This former financial advisor pivoted to teach advisors about crypto: 'A lot of folks are convinced it's a fad or it's a fraud'

Even though bitcoin has experienced these massive declines many times, it has generated a 40 million percent total return since inception. Even since 2018, even though bitcoin is now down 70% since November, since 2018, it's up 7x — not 7% — 7x. This is what innovation is all about, and you need to maintain a long-term perspective and be willing to tolerate this kind of incredible volatility along the way.

The same thing is true about crypto. You can easily look at the past nine months and say the 70% decline in bitcoin proves that it's too risky to invest in. But if you look at the past four years, with a 7x return, you would have a very different perspective.

Dave Pope works in the Digifox booth setup at the Bitcoin 2021 Convention, a cryptocurrency conference held in Miami on June 4, 2021.With that said, if instead of doing 1%, you do zero, you run the risk of being 100% wrong. Bitcoin's price history has proven that a very low asset allocation, 1% or 2% or 3%, is enough to materially improve the overall return of the portfolio. While if bitcoin goes broke and becomes worthless, a 1% loss isn't going to cause you significant financial harm.

nailed it. Fad and a Fraud

It’s both!

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

A’s demote Opening Day CF Pache in flurry of roster movesVeteran Jed Lowrie placed on the 10-day injured list among the A’s seven transactions.
Source: mercnews - 🏆 88. / 68 Read more »

Athletics’ Adrian Martinez will get starting assignment in SeattleA’s right-hander Adrian Martinez gets his second shot as a starter Thursday night in Seattle.
Source: OakTribNews - 🏆 597. / 51 Read more »

Oakland A's one step closer to new stadium at Howard Terminal after crucial voteBREAKING The Oakland Athletics are one step closer to a new stadium at Howard Terminal. Athletics BAY AREA Athletics What’s the point. It’s still in…Oakland 😖 Athletics Let's go Oakland! 👏🏼👏🏼👏🏼👏🏼👏🏼 stayinoakland
Source: abc7newsbayarea - 🏆 529. / 51 Read more »

Oakland A’s ballpark plan faces crucial test at Bay Area commission hearingA vote at Thursday’s hearing could determine the fate of the A’s dreams of a new stadium.
Source: OakTribNews - 🏆 597. / 51 Read more »

JP Sears keeps scoreless streak going as Yankees edge A’sThe Yankees called up JP Sears to start Tuesday’s game as a luxury,
Source: nypost - 🏆 91. / 67 Read more »

Kurtenbach: The A’s new Oakland ballpark has never looked so possible, but an obscure committee could send the team to Las VegasThe San Francisco Bay Conservation and Development Commission will determine if the A’s stay or go with a Thursday vote.
Source: OakTribNews - 🏆 597. / 51 Read more »