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Why ‘Rich Dad, Poor Dad’ Author Is Calling Janet Yellen The ‘Queen Of Bitcoin’


© Reuters. Why ‘Rich Dad, Poor Dad’ Author Is Calling Janet Yellen The ‘Queen Of Bitcoin’

Robert Kiyosaki, the bestselling author of “Rich Dad, Poor Dad”, has called U.S. Secretary of the Treasury Janet Yellen the “queen of Bitcoin (CRYPTO: BTC).”

What Happened: In an email to customers of his financial education firm, Kiyosaki said Yellen was the “best thing to ever happen to Bitcoin,” as her critical comments about the apex cryptocurrency have seemingly led to an increase in its value.

When Yellen had said “Bitcoin is extremely inefficient,” it and many other cryptocurrencies “shot up,” according to Kiyosaki.

Responding to Yellen’s earlier comments on Bitcoin being used by drug dealers, Kiyosaki wrote, “REALLY??? And dollars aren’t? Oh please.”

“Janet Yellen is the accidental queen of Bitcoin. God bless her, since we invest in Bitcoin and crypto,” wrote Kiyosaki.

See Also: How To Buy Bitcoin (BTC)

Why It Matters: Last year, Yellen expressed concerns about cryptocurrencies being used in illegal activities.

In February, she said Bitcoin was an inefficient way to conduct transactions, but the coin slipped below the psychologically important $50,000 mark after these comments.

Kiyosaki said earlier this week that President Joe Biden’s executive order would lead to a downfall of the asset class, drawing heavy criticism from the cryptocurrency community.

Cryptocurrencies spiked on Wednesday after details of the executive order were revealed through a leaked Yellen press release.

Price Action: At press time, BTC traded 6.2% lower over 24 hours at $39,303.98.

Read Next: Investing Stimulus Checks In This Cryptocurrency Would Have Fetched Whopping 23674% Returns Now

Photo by Mark Warner on Wikimedia

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

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Why ‘Rich Dad, Poor Dad’ Author Is Calling Janet Yellen The ‘Queen Of Bitcoin’

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