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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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Rich Dad Poor Dad Author Sees US Seizing All Crypto

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.

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

Kiyosaki’s take was widely criticized by the cryptocurrency community, with some users commenting that he did not “really understand” Bitcoin if he believed it could be seized by the government.

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 and Ethereum as a hedge against inflation. Although, there are several cryptocurrencies that may serve to be good assets to hedge against inflation.

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.

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