world history hits. He noted in June that the price of bitcoin is waiting to test $1,100.
Last week, he said there are buying opportunities in gold, silver, and bitcoin as the Federal Reserve continues to raise interest rates. He also predicted that the U.S. dollar will crash by next January after the Fed pivots.
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