Renowned real-estate investor gives reasons for choosing Bitcoin over it now
Robert Kiyosaki, the author of the popular “Rich Dad, Poor Dad” book on finance to make a fortune on investing in real estate in the ’90s and during the 2008 mortgage crisis, has taken to Twitter to announce that he has stepped down. Have moved away from investing in real-estate and now chooses bitcoin with precious metals.
“I no longer recommend real-estate, I recommend Bitcoin”
Kiyosaki stated that now he prefers Bitcoin, as well as top precious metals – gold and silver – rather than real-estate and recommends the same to his followers on Twitter.
The reason for this, according to the tweet, was described in his book released in 2020, the title of which actually refers to the major cryptocurrencies – “Capitalist Manifesto: Money for Nothing – Silver, Gold and Bitcoin”.
In that book, as he reminded the Twitter audience, he described the fact that investment in real-estate had become a lot more difficult since 2020, as the newly elected US government intends to increase taxes on property, implement rent control. Besides, he stated that the interest rates hikes that have been frequently occurring this year, will decrease the value of real-estate property.
However, none of these problems can be applied to bitcoin.
“Economy crashes, stock markets go bust”
In an earlier tweet, Kiyosaki shared that Bitcoin is now becoming more important than ever as US economy is crashing, stock markets are going in the same direction together with pensions and unemployment spike.
He added that bitcoin will no longer protect one’s income, but it may protect one’s wealth. Overall, Kiyosaki claims that he has been predicting the crash of the current economy since the 1990s, adding that the current situation was also promoted during the 2008 crisis when the US government began printing money and Then it also printed more than $6 trillion USD in 2020, when the pandemic began, killing everything and everyone.
Besides, the writer has recently shared another reason for his interest in Bitcoin – US pension funds have begun investing in the flagship cryptocurrency. At press-time, BTC is changing hands at $19,160, as per CoinMarketCap data.
