Personal finance author and investor Robert Kiyosaki is issuing a warning to crypto investors.
In a series of tweets, the Rich Dad Poor Dad author shares his fears about the government seizing people’s digital assets.
Kiyosaki predicts President Biden’s executive order will pave the way for the government to create its own digital asset at the expense of current crypto industry.
“NEXT: Fed Crypto. NEXT: all crypto currencies seized and folded into GOVERNMENT crypto.”
The longtime investor also warns his 1.8 million Twitter followers that the economy is in a bubble and they should think about having a financial backup plan if it were to ever burst.
“Do you have a plan B? We are in the biggest bubble in world history. Bubbles in stocks, real estate, commodities and oil.
Future? Possible depression with hyper-inflation.
My plan B: be an entrepreneur, stay out of stock market, create own assets, use debt as money, save gold, silver, Bitcoin, guns.”
Kiyosaki’s career has not been without controversy. In 2013, a class-action lawsuit was filed against him by people who were not satisfied after attending his paid seminars.
Back in 2012, the once best-selling author also filed for bankruptcy through one of his companies called Rich Global LLC.
President Biden signed an executive order on Wednesday which stresses the need to harness the benefits of cryptocurrencies and blockchain technology while also reducing the risk to consumers and the overall financial system. The order would also look into the pros and cons of issuing a central bank digital currency (CBDC).
The White House has tasked multiple US agencies with coming up with best-practices solutions to ensure that Americans are protected when investing in the growing crypto economy.
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