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Bye-Bye Bitcoin? ‘Rich Dad Poor Dad’ Author Sees US Seizing All Crypto After Biden’s Executive Order

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Cryptocurrency2 hours ago (Mar 09, 2022 04:10)

© Reuters Bye-Bye Bitcoin? ‘Rich Dad Poor Dad’ Author Sees US Seizing All Crypto After Biden’s Executive Order

Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted that U.S. President Joe Biden’s executive order to regulate cryptocurrency will mark the downfall for the asset class.

What Happened: In a tweet on Wednesday, Kiyosaki told his 1.8 million Twitter (NYSE:TWTR) followers that he expects all cryptocurrencies to be seized and folded into “government crypto” following an executive order to regulate digital assets.

Others pointed out that, only six hours earlier, Kiyosaki himself had recommended saving Bitcoin in addition to gold, silver and guns.The author has been a long-term advocate of cryptocurrency and has often recommended buying Bitcoin andEthereum(CRYPTO: ETH) as a hedge against inflation.

What Else: Earlier this week, a White House anchor confirmed that the Biden administration was set to release an executive order that will see U.S. federal agencies create a framework for regulating crypto assets.

It is expected to come into effect before the end of this week and will examine the “risks and opportunities” posed by cryptocurrencies.

Price Action: At press time, Bitcoin was trading at $39,290, gaining 2.43% in the last 24 hours.

Photo by Kanchanara on Unsplash

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Bye-Bye Bitcoin? ‘Rich Dad Poor Dad’ Author Sees US Seizing All Crypto After Biden’s Executive Order

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