Shark Tank star Barbara Corcoran, the entrepreneur who turned a $1,000 loan into a billion-dollar real estate empire, says she will get rich by investing in real estate, not cryptocurrencies. In an interview with TMZ this week while out in Union Square in New York City, the American investor explained that she takes every extra dime she has and puts it into real estate, emphasizing that she will get rich nice and slow this way.
Real Estate vs. Cryptocurrency: A Veteran's Perspective
Corcoran, also the author of bestseller Shark Tales: How I Turned $1,000 into a Billion Dollar Business, was asked whether investors should be getting into cryptocurrencies right now. She replied: I have so many smart business guys I know that have hopped on it and want me on the train with them. I don't. I take every dime I have extra put into real estate. It's a slow way to get rich. I know I'm going to get rich nice and slow by investing in real estate.
Contrasting Views Among Shark Tank Stars
Interestingly, her fellow Shark Tank panelists hold very different views. Kevin O'Leary has allocated 3% of his portfolio to bitcoin and ether and is actively seeking investments in companies that produce clean
bitcoins, vowing not to buy blood coins from China
. Mark Cuban has declared bitcoin better than gold; his NBA team, the Dallas Mavericks, accepts dogecoin for tickets and merchandise. Cuban maintains a portfolio of bitcoin, ethereum, and other cryptocurrencies, and has invested in crypto startups.
Why Real Estate Remains Her Bet
Corcoran's philosophy echoes the timeless wisdom of slow-and-steady investing. While cryptocurrencies offer tantalizing volatility and potential for rapid gains, real estate provides tangible assets, rental income, and long-term appreciation. She argues that real estate is a safer bet for those who prefer a less dramatic ride to wealth. However, she acknowledges that the crypto space is undeniably all the rage
and that many savvy investors have embraced it.
Broader Implications for Investors
The divide among these prominent investors highlights the ongoing tension between traditional and digital assets. For risk-averse individuals, Corcoran's approach offers stability and predictability. For those willing to embrace higher risk, crypto presents opportunities that real estate cannot match. Ultimately, the choice depends on personal risk tolerance, time horizon, and investment goals. As Corcoran exemplifies, sticking to what you know and trust can be a powerful strategy, even if it isn't the fastest path to riches.
What do you think? Is real estate a better investment than cryptocurrency? Share your thoughts in the comments below.