“They’re coming for your crypto”: Robert Kiyosaki
Some people have been less-than-pleased by U.S. President, Joe Biden, and this week’s Executive Order on crypto. The author of the bestselling personal finance guide book, Rich Dad Poor Dad, Robert Kiyosaki, is one of them.
“Bye-bye Bitcoin!” he wrote in a recent tweet. “Prediction: Biden to sign executive order regulating crypto. Next: Fed crypto. Next: all cryptocurrencies seized & folded into government crypto.”
By all analysis, President Biden’s Executive Order doesn’t do any of those things, nor indicate that it’s on the horizon. Most involved in the industry see the Executive Order as a positive step for coins. The U.S. Government will look to create a CBDC, but that is some time down the track. As to its ability to “seize crypto,” the logistics of doing so are rather confused, and Kiyosaki hasn’t filled us in on how even he thinks that would work.
(The U.S. Government has supporters for decentralized currency within its ranks)
In fact, one of the most prominent lawmakers in America, Senator Ted Cruz, has vocally supported Bitcoin and other cryptocurrencies precisely because they are decentralized and therefore enormously difficult to enact government control over once in citizen’s hands.
What is particularly curious is that Kiyosaki has previously been positive on crypto himself, suggesting that it’s a good way to manage the rising rate of inflation. He did make this prediction tweet ahead of the Executive Order actually being made public, but has yet to make a follow-up tweet now that we’ve actually seen it.
This all just goes to show that even bestselling and well-regarded authors can pull the trigger a little too early in having opinions about a space as dynamic as crypto.