Renowned author and financial educator Robert Kiyosaki expects Bitcoin to become priceless when the Federal Reserve (Fed) introduces its own Central Bank Digital Currency (CBDC). Kiyosaki, best known for his book “Rich Dad Poor Dad,” has been an outspoken advocate for alternative investments, including cryptocurrencies like Bitcoin. His recent comments come at a time when governments and central banks around the world are exploring the development of CBDCs.
Robert Kiyosaki, has forecasted that Bitcoin will reach a state of being “invaluable” once the Federal Reserve introduces its central bank digital currency (CBDC). He cautioned about the erosion of privacy, stressing that a surveillance environment would prevail. The well-known author encouraged investors to commence accumulating Bitcoin immediately, underscoring the importance of taking action before missing out.
Robert Kiyosaki’s Caution Regarding CBDCs and His Call for Investors to Begin Storing Bitcoin Immediately
The co-author of the highly acclaimed book “Rich Dad Poor Dad,” Robert Kiyosaki, has issued a stern warning concerning the potential pitfalls associated with the Federal Reserve’s planned launch of a central bank digital currency (CBDC). Notably, “Rich Dad Poor Dad,” co-authored by Kiyosaki and Sharon Lechter, achieved remarkable success since its publication in 1997, maintaining a prominent position on the New York Times Best Seller List for an impressive six years. The book’s popularity has transcended borders, with over 32 million copies sold across 51 languages and distributed in more than 109 countries.
Kiyosaki elaborated on his concerns in a recent social media post on the platform X. He conveyed that the impending introduction of the Federal Reserve’s CBDC would entail the loss of privacy, cautioning that a surveillance state would emerge. He further emphasized that with the advent of the digital dollar, assets such as gold, silver, bitcoin, and cash would attain immeasurable value. In light of these insights, he passionately implored investors to initiate the accumulation of assets such as gold, silver, bitcoin, and cash without delay, underscoring the urgency of the matter before it reaches a critical point.
Legislative Responses and Federal Reserve’s Caution
The renowned author is not alone in expressing concerns about the potential launch of a central bank digital currency (CBDC) by the Federal Reserve. In a noteworthy development, the U.S. House Committee on Financial Services recently approved the CBDC Anti-Surveillance State Act, garnering support from 60 members of Congress. Congressman Tom Emmer (R-MN), the bill’s proponent, clarified its intent, stating, “This bill is straightforward: It puts a stop to the attempts of the Administrative State under President Biden to introduce a financial surveillance tool that could undermine the fundamental principles of the American way of life.” Additionally, in March, U.S. Senator Ted Cruz introduced legislation aimed at preventing the Federal Reserve from pursuing the creation of a direct-to-consumer CBDC.
However, it’s important to note that the Federal Reserve’s implementation of a CBDC is still a considerable distance away. As of September last year, Federal Reserve Chairman Jerome Powell emphasized that the central bank had not reached a definitive decision regarding the issuance of a digital dollar. He stated, “We have not yet made a determination, and we anticipate that it will be a matter of at least a couple of years before we reach that decision. During this time frame, we will be actively engaged in research, building public trust in our evaluation process, and arriving at our ultimate conclusion.”
Robert Kiyosaki expects Bitcoin to become priceless regarding the Federal Reserve’s potential central bank digital currency (CBDC), highlighting growing concerns over privacy and financial surveillance. His stance aligns with recent legislative actions, such as the CBDC Anti-Surveillance State Act, which aims to curb the introduction of such digital currencies. While the debate over CBDCs intensifies, the Federal Reserve remains cautious, emphasizing a lengthy deliberation process. The future of CBDCs in the United States is uncertain, with significant regulatory, privacy, and economic considerations at play. It is a complex issue that will continue to evolve as policymakers and experts navigate the path forward.