Robert Kiyosaki, author of the best-selling “Rich Dad Poor Dad,” recently warned investors against the government seizing all cryptocurrencies. He also said we were in the biggest bubble in history and the great depression was coming. This is not the first time that Robert has made such statements. He always distrusted the government and therefore advised investors to buy Bitcoin, gold and silver. However, it seems that not even crypto can save you if the government takes hold of it.
The great Depression
Robert Kiyosaki recently tweeted to his followers asking if they had a plan B. He pointed out that we are in a big bubble and when it bursts hyperinflation and depression could follow. Assets in bubbles are stocks, real estate, oil and commodities. The solution to this, which he gave, was to stay out of the stock market and create your own assets with debt as funding.
This is no surprise as Robert spoke about the Great Depression many times. 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 seizes all cryptocurrencies?
Now that seems like a stretch. Robert Kiyosaki has always distrusted the government for well-known reasons, but to say he will seize all cryptocurrencies might be a bit of a stretch. In fact, Robert tweeted this on Tuesday, and Biden’s crypto executive order was leaked on Wednesday. The EO was actually quite supportive of the crypto space and saw it as a legitimate part of the economy.
In fact, this is why Robert has been 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 whole cryptocurrency narrative has changed with this EO, and it could be the turning point for the industry. Also, Robert saying the government will seize all bitcoin may only apply if you have it on centralized exchanges. Using a hardware wallet or even a DEX keeps your crypto secure.
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