The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, explained why he bought bitcoin. Citing inflation, he detailed that pension funds are investing in crypto, adding that they know “fake” money, stocks and bonds are “toast.”
Robert Kiyosaki on Why He Buys Bitcoin
Rich Dad Poor Dad author Robert Kiyosaki shared why he bought 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 Best Sellers 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, author Rich Dad Poor Dad detailed that he buys bitcoin because pension funds are buying the cryptocurrency. He referenced an article published by Forbes, titled “Your state pension is currently gambling on crypto,” which contained a survey that found that 94% of pensions of U.S. state and local governments are investing in cryptocurrencies. Posting the article to his 1.2 million followers, Kiyosaki wrote:
Why do I buy bitcoins. Pension funds are the largest investment enterprise in the world.
The survey is part of the latest Investor Confidence Study, published in April by the CFA Institute, the global association of investment professionals. Research shows that institutional investors have become larger users of cryptocurrencies, with two-thirds saying they are currently investing in these products. Additionally, government-sponsored pension plans are most likely to be invested in crypto assets.
In another tweet, Kiyosaki explained why he recommends buying gold, silver, and bitcoin. The famous author explains that when pensions almost collapse, it leaves central banks unable to fix 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 lawmakers that some pension funds were hours away from collapsing when they decided to intervene in the UK bond market following a massive sell-off in UK government bonds. .
Kiyosaki also stated in his tweet that pension funds know that counterfeit money, stocks and bonds “are toast”. The popular author recently warned that the end of counterfeit money is here, urging investors to invest in “real money,” naming gold, silver, and bitcoin.
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The famous author has been recommending to buy bitcoin alongside gold and silver for quite some time. Last month, he urged investors to get into crypto now, before the biggest crash in the history of the world happened. In June, he noted that he was waiting for the bitcoin price to test $1,100.
Last week, he said that as the Federal Reserve continues to raise interest rates, there will be opportunities to buy gold, silver and bitcoin. He also predicts that the US dollar will crash in January next year after the Fed pivots.