Bitcoin, Ethereum, Dogecoin Holders: Will Crypto Be Confiscated Like 'Rich Dad, Poor Dad' Author Predicts?

This article was originally published on March 13, 2022.

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following question to over 1,000 Benzinga readers on cryptocurrency investing: Do you agree with "Rich Dad, Poor Dad" author Robert Kiyosaki that the US will confiscate your crypto?

On Tuesday, Kiyosaki, the best-selling author of "Rich Dad Poor Dad," predicted that President Joe Biden's executive order to regulate cryptocurrency will mark the downfall for the asset class.

BYE-BYE BITCOIN: Prediction. Biden to sign EXECUTIVE ORDER regulating Cryptos. NEXT: Fed Crypto. NEXT: all crypto currencies seized & folded into GOVERNMENT crypto. "Let's Go Brandon" you criminal. You commie.

— therealkiyosaki (@theRealKiyosaki) March 8, 2022

DO YOU HAVE a PLAN "B"? We are in BIGGEST BUBBLE in world history. Bubbles in stocks, real estate, commodities & oil. FUTURE? Possible DEPRESSION with HYPER-INFLATION. My PLAN B: be an entrepreneur, stay out of stock market, create own assets, use debt as $, save G,S, BC, guns.

— therealkiyosaki (@theRealKiyosaki) March 8, 2022

Our Benzinga team covered the full story surrounding Kiyosaki's crypto thoughts here. Kiyosaki sent a pair of tweets out, some might frame as heavy-handed in nature, before the true details of Biden's crypto executive order came into the spotlight Wednesday.

Here are the full results from this week's survey:

• Yes, The US Will Confiscate Cryptocurrencies: 32.2%
• No, The US Will Not Confiscate Cryptocurrencies: 67.8%

Most readers believe Kiyosaki's comments on the U.S. confiscating popular cryptos like Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD are off base. The reality is, Biden isn't coming down hard on regulating crypto, at least not yet. According to a statement released by the White House on Wednesday, Biden's executive order on crypto will "establish the first-ever comprehensive federal digital assets strategy for the United States."

"The E.O. will help position the U.S. to keep playing a leading role in the innovation and governance of the digital assets ecosystem at home and abroad, in a way that protects consumers, is consistent with our democratic values and advances U.S. global competitiveness," the statement adds.

The White House continued, "This E.O. is the product of months of work with stakeholders across government, industry, advocacy, academia, and international allies and partners – to identify actions we can take to foster responsible innovation in the digital asset ecosystem. Its implementation will leverage the knowledge and distinct expertise of a broad range of stakeholders across the White House and Executive departments and agencies, and regulatory agencies."

"We remain committed to working with allies, partners, and the broader digital asset community to shape the future of digital asset systems in a manner that is safe, inclusive, and consistent with our democratic values. As this ecosystem evolves, so too will our approach," the White House stated.

This survey was conducted by Benzinga in March 2022 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.

Photo: Courtesy of QuoteInspector.com on Flickr