{"id":485763,"date":"2022-03-11T15:33:20","date_gmt":"2022-03-11T15:33:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=485763"},"modified":"2024-06-11T07:31:05","modified_gmt":"2024-06-11T07:31:05","slug":"gloomy-crypto-future","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/gloomy-crypto-future\/","title":{"rendered":"Gloomy Crypto Future? Book Author Warns We’re In The Biggest Bubble In History"},"content":{"rendered":"

Famous \u201cRich Dad, Poor Dad\u201d author Robert Kiyosaki has predicted a bleak future for the economy and the crypto market.<\/p>\n

He says we live in the largest bubble in human history — with stocks, real estate, commodities, and oil all experiencing bubbles.<\/p>\n

Kiyosaki added that hyperinflation and despair are on the table as well.<\/p>\n

Crypto Prediction<\/h2>\n

The book author predicts that the US government will seize all cryptocurrencies when US President Joe Biden signs an executive order on cryptocurrency — which the President did, on Wednesday.<\/p>\n

Bitcoin is out, he writes, and a “Fed crypto” will be launched following the signing of Biden\u2019s EO.<\/p>\n

Kiyosaki has warned of depression in the past, and this is no exception. As recently as December of last year, he cautioned that a major economic disaster was in the offing.<\/p>\n

Related Article | Massive Amount Of \u2018Sleeping\u2019 Bitcoin Moved After More Than 11 Years In Hibernation<\/a><\/em><\/strong><\/p>\n

Decentralized cryptocurrencies such as bitcoin and ether cannot be frozen or seized inside the network itself.<\/p>\n

“This is why he is so enthusiastic about bitcoin,\u201d according to US Senator Ted Cruz.<\/p>\n

Biden Signs Crypto EO<\/h2>\n

Biden\u2019s crypto directive is aimed at creating a “national strategy for digital assets across six important goals.”<\/p>\n

A government strategy to manage the dangers and utilize the potential advantages of digital assets is outlined in the executive order, among other key factors.<\/p>\n

The presidential order asks the Treasury and other agencies to “review and produce policy recommendations” to “protect US consumers, investors, and companies.”<\/p>\n

Related Article | Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts<\/a><\/em><\/strong><\/p>\n

Biden’s executive order also calls for a report on the future of money and payment systems by the secretary of the Treasury.<\/p>\n

The second objective is to “maintain financial stability in the United States and across the world.”<\/p>\n

<\/p>\n

Crypto total market cap at $1.736 trillion on the daily chart | Source: TradingView.com<\/pre>\n
The Treasury’s Role<\/h3>\n
Treasury Secretary Janet Yellen says the Treasury will expand upon the National Risk Assessments, which highlight crucial illicit financing concerns linked with digital assets under the presidential order.<\/p>\n
As the fourth objective, the Department of Commerce is being directed to develop an adequate framework to “advance US leadership in technology and economic competitiveness to strengthen US leadership in the global financial system.”<\/p>\n
A Danger To The Financial Market?<\/h3>\n
For his part, Cornell University economics professor Eswar Prasad discussed Biden’s EO on cryptocurrency regulation with CNBC.<\/p>\n
Prasad has warned about the dangers of bitcoin<\/a> to the stability of monetary and financial markets.<\/p>\n
He said the goal behind the executive order is to \u201cstart thinking about the usefulness of these diverse assets and technologies and thus govern them.”<\/p>\n
Meanwhile, Kiyosaki said he plans to “be an entrepreneur as a second option.”<\/p>\n
“Stay out of the stock market, construct your assets, and utilize debt as $,” he said.<\/p>\n
Featured image from Intelligence Squared, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Famous \u201cRich Dad, Poor Dad\u201d author Robert Kiyosaki has predicted a bleak future for the economy and the crypto market. He says we live in the largest bubble in human history — with stocks, real estate, commodities, and oil all experiencing bubbles. Kiyosaki added that hyperinflation and despair are on the table as well. Crypto Prediction The book author predicts that the US government will seize all cryptocurrencies when US President Joe Biden signs an executive order on cryptocurrency — which the President did, on Wednesday. Bitcoin is out, he writes, and a “Fed crypto” will be launched following the signing of Biden\u2019s EO. Kiyosaki has warned of depression in the past, and this is no exception. As recently as December of last year, he cautioned that a major economic disaster was in the offing. Related Article | Massive Amount Of \u2018Sleeping\u2019 Bitcoin Moved After More Than 11 Years In Hibernation Decentralized cryptocurrencies such as bitcoin and ether cannot be frozen or seized inside the network itself. “This is why he is so enthusiastic about bitcoin,\u201d according to US Senator Ted Cruz. Biden Signs Crypto EO Biden\u2019s crypto directive is aimed at creating a “national strategy for digital assets across six important goals.” A government strategy to manage the dangers and utilize the potential advantages of digital assets is outlined in the executive order, among other key factors. The presidential order asks the Treasury and other agencies to “review and produce policy recommendations” to “protect US consumers, investors, and companies.” Related Article | Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts Biden’s executive order also calls for a report on the future of money and payment systems by the secretary of the Treasury. The second objective is to “maintain financial stability in the United States and across the world.” Crypto total market cap at $1.736 trillion on the daily chart | Source: TradingView.com The Treasury’s Role Treasury Secretary Janet Yellen says the Treasury will expand upon the National Risk Assessments, which highlight crucial illicit financing concerns linked with digital assets under the presidential order. As the fourth objective, the Department of Commerce is being directed to develop an adequate framework to “advance US leadership in technology and economic competitiveness to strengthen US leadership in the global financial system.” A Danger To The Financial Market? For his part, Cornell University economics professor Eswar Prasad discussed Biden’s EO on cryptocurrency regulation with CNBC. Prasad has warned about the dangers of bitcoin to the stability of monetary and financial markets. He said the goal behind the executive order is to \u201cstart thinking about the usefulness of these diverse assets and technologies and thus govern them.” Meanwhile, Kiyosaki said he plans to “be an entrepreneur as a second option.” “Stay out of the stock market, construct your assets, and utilize debt as $,” he said. Featured image from Intelligence Squared, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":485766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[83475,428,6664],"class_list":["post-485763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-biden","tag-bitcoin","tag-crypto"],"acf":[],"yoast_head":"\nGloomy Crypto Future? 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Gloomy Crypto Future? 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