The famous author of the bestselling book Rich Dad Poor Dad, Robert Kiyosaki, has explained why he buys bitcoin. Citing inflation, he detailed that pension funds are investing in cryptocurrencies, adding that they know “fake” money, stocks and bonds “are fried.”
Robert Kiyosaki on why he buys Bitcoin
Rich Dad Poor Dad author Robert Kiyosaki shared why he buys bitcoin in a couple of tweets on Friday.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. More than 32 million copies of the book have been sold in more than 51 languages in more than 109 countries.
In a tweet, the author of Rich Dad Poor Dad explained that he buys bitcoin because pension funds are buying the cryptocurrency. He referenced an article published by Forbes, titled “His State Pension Is Now Betting on Cryptocurrencies,” which features a survey showing that 94% of US state and local government pensions are investing in cryptocurrencies. . Tweeting the article to his 1.2 million followers, Kiyosaki wrote:
Why do I buy bitcoin? Pension funds are the largest investment businesses in the world.
The survey is part of the latest Investor Trust Study, released in April by the CFA Institute, the global association of investment professionals. The study showed that institutional investors have become the biggest users of cryptocurrencies, with two-thirds saying they are currently investing in these products. Furthermore, government-sponsored pension plans are the most likely to invest in crypto assets.
In another tweet, Kiyosaki explained why he recommended buying gold, silver, and bitcoin. The famous author explained that when pensions nearly collapsed, he argued that central banks cannot fix inflation. He pointed out that pensions have always invested in gold and silver, and now they are investing in bitcoin.
Last week, the Bank of England told lawmakers that several pension funds were hours away from collapse when it decided to intervene in the British bond market after a sell-off in UK government bonds.
Kiyosaki also stated in his tweet that pension funds know that fake money, stocks and bonds “are toast”. The famous author recently warned that the end of fake money is here, urging investors to invest in “real money”, naming gold, silver and bitcoin.
The renowned author has been recommending buying bitcoin alongside gold and silver for quite some time. Last month, he urged investors to get into crypto now, before the biggest crash in world history occurs. He noted in June that he is expecting the bitcoin price to hit $1,100.
Last week, he said that as the Federal Reserve continues to raise interest rates, there will be buying opportunities in gold, silver, and bitcoin. He also predicted that the US dollar will collapse in January next year after the Fed changes course.
What do you think about Rich Dad Poor Dad author Robert Kiyosaki’s reason for investing in bitcoin? Let us know in the comments section.
image credits: Shutterstock, Pixabay, Wiki Commons
DisclaimerNote: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
