4 Charts Showing Why Financial Advisers Should Care About Bitcoin
From a hedge against inflation to its uncorrelated relationship with stocks, advisers have plenty of reasons to be interested in bitcoin.
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More than a quarter of financial advisers intend to recommend crypto investments over the next year. According to a survey, financial advisers are recommending investments in Bitcoin and crypto assets to their clients more than ever before.A report by the Financial Planning Association released on June 1 has taken a look at the changing attitudes towards crypto assets. The ‘2021 Trends in Investing Survey’ revealed that more financial advisers than ever are recommending their clients have some crypto in their portfolios.The survey was conducted in March and received 529 online responses....
Grayscale’s Michael Sonnenshein, Amber Group’s Jeffrey Wang and Edouard Hindi of Tyr Capital believe financial advisers could be ushering in a new era of crypto adoption. In the past, there were plenty of reasons for financial advisers to dismiss Bitcoin (BTC) and other cryptocurrencies as a worthy investment, but all of that is starting to change as more institutions become attuned to the digital asset class. A face-melting rally for Bitcoin between September 2020 and April 2021 amplified the need to push beyond the narrative that digital assets are simply too volatile to include in....
A new Bitwise survey highlights a more favorable attitude toward Bitcoin and cryptocurrencies. Cryptocurrencies like Bitcoin (BTC) are increasingly being used by financial advisers as a hedge against inflation, underscoring the dramatic shift in institutional sentiment toward digital assets. The "Bitwise/ETF Trends 2021 Benchmark Survey" reveals that 9.4% of financial advisers were allocating to cryptocurrencies in 2020 — an increase of 49% from the previous year. Of the advisers not currently allocating to crypto, 17% said they will either “definitely” or “probably” gain exposure in 2021.....
U.S.-based financial advisers with Interactive Brokers are now able to recommend cryptocurrency investments to their clients. Brokerage firm Interactive Brokers Group is allowing investment advisers registered with the company to trade four cryptocurrencies.In a Monday announcement, Interactive Brokers said its Registered Investment Advisers would be able to trade and custody Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) for clients using Paxos Trust Company. The firm reported this service was currently available only for its advisers in the United States but it....
Financial adviser, Ric Edelman says his colleagues need to get rid of their bias and examine Bitcoin and crypto assets with “open eyes” and “genuine curiosity.” Ric Edelman, founder of financial advisory outfit Edelman Financial Engines, described Bitcoin (BTC) and crypto assets as a “completely new and different asset class” that has nothing in common with mainstream staples like stocks, bonds, real estate, oil, or commodities, to mention a few.Speaking to Yahoo Finance on Wednesday, the financial adviser called Bitcoin and crypto “the first genuinely new asset class in about 150 years.”....