“Goodbye Bitcoin and Dollar?” jokes Robert Kiyosaki after the arrival of a new digital currency

Robert Kiyosaki, the legendary defender of bitcoin and gold, mocked both assets by saying “hi” to both assets on his X account, formerly Twitter.

This is because the author of the bestseller ‘Rich Dad, Poor Dad’ announced this Tuesday (26) that Citibank has created its own cryptocurrency.

In other words, when a major US bank created its own cryptocurrencies, Robert jokingly declared that both Bitcoin and the dollar had come to an end.

Robert Kiyosaki jokes about saying goodbye to Bitcoin and the dollar

Bitcoin is a global currency that works decentralized via the internet, without the influence of governments and companies. The dollar, on the other hand, is a fiat currency issued by the US Central Bank, which has complete control over its supply and distribution.

As the international payment currency for decades, the dollar has experienced problems in recent years. Several countries are already looking for alternative ways to send and receive values ​​in their international commercial transactions.

But the creation of a blockchain token, which can be responsible for sending and receiving values, was the new announcement of the Citigroup bank. According to the bank, which was founded in mid-1812, its technology could facilitate international transactions.

When Robert Kiyosaki saw the news, he responded ironically to the bank’s announcement and asked his followers if the dollar and bitcoin had come to an end. It is worth remembering that Robert is a fan of bitcoin and gold as a store of value and non-confiscatable money.

“Bye, bye Bitcoin and US dollar? Citibank today announced that it is offering blockchain technology for banks to convert institutional savings into Citibank tokens that can be used for instant 24/7 cross-border transactions. Goodbye BC and US$?”

What is the Citibank Project?

Several banks around the world and other financial institutions are already testing the creation of their own tokens on the market. For example, in Brazil, Nubank created Nucoin and Mercado Livre created Mercado Coin.

Despite Kiyosaki’s speech, the Citigroup token hit the market on September 18, 2023, presented as a project in its pilot phase.

According to the press release, the service will use blockchain, smart contracts and tokenization for cash management and commercial financing.

Shahmir Khaliq, global head of services at Citigroup, said: “Digital asset technologies have the potential to upgrade the regulated financial system by applying new technologies to existing legal instruments and established regulatory frameworks. The development of Citi Token Services is part of our journey to deliver real-time, always-on, next-generation transaction banking services to our institutional clients. This development follows leading work by the Regulated Accountability Network to create interoperable digital asset solutions on a multi-bank basis.

It is not yet clear whether the new pilot from the major US bank will reach the point of competing with Bitcoin or with the Dollar itself. In any case, the project will use a private blockchain, the name of which has not been disclosed.

Source: Live Coins