Is Kiyosaki Jumping On The Bitcoin-bashing Bandwagon

Author and financial expert Robert Kiyosaki has predicted that an upcoming executive order from the Biden administration will mark the downfall for cryptocurrencies as an asset class.

Bitcoin - BTC

Robert Kiyosaki, the author of “Rich Dad Poor Dad”–the #1 personal finance book of all times, has predicted that an executive order from the Biden administration that appears to take a supportive stance toward cryptocurrencies, will mark the downfall for the asset class.

In a tweet on Wednesday, Kiyosaki, who in November said he was buying more hedge assets like gold, silver, bitcoin (BTC) and ether (ETH), told his 1.8 million Twitter followers that he expects all cryptocurrencies to be seized and incorporated into “government crypto” following an upcoming executive order to regulate digital assets.

Kiyosaki’s take was mostly objected with one user commenting that Kiyosak did not understand BTC if he thought it might be seized by the government.

That will never happen if you understand Bitcoin,” the user said, while another wrote: “Not your keys. Not your coins.”

Others pointed out that the seizure thesis doesn’t stand with already nearly 19 million bitcoin issued versus only 2.1 million left.

Only hours prior to the tweet, Kiyosaki, who has long been a proponent of cryptocurrencies as his preferred inflation hedge given the asset’s scarcity and portability elements, had advised investors to save BTC, in addition to gold and silver.

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