The term Bitcoin has become synonymous with investment in the 21st century. As digital wallets keep increasing, cryptocurrencies are the new way forward for most. But not for Arnold Schwarzenegger. He is a real estate mogul who invests smartly and makes millions. Taking a note from Warren Buffett’s playbook, Arnold decided not to invest in it because he did not understand it.

Bitcoin is the world’s largest cryptocurrency by market capitalization. Founded in 2009 by a group of developers, it inspired several other cryptocurrencies to come to the forefront. However, Arnold is happy with his current investments. 

Arnold Schwarzenegger keeps to real estate

So what is Bitcoin? It is a cryptocurrency, a virtual currency used as a payment outside the control of any person, group, or entity. Likewise, it acts as money and removes third-party involvement in various financial transactions. Significantly, the blockchain miners who verify the transactions get rewarded for their work, and people can purchase it in several exchanges. Not an easy concept to understand. Several famous billionaires, including Tesla’s Elon Musk, invest in Bitcoins. 

Irrespective of most people adopting this approach, Arnold acknowledges the methods of one of the wealthiest men in the world, Warren Buffett. He had earlier opened up about not investing in Amazon and Google but delivered a punchline that echoes through the ears of Arnold Schwarzenegger and others. “Never invest in a business you cannot understand,” mentioned Buffett. 

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Taking an example from Buffett, Arnold, a multi-millionaire, explained the same process. “No, I don’t invest in them. I am like Warren Buffett. I don’t invest in things I don’t understand.” It makes sense, as many people find it hard to understand cryptocurrency. Therefore, Schwarzenegger made millions through real estate investments and was successful. 

Real estate mogul

Despite not investing in cryptocurrencies, Arnold has a net worth of $450 million. He is one of the wealthiest celebrities in the world, and his exploits in the real estate market fetched him millions. Even before he stepped onto the shores of Hollywood, he became a millionaire by purchasing small apartments and selling them for double the price. This investment helped him earn millions and placed himself as the real deal in the market. 

Hence, he forged a remarkable acting career and made smart deals with movie directors to earn more. Arnold Schwarzenegger had a telling say in making ‘Twins’ a blockbuster and earned millions. His simple mantra of investing in areas he understands is a simple life lesson that most can follow. Proving himself to be a wise investor, he is a role model in most departments of life.

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