Robert Kiyosaki, author of the best seller ‘Rich Dad Poor Dad,’ recently warned investors about the government seizing all cryptocurrencies. He also said that we are in the biggest bubble in history, and the great depression is coming. This is not the first time Robert has made such statements. He has always distrusted the government and has therefore advised investors to buy Bitcoin, Gold, and Silver. However, it seems even crypto can’t save you if the government seizes it.
The great depression
Robert Kiyosaki recently tweeted to his followers asking whether they have a plan B. He pointed out that we are in a great bubble, and when it bursts, hyperinflation and depression could follow. The assets in the bubbles are stocks, real estate, oil & commodities. The solution to this, which he gave, was to stay out of the stock market and make your own assets with debt as funding.
This doesn’t come as a surprise as Robert has spoken about the great depression time and again. Back in November 2021, he said similar things and also talked about inflation. To combat the same, he advises investors to invest like a capitalist.
Government seizing all cryptocurrencies?
Now, this seems like a stretch. Robert Kiyosaki has always been wary of the government because of well-known reasons but saying that they will seize all cryptocurrencies could be a little over the top. In fact, Robert tweeted this out on Tuesday, and Biden’s crypto executive order was leaked on Wednesday. The EO was actually quite favorable to the crypto space and considered it a legitimate part of the economy.
In fact, this was the reason why Robert was criticized by many investors in the crypto community. They just said that Robert should have at least waited for the order from the government before speculating. The entire narrative of cryptocurrencies has changed with this EO, and it could be the turning point of the industry. Plus, Robert saying that government will seize all Bitcoin can only apply if you have it on centralized exchanges. Using a hardware wallet or even a DEX keeps your crypto primarily safe.
Do you think Robert went a little over the top by saying that the government seizing all cryptocurrencies is a possibility? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Biden’s crypto executive order is as good as it gets