The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has explained why he buys bitcoin. Citing inflation, he detailed that pension funds are investing in cryptocurrency, adding that they know “fake” money, stocks, and bonds “are toast.”
Why did Robert Kiyosaki buy bitcoin?
Robert Kiyosaki, author of Rich Dad Poor Dad, 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 Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
In a tweet, the Rich Dad Poor Dad author elaborated that he buys bitcoin because pension funds are buying the cryptocurrency. He referred to an article published by Forbes titled “Your State Pension Now Gambling on Cryptocurrency”, which featured 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 I buy bitcoin. Pension funds are biggest investment businesses in the world.
The survey is part of the latest Investor Trust study, published in April by the CFA Institute, a global association of investment professionals. The study showed that institutional investors have become major users of cryptocurrencies, with two-thirds saying they are currently investing in these products. Furthermore, government-sponsored pension plans are most likely to be invested in crypto assets.
In another tweet, Kiyosaki elaborated on why he has recommended buying gold, silver, and bitcoin. The famous author explained that when pensions nearly collapsed, it exposed central banks cannot 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 it was hours after several pension funds collapsed when it decided to intervene in the British bond market following massive UK government bond sales.
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.
Well-known authors have been recommending buying bitcoin along with gold and silver for quite some time. Last month, he urged investors to get into crypto now, ahead of the biggest crash in world history. He noted in June that he was waiting for the price of bitcoin to test $1,100.
Last week, he said that as the Federal Reserve continues raising interest rates, there will be buying opportunities in gold, silver, and bitcoin. He also predicted that the U.S. dollar will crash by January next year after the Fed pivots.
