Rich Dad Poor Dad's Kiyosaki is buying more Bitcoin today, but why?

People often buy Bitcoin in the hope that they will be able to sell it to others for higher profits. But for a well-known financial expert like Robert Kiyosaki, Bitcoin is an opportunity to escape government oversight. The author of “ Rich Dad Poor Dad '' tweeted on Wednesday morning that he would buy Bitcoin due to his concerns over the “ digital yuan '', a federally controlled version of Bitcoin that has been submitted to court by the People's Bank. China. Tuesday, after it took years to develop it. China's announcement of government crypto today is good news for Bitcoin. More Bitcoin for government surveillance than fake crypto. Buy more Bitcoin. – therealkiyosaki (@theRealKiyosaki) April 7, 2021 Bitcoin vs Digital Yuan war heats up In retrospect, the Digital Yuan falls under the category of central bank digital currency, or CBDC, whose sole purpose is to create a national currency on top of a dedicated blockchain-ledger. Bitcoin, on the other hand, serves as a decentralized cryptocurrency managed not by a single person but by hundreds of thousands of assets – in other words, by miners. As always, no government or central bank can control Bitcoin's source code, making it more independent than a regular CBDC. But with China's inclusion in the CBDC space, it's more about almost controlling people's finances. In a statement to the Financial Times, a Wall Street banker stated that President Xi Jinping's authoritarian regime will use digital yuan or digital renminbi to keep people's day-to-day transactions under the radar – this is already doing so thanks to strict internet policies. "[Digital renminbi] is strongly linked to the [Chinese Communist] Party's ability to exercise control," said Samantha Hoffman, senior analyst at the Australian Strategic Policy Institute. These types of fears alone have caused people to prefer Bitcoin. While every transaction on Bitcoin's blockchain can be tracked, supporters often hide behind an absurd alpha. Read more

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