Anonymous wrote:

Anonymous wrote:From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

You are confusing valuation with value.

I don't think so. A currency that cannot be devalued has enormous value, as its success demonstrates.

Anonymous wrote:From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

For the top 5%, a net worth of $1.17 million to $2.7 million secures your spot

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Radio ads??? Like talk radio with Rush?

Anonymous wrote:From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

You are confusing valuation with value.

He recommends 10 to 40%, not 40%. He published a white paper last month explaining why. Perhaps read it before showing ignorance by repeating tired cliches about tulips and money laundering. Bitcoin is a serious asset. Ray Dalio also recommends holding a significant percentage of net worth as a hedge against inflation. And Larry Fink. These are some of the most successful investors in history. It is not a scam. Yes, a lot of - even most - cryptocurrencies are scams, much like penny stocks. But Bitcoin is a completely different beast - more like Exxon or JPM or Apple in terms of value, but decentralized and with capped issuance. Learn the difference.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Then why are you blasting his thoughts on a finance forum as if it's something newsworthy. It's a no name guy, and you're promoting his bad advice.

Not OP.. Are you suggesting that we shouldn't be asking questions that, in your eyes, have no merit? FO dude!

I'm not a customer of his, but have come across his yappity-yap radio show several times on the radio. He used to be one of the largest financial advisers in the DC area, managing 100+ billions. If you don't know who he is, you must not be up to speed on the local financial advisor landscape or a new transplant to this area.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Then why are you blasting his thoughts on a finance forum as if it's something newsworthy. It's a no name guy, and you're promoting his bad advice.

Anonymous wrote:Flim-flam artist who is overinvested in crypto advises you to do so as well, so he can get out at a profit.

classic pump and dump. I would not listen to anyone who says go 40% crypto

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Good for you. He can maybe give your parents a discount based on the PR you’re doing for him on DCUM. I’ve never heard of him and I’ve worked in finance for decades.

From pretty much any timeframe since Bitcoin was invented it has outperformed every other asset class. We have a decent sized portfolio - top 5% net worth - and have 25% in Bitcoin. Wish it had been more. To all the people with the dismissive comments - do you realize Bitcoin is larger than all but a couple companies at this point? It is a $2.3 trillion asset that is heavily invested in by asset managers such as BlackRock. This is a serious asset. We continue to dollar-cost average, as there is significant wind in the sails.

wow...that's a lot. I would do 10 percent tops and I am a crypto proponent.

Anonymous wrote:

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

OP - where exactly did I say I would follow this advice? He’s a well known advisor in the DC area and has written a lot of books. My parents hired his firm based on his radio ads.

Anonymous wrote:Never heard of him.

+1 But go ahead and spend your life’s’ savings following his advice OP

A few mystery Bitcoin whales who bought way back in 2014 are getting out. I think the growth phase is done. The fund Fees suck. Dealing with the taxes suck if bought on exchanges. Anyone pushing crypto seems like a scammer at the moment.

Anonymous wrote:

Anonymous wrote:OP. I posted because my parents use him. He’s a long standing advisor in the DC area. I also thought this was crazy advice!

If they're listening to him, get power of attorney and FAST. Not a reputable or credible guy.

I think he sold his company years ago. He used to do a radio show and I remember him talking about.

The other crazy thing he used to say is, college will soon be free to all. ( I have a 20K tuition bill due next week.)