Renowned author Robert Kiyosaki, best known for his book “Rich Dad Poor Dad,” has sparked debate within the financial and cryptocurrency communities with his recent reflections on the future of bitcoin (btc) and the US dollar. Kiyosaki’s contemplation came in response to an announcement from Citibank about his foray into blockchain technology.
Citibank, a subsidiary of Citigroup Inc., introduced its innovative Citi Token Services, a trading solution designed to leverage blockchain for instant cross-border transactions by tokenizing customer deposits.
Kiyosaki couldn’t help but wonder about the implications of this development for both bitcoin and the traditional US dollar.
Robert Kiyosaki: Reflections on Citibank’s Blockchain Movement
in a thought provoking post Shared on social media platform X, Robert Kiyosaki expressed his concern and asked: “Citibank today announced that it is offering banking blockchain technology to convert institutional savings into Citibank tokens that can be used for instant cross-border transactions 24/7. Goodbye BC and US dollars?
GOODBYE bitcoin and the US dollar? Citibank announced today that it is offering banking blockchain technology to convert institutional savings into Citibank tokens that can be used for instant cross-border transactions 24/7. Goodbye BC and US dollars?
—Robert Kiyosaki (@theRealKiyosaki) September 26, 2023
He bitcoin-after-citibank-launches-ne” target=”_blank” rel=”noopener nofollow”>launch of Citibank’s Citi Token services It marks a significant step towards revolutionizing payment processing with smart contract integration. This service aims to provide real-time, always-on transactional banking services to institutional clients by converting customer deposits into digital tokens on a private blockchain.
bitcoin pushing near the $27K border. Chart: TradingView.com
Exploring the impact on bitcoin and the US dollar
While Robert Kiyosaki’s research suggests potential competition for bitcoin, some industry experts see this as a boon for the cryptocurrency. DigiBuild CEO Robert J. Salvador noted that Citibank’s move does not pose a threat to bitcoin, but rather contributes to broader adoption and use of cryptocurrencies.
according to saviorbitcoin‘s value proposition remains unchanged and its status as the fastest and most convenient payment method remains strong.
They are putting dollars on a private blockchain, which changes nothing for bitcoin or its value proposition.
If anything, it continues to drive the adoption and use of cryptocurrencies.
— Robert J Salvador (@RobertJSalvador) September 26, 2023
bitcoin-and-usd/” target=”_blank” rel=”noopener nofollow”>Robert Kiyosaki’s feelings towards bitcoin It is no secret, as it is considered “digital gold”, along with its physical counterparts, gold and silver. He strongly believes in the importance of these assets and often states that bitcoin is the “people’s money” while gold and silver are “God’s money.”
Notably, Kiyosaki predicted in April that bitcoin would rise to $100,000, emphasizing its unique place in the global financial landscape.
As the financial world continues to evolve with the advent of blockchain technology and digitalization, the interaction between cryptocurrencies like bitcoin and traditional financial institutions like Citibank will undoubtedly shape the future of global finance.
Kiyosaki’s contemplation serves as a testament to the ongoing transformation and innovation within the industry, leaving us to reflect on the fate of bitcoin and the dollar in this rapidly changing landscape.
Featured image from iStock
