“Rich Dad, Poor Dad” Author Now Prefers Bitcoin Over Real Estate, Here’s Why

Robert Kiyosaki, known for making a fortune investing in real estate back in the 90s and during the 2008 mortgage crisis, the author of the popular book on finance “Rich Dad, Poor Dad” has taken to Twitter to announce that he is taking the plunge . away from investing in real estate and choose Bitcoin along with precious metals now.

“I’m No Longer Recommending Real Estate, I’m Recommending Bitcoin”

Kiyosaki stated that he now prefers Bitcoin as well as top precious metals – gold and silver – instead of real estate and recommends the same to his followers on Twitter.

The reason for this, according to the tweet, was described in his book published in 2020, the title of which actually mentions the leading cryptocurrency – “Capitalist Manifesto: Money for Nothing – Silver, Gold and Bitcoin”.

Why I NO LONGER recommed PROPERTY. In my 2022 Capitslist Manifesto I stated that Marxist took over the US in the 2020 election. Marxists will raise property taxes, introduce rent controls, as rising interest rates reduce property values. I recommend gold, silver, Bitcoin.

— therealkiyosaki (@theRealKiyosaki) 15 October 2022

In that book, which he reminded the Twitter audience, he described the fact that investing in real estate had become much more difficult since 2020, as the newly elected US government intends to increase taxes on real estate, implement rent control. Moreover, he stated that the interest rate increases that have been frequent this year will reduce the value of properties.

Advertisements

However, none of these problems can be applied to Bitcoin.

“The economy crashes, the stock markets break down”

In an earlier tweet, Kiyosaki shared that Bitcoin is now more important than ever as the US economy crashes, stock markets go in the same direction along with pensions and unemployment peaks.

He added that Bitcoin will not protect one’s income now, but it can protect one’s wealth. Overall, Kiyosaki claims that he has been predicting the current economic crash since the 1990s, adding that the current situation was also driven during the 2008 crisis when the US government started printing money and then also printed more than 6 trillion USD in 2020, when the pandemic started and affected everything and everyone.

Moreover, the author has recently shared another reason for his interest in Bitcoin – US pension funds have started investing in the flagship cryptocurrency. At press time, BTC is changing hands at $19,160, according to CoinMarketCap data.