Bitcoin has smashed records. Should you invest?
CNN
In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. The cryptocurrency topped $70,000 in March, according to coinmarketcap.com.
In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. The cryptocurrency topped $70,000 in March, according to coinmarketcap.com. Then, with crypto advocates buoyed by Donald Trump’s win in the US presidential election this month, the price of bitcoin hit a record $80,000 less than two weeks ago. And as of Monday this week, it was trading north of $90,000. Bitcoin evangelists are confident it will keep climbing as they anticipate a friendlier regulatory environment under the new administration. Many think bitcoin is a great tool to build generational wealth. And some are even advocating for the US to create a strategic bitcoin reserve, which MicroStrategy executive chairman Michael Saylor told CNBC is a way for the US to “buy the future.” In the first decade after bitcoin’s creation in 2009, the financial planning world was reluctant to consider crypto assets as a serious option for most individual investors. But in the past few years, education about crypto assets has been made more available to professionals. For example, the Financial Planning Association now offers three continuing education courses on crypto, according to FPA president-elect Paul Brahim. So it’s easy to wonder if maybe it’s time to consider investing in bitcoin. We reached out to some financial advisers to see what guidance they offer clients interested in doing so for the first time.
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In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. The cryptocurrency topped $70,000 in March, according to coinmarketcap.com.
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