How Much Bitcoin In Your Financial Plan?
Let’s skip the suspense: In nice, round numbers – the roundest number, in fact – 0% of your financial plan should be in Bitcoin.
I received an email this afternoon from a representative of something called Osprey Funds. He invited me to an “interactive event” that would explain how Bitcoin compares to other asset classes. I could also learn about “accessing” Bitcoin for our clients.
There’s so much wrong with this, but I’ll be brief.
Start with the name of the group putting on this educational event – Osprey Funds. A quick Google search describes the osprey as a “fish-eating bird of prey.” Hmm. If the one doing the selling is the osprey, doesn’t that make their customers the fish?
But let’s say I can get past the image of being attacked from the air and devoured. Shouldn’t I be interested in adding a new “asset class” to our clients’ portfolios? Diversification is a worthwhile thing in financial planning, isn’t it?