Press "Enter" to skip to content

“Rich Dad Poor Dad” Author: Chinese Bitcoin Ban Means China Close To Launching Its Government Coin

Renowned real-estate investor and author of the best-selling book on financial literacy “Rich Dad, Poor Dad” Robert Kiyosaki has taken to Twitter to put forward the allegedly real pretext why China has declared another prohibition on BTC and all other digital assets.

Kiyosaki has commented on the new documents released by the Chinese Central Bank (PBOC). The aforementioned documents declaring operations with all the digital assets unlawful were issued at the beginning of this month. However, they were made public only on Friday.

Evergrande Collapse And Chinese Digital Yuan

The announcement of the People’s Bank of China pushed the whole virtual currency market in a dip, forcing BTC to decline around forty thousand dollars and making ETH go under the three thousand dollars mark.

This was the 2nd notable blow to the digital asset market this week. Interestingly, the first blow also originated from China, when the 2nd biggest housing developer China Evergrande Group was unable to pay back its debt of around 2-trillion-yuan to shareholders and witnessed the price of its stocks go down.

Kiyosaki suspects that by declaring digital asset transactions and subsequently the virtual currency-related businesses unlawful in the nation, the Chinese government together with the PBOC are allegedly assisting in launching their own CBDC or digital yuan.

What do you think about the aforementioned development? Let us know in the comments below!

Image by Allange from Pixabay

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *