29 C
Mumbai
Saturday, June 25, 2022

Robert Kiyosaki Warns Government Will Seize All Cryptocurrencies

Robert Kiyosaki Says 'We Are in Biggest Bubble in World History'

Must read

The author of Rich Dad Poor Dad, Robert Kiyosaki, has made several gloomy predictions and warnings, on Wednesday, Kiyosaki told his 1.8 million Twitter followers that he expects all cryptocurrencies to be seized and folded into “government crypto” following an executive order to regulate digital assets.

Kiyosaki has been a long-term advocate of cryptocurrency and has often recommended buying Bitcoin and Ethereum as a hedge against inflation. But this time Kiyosaki’s take was widely criticized by the cryptocurrency community, with some users commenting that he did not “really understand” Bitcoin if he believed it could be seized by the government.

People stressing that he should have waited to see what’s actually in the executive order before speculating recklessly on it. Many people think that President Biden’s executive order is very positive for the crypto industry.

Jerry Brito, executive director of D.C.-based think tank Coin Center, commented: The message I take from this executive order is that the federal government sees cryptocurrency as a legitimate, serious, and important part of the economy and society.

The famous author proceeded to warn that we are in the biggest bubble in world history, citing bubbles in stocks, real estate, commodities, and oil. As far as the future outlook, he warned about hyperinflation and a depression.

Kiyosaki tweeted: We are in biggest bubble in world history. Bubbles in stocks, real estate, commodities & oil … Future? possible depression with hyperinflation.

He then explained that his plan B is to “be an entrepreneur”, Specifically “stay out of stock market, create own assets, use debt as $,” he wrote.

In addition, decentralized cryptocurrencies, like bitcoin and ether, cannot be frozen or seized directly within the network. U.S. Senator Ted Cruz recently described: “One of the reasons why I’m so bullish on bitcoin is because it is decentralized and not controllable.”

 

Read More:

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article