Robert Kiyosaki, the best-selling writer of “Wealthy Dad Poor Dad,” has predicted that U.S. President Joe Biden’s govt order to manage cryptocurrency will mark the downfall for the asset class.
What Occurred: In a tweet on Wednesday, Kiyosaki informed his 1.8 million Twitter followers that he expects all cryptocurrencies to be seized and folded into “authorities crypto” following an govt order to manage digital belongings.
BYE-BYE BITCOIN: Prediction. Biden to signal EXECUTIVE ORDER regulating Cryptos. NEXT: Fed Crypto. NEXT: all crypto currencies seized & folded into GOVERNMENT crypto. “Let’s Go Brandon” you legal. You commie.
— therealkiyosaki (@theRealKiyosaki) March 8, 2022
Kiyosaki’s take was broadly criticized by the cryptocurrency group, with some customers commenting that he didn’t “actually perceive” Bitcoin (CRYPTO: BTC) if he believed it may very well be seized by the federal government.
Others identified that, solely six hours earlier, Kiyosaki himself had really helpful saving Bitcoin along with gold, silver and weapons.
DO YOU HAVE a PLAN “B”? We’re in BIGGEST BUBBLE in world historical past. Bubbles in shares, actual property, commodities & oil. FUTURE? Attainable DEPRESSION with HYPER-INFLATION. My PLAN B: be an entrepreneur, keep out of inventory market, create personal belongings, use debt as $, save G,S, BC, weapons.
— therealkiyosaki (@theRealKiyosaki) March 8, 2022
The writer has been a long-term advocate of cryptocurrency and has usually really helpful shopping for Bitcoin and Ethereum (CRYPTO: ETH) as a hedge in opposition to inflation.
What Else: Earlier this week, a White Home anchor confirmed that the Biden administration was set to launch an govt order that may see U.S. federal businesses create a framework for regulating crypto belongings.
It’s anticipated to come back into impact earlier than the tip of this week and can study the “dangers and alternatives” posed by cryptocurrencies.
Worth Motion: At press time, Bitcoin was buying and selling at $39,290, gaining 2.43% within the final 24 hours.
Photograph by Kanchanara on Unsplash
