In a Reddit post, author BCJoey discussed how important investing in Bitcoin is in China.
According to him, real estate business in China is popping. Because of that, China’s central bank, the People’s Bank of China (PBoC), will need to start a quantitative easing to make their economy afloat.
Not many Chinese know its impact and how it is going to devalue the Renminbi, the country’s fiat.
BCJoey writes:
“If I lived in China, I would sell all my real estate and the majority of savings and buy Bitcoin.”
Latest numbers from CNBC show that Chinese real estate investors are keen on splashing their investments on foreign properties, as opposed to domestic purchases.
With Chinese real estate value in question, a large influx of investors looking for other investments opportunities to park their money in cryptocurrencies show as a viable option.
Too risky or a viable option?
BCJoey’s post immediately drew attention from other Reddit users attracting 62 comments as he writes:
“Real estate prices will crash down. Bank interest rates will go to near nothing. Bitcoin is the safe haven that will continue to appreciate.”
One commenter agreed with his proposition saying it was an idea applicable not only to China but to other countries as well.
Iluvceviche says:
“This might be a good idea regardless of which country you live in.”
While there were those who agreed with the post, there were also several people who were not sold on the idea.
One commenter who disapproved of the post said it is not a good idea to gamble a whole life dedicated to selling real estate in lieu of Bitcoin. Another one, meanwhile, touted the author as a novice in terms of investment decisions.
iGhonu says:
“You sound like quite a novice. There is no such thing as ‘get-rich quick’ and nothing will appreciate indefinitely. You should never invest more than you can afford to lose.”