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Robert Kiyosaki Explains Why He Buys Bitcoin Citing Pension Funds And Inflation – Bitcoin News Economics

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Robert Kiyosaki, famous author of the bestselling Rich Dad Poor Dad, explained why he bought Bitcoin. Citing inflation, he explained that pension funds invest in cryptocurrencies, adding that they know that “fake” money, stocks and bonds are “toast.”

Robert Kiyosaki on why he buys Bitcoin

Rich Dad Poor Dad author Robert Kiyosaki shared why he’s buying bitcoin in a few 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 more than 51 languages ​​in more than 109 countries.

In one tweet, the author of Rich Dad Poor Dad explained that he is buying bitcoin because pension funds are buying cryptocurrency. pointed to Article – Commodity Published by Forbes with the title “Your State Pension Is Now Gambling With Crypto,” which includes a survey showing that 94% of US and local state and local pensions invest in cryptocurrency. On Twitter, Kiyosaki wrote the article to his 1.2 million followers:

Why do I buy Bitcoin? Pension funds are the largest investment companies in the world.

Scanning is part of the latest Investor confidence study, published in April by the CFA Institute, the global association of investment professionals. The study showed that institutional investors are becoming larger users of cryptocurrencies, with two-thirds of them saying they are currently investing in these products. Additionally, government-sponsored retirement plans are likely to be invested in crypto assets.

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In another tweet, Kiyosaki explained why he is proposing to buy gold, silver and bitcoin. The famous author explained that when pensions almost collapsed, she revealed that central banks could not fix inflation. He noted that pensioners have always invested in gold and silver, and now they are investing in bitcoin.

Robert Kiyosaki explains why he buys bitcoin citing pension funds and inflation

Last week, the Bank of England told lawmakers that a number of pension funds were hours of collapse When I decided that intervention In the British bond market after the massive sale of British government bonds.

Kiyosaki also mentioned in his tweet that pension funds know that fake money, stocks, and bonds are “toast.” A famous author recently warned that The end of fake money Here, we urge investors to invest in “real money,” naming gold, silver and bitcoin.

Famous author has recommended buy bitcoin Next to gold and silver for some time. Last month, he urged investors to Enter the encryption now, before the biggest collapse in world history hits. He indicated in June that he was waiting for the bitcoin price to be tested $1100.

Last week, he said that as the Fed continues to raise interest rates, there will be Buying Opportunities Gold, silver and bitcoin. He also predicted that the US dollar will Collide By January next year after the Fed hubs.

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What do you think of Rich Dad Poor Dad author Robert Kiyosaki’s reason to invest in Bitcoin? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been a missionary ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

photo credits: Shutterstock, Pixabay, Wikicommons

disclaimer: 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 products, services or companies. Bitcoin.com It does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, 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.


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How to keep your cryptocurrency safe after the FTX crash

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The fall of cryptocurrency exchange FTX has forced many to reconsider their general approach to investments — from self-holding to checking for on-chain funds. This shift in approach was mainly driven by the distrust of crypto investors in the entrepreneurs after they were deceived by the CEO and co-founder of FTX. Sam Bankman-Fried (SBF).

FTX crashed after SBF and its partners were caught secretly reinvesting users’ money, leading to a Loss of at least $1 billion of customer funds. Efforts to restore investor confidence have led to rival cryptocurrency exchanges proactively boasting of proving their reserves to confirm the existence of users’ funds. However, community members have since demanded that exchanges demonstrate their commitment to protect reserves.

With SBF, the self-proclaimed “Most Generous Billionaire,” committing fraud in broad daylight with no apparent legal implications, investors must maintain a defensive stance when it comes to protecting their investments. To protect assets from fraud, hacking, and misappropriation, investors must take certain measures to maintain complete control of their assets—often considered a best crypto investing practice.

Transfer your money from cryptocurrency exchanges

Cryptocurrency exchanges are widely used to buy, sell and trade cryptocurrencies for a small fee. While other methods, including peer-to-peer and outright selling, are always an option, the higher exchange liquidity allows investors to match orders and ensure they don’t lose money during a transaction.

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The problem arises when investors decide to keep their money in wallets owned and offered by the stock exchanges. Unfortunately, this is where most investors learn the “not your keys, not your coins” lesson the hard way. Cryptocurrencies that are stored in wallets provided by the exchange are ultimately in the possession of the owner, which in the case of FTX users, has been abused by the SBF and its partners.

Avoiding these risks is as simple as moving funds from an exchange to a wallet without shared private keys. Private keys are secure cryptocurrencies that allow access to funds stored in crypto wallets, which can be recovered using a backup phrase in case they are misplaced.

Hardware wallet: The safest bet for storing cryptocurrency

Hardware wallets provide complete ownership of the private keys of a crypto wallet, limiting the funds’ access to only the owner of the hardware wallet. After purchasing cryptocurrencies from an exchange, users must voluntarily transfer their assets to a file hardware wallet.

Once the transaction is completed, the owners of the cryptocurrency exchange will not be able to access the fund. As a result, investors who choose a hardware wallet will not risk losing money due to scams or hacks that happen across the exchanges.

Related: What is a bitcoin wallet? A beginner’s guide to storing bitcoin

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However, while hardware wallets add to the overall security of funds, cryptocurrencies remain at risk of non-permanent losses when the value of the token falls beyond recovery. Hardware wallet providers have seen a sharp increase in sales as investors slowly move away from storing their assets on exchanges.

Don’t trust, check

In all crypto crashes this year – incl 3ACAnd the Terraform LabsAnd the CelsiusAnd the Voyager And the FTX Breaking investor confidence was a common and obvious theme. As a result, the slogan “Don’t trust, verify” is finally resonating with both new and seasoned investors.

Popular cryptocurrency exchanges, incl BitfinexAnd the binanceAnd the OKXAnd the ByteAnd the Huobi and Gate.io, have taken proactive methods to display proof of their reserves. Exchanges have introduced portfolio information that allows investors to self-check the presence of their funds on the exchange.

While the Proof of Reserve provides a snapshot of an exchange’s reserves, it fails to provide the full picture of its finances because information on liabilities is often not publicly available. On November 26, Kraken CEO Jesse Powell contacted him Binance Reserve Proof of “Either Ignorance or Willful Misrepresentation” Where the data did not include negative balances.

but, Binance CEO Changpeng Zhao He refuted Powell’s claims by saying that the exchange has no negative balances and that will be verified in an upcoming audit.

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The above three considerations are a good starting point for protecting your crypto assets from the bad guys. Some other popular methods are used to take control away from cryptocurrency entrepreneurs Decentralized Exchanges (DEX)And the self-custodial governors (non-custodial) and conducting extensive research (DYOR) on projects that appear investable.