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Buying Bitcoin – What attracts R. Kiyosaki to cryptocurrencies

Traditional financial instruments such as stocks, precious metals and Bitcoin are all looking to stand out as potential inflation absorbers in the current climate of rising inflation.

Robert Kiyosaki, author of the best-selling investment book Rich Dad Poor Dad, discusses Bitcoin, the ongoing economic crisis, and how cryptocurrencies are reshaping the global financial ecosystem. reiterated its view.

Kiyosaki loves Bitcoin

In a tweet on Friday, without chopping words, Kiyosaki continued his usual no-ban claims by urging investors to go for Bitcoin and precious metals.

He called cash, stocks and bonds “Cheers.”

Kiyosaki tweeted to his 1.2 million followers that he would buy BTC because pension funds are getting it.

The author cited a Forbes article titled “Your State Pension Is Now Betting On Cryptocurrencies.” This article included a poll showing that 94% of US state and local government pensions are allocating huge amounts of money to cryptocurrencies.

After last week’s massive sale of British government bonds, the Bank of England stepped in to stabilize the UK bond market, telling MPs that some pension funds would collapse within hours.

Kiyosaki also said that a series of US government policies, including excessive borrowing, rising inflation and rising interest rates, contributed to the “death” of the US dollar.

It’s time to buy crypto, says book author

This year has been a dismal year for cryptocurrencies and other global markets. BTC has lost his 71% of market peak value so far. BTC is currently trading at $19,495, up 0.9% from last week, according to Coingecko’s Sunday data.

Kiyosaki argues that the massive market crisis he predicted in 2013 is imminent and the time has come to get rich through cryptocurrencies. He predicts that future prices of Bitcoin, gold and silver will rise dramatically.

The recent collapse of global fiat currencies against the dollar has brought Kiyosaki’s advocacy for cryptocurrencies to the fore. Now

Meanwhile, the cryptocurrency has remained strong over the past two weeks as stocks plummeted despite Bitcoin’s failure to cross the $20,000 threshold. This could indicate a weakening correlation between cryptocurrencies and the stock market.

BTCUSD trading pair at $19,510 | Featured image from BitcoinChaser, Chart: TradingView.com



Buying Bitcoin – What attracts R. Kiyosaki to cryptocurrencies

Source link Buying Bitcoin – What attracts R. Kiyosaki to cryptocurrencies

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