While Barbara Corcoran, the Shark Tank star, was out in Union Square in New York City, she shared her views on cryptocurrencies. She claimed that real estate is the best way to get rich, not cryptocurrency.
She is into “tried-and-true” methods of making money and advises everyone to listen before it is too late.
Being that she is an old-school investor, she was asked if “Cryptocurrency is all the rage right now.” The Shark Tank star promptly replied yes, but she made it clear that she doesn’t care about Bitcoin prices, Dogecoin surging its value again, or any of other cryptocurrencies – she is all into property investments.
Corcoran was then asked whether she thinks that investors should be getting into crypto assets right now. She responded that investing in real estate is the best way to get riches. She stated that she is investing every spare dollar she has this year into real estate because it is still a very popular buyer’s market and she plans to get even richer using the old-fashioned way.
However, the Shark Tank star advises caution – she suggests hitting the irons while they are hot, as the real estate market can be completely different by the end of the year. She further illustrated that real estate may be a buyer’s market in New York City, but not in other cities like Los Angeles.
When it comes to the cryptocurrency market, Barbara mentioned that the trick relies on knowing when to get out – many people are losing money in cryptocurrency the same way many are making money investing in crypto.
Corcoran was in New York promoting her new advice podcast “888-Barbara.” She said that while there are certain millionaires who don’t need her guidance, she offers free advice from her mother.
Best Investment Options
Choosing between the best investments can be quite confusing. The uncertainty brought by the COVID-19 pandemic makes this choice even much harder. But making the right move could guarantee a great return on investments for years to come.
While real estate has been one of the best ways of making cash globally for a long time, cryptocurrency is the most hyped asset class in the market right now. With the exponential rise of Bitcoin prices over the last decade, the cryptocurrency has captured the attention of investors around the globe.
Based on the question regarding which is the better investment between Bitcoin and real estate, it is important to put into consideration that both investments have their pros and cons. Therefore, retail and institutional investors should take advantage of that to diversify their investments.
Many investors are unable to invest in real estate because it is a highly expensive venture. However, Bitcoin investment offers an alternative solution. Investing in cryptocurrency is getting popular because of the low barrier to entry – an investor can start buying Bitcoin with as little as $100. Besides that, the rise of Bitcoin prices means that investors are making more money. Furthermore, since cryptocurrency is becoming more stable and has proven to be a reliable and secure asset, more retail and institutional investors are rushing to get a piece of the pie.
Image source: Shutterstock