As financial planners we are continually asked for our opinion on Bitcoin and Crypto Currencies. It is a hugely divisive and for some, emotional topic with very few people sitting on the fence.
Around four years ago, we thought that Bitcoin would be a ‘’boom bust’’ scenario, but this has not been the case. We had a sense that Blockchain was exciting, however, when we heard that there were 4000 different forms of Crypto, Bitcoin only being one of them, we knew that we had to research and get a better understanding of what was happening out there.
We consulted with Hugo Van Veen who has been active in the area for the past five years. He agreed to sit down with us and talk through as simply as possible some of the key concepts, like Blockchain, Crypto, Cyrpto Currencies, Mining, Tokens, NFT’s and DIFI. When we asked him privately to explain it, he said, “it’s like asking me in 1995 to explain the internet, or a few years later a mobile phone. Everyone underestimated the effect they would have on the world. This technology is game-changing, industries will change or disappear as a result.”
We recently hosted a webinar with Hugo on Crypto to educate our clients about the technology that is emerging and the wave of young intellectual talent that will drive this new technology into the future. We did not host this webinar to encourage our clients to invest in crypto currencies. It is clear from what Hugo tells us is that it is currently wildly speculative, so much so that you must be prepared to lose all of your money. Regulation in this area is on its way and so too, companies and opportunities that will offer better investment options.
Avenues to explore and invest in this area will emerge shortly, but as you will hear simply buying one type of coin is a brave move, we think other investments will emerge to reduce the risk so as to remain diversified.
Enjoy the talk – Click here to view
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