“Rich Dad, Poor Dad” Author says – “I no longer recommend real-estate, I recommend Bitcoin”

Rich Dad Poor Dad author Robert Kiyosaki has openly criticized real estate as a substitute for other investment options, but he has since changed his position.

Traditional investors have become more interested in bitcoin in recent months as governments and central banks take drastic action to counteract the economic harm caused by the coronavirus pandemic.

Robert Kiyosaki on twitter last week

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

— Robert Kiyosaki (@theRealKiyosaki) October 15, 2022

The tweet claims that the cause of this was discussed in his 2020 book, “Capitalist Manifesto: Money for Nothing – Silver, Gold and Bitcoin,” whose title actually alludes to the three most popular cryptocurrencies.

He reminded the Twitter audience that in that book, he discussed how real estate investment had become significantly more challenging since 2020 because the newly elected US government planned to impose rent control and raise property taxes. In addition, he claimed that the frequent increases in interest rates this year will lower the value of real estate.

The COVID-19 pandemic period, which began in the first quarter of 2020, resulted in two very different approaches from the government in terms of the nation’s interest rates. The government initially lowered the interest rate to zero in an effort to cushion the economy from the negative effects of lockdowns and business layoffs.

When the government later realized that the economy had partially recovered from the effects of the COVID-19 pandemic, it decided to change course. According to general statistics, the real estate market has been experiencing a general decline in listings due to unfavorable prices for buyers since the government began raising interest rates this year.

Robert Kiyosaki revealed that he is endorsing Bitcoin as a trustworthy investment asset, despite the fact that the current economic climate is having an impact on all asset classes. The financial guru also made the unusual observation that he is grouping Gold and Silver with the asset classes that can make for good hedges against current inflation.