People usually buy Bitcoin in hopes that they would be able to sell it to others for higher profits. But for a celebrated financial expert like Robert Kiyosaki, Bitcoin is an opportunity to break away from government surveillance.
The ‘Rich Dad Poor Dad’ author delivered a tweet Wednesday morning in which he said that he would buy Bitcoin because of his anxieties over “digital yuan,” a federally-controlled version of Bitcoin, put to trial by the People’s Bank of China on Tuesday after taking years for developing it.
China announcing government crypto today is good news for Bitcoin. Would rather have Bitcoin than government fake surveillance crypto. Buying more Bitcoin.
— therealkiyosaki (@theRealKiyosaki) April 7, 2021
Bitcoin versus Digital Yuan Battle Heats Up
In retrospect, Digital Yuan falls in the category of central bank digital currencies, or CBDC, whose sole purpose is to put a national currency atop a private blockchain ledger. Bitcoin serves in contrast as a