Traditional Financial Advisor

Traditional Financial Advisor

By theinspired | Inspiration | 22 Mar 2021


I've been communicating with a Financial Advisor who is not too happy about Bitcoin for years. Back in 2018 we had an exchange and so I thought I would reach back out to him to see what he thought since 2018 - the following is just painful to read lol Some people just won't open their minds. 

"Hi Paul, Nice to hear from you.  Yep, Jim Cramer raves about a lot of things that ultimately don't do well. Booya!  Also thought it was very telling that recently CNBC morning anchor, Becky Quick, said this entire current nutty scenario -- referencing GameStop at $400, NFT digital art auctions for $50M, and Bitcoin at $40,000 -- reminds her a lot of when they were lighting cigars with $100 bills in the roaring 1920's.  I guess if we get a pandemic every 100 years then the roaring 20's (and Great Depression 2 ?) can happen periodically as well.  Bitcoin is still just nonsense and game playing.  Even my 16-year old son is smart enough to say if someone can manipulate Bitcoin to "create" more money any time they want then eventually they'll do just that to make themselves rich and everyone else gets screwed.  Bitcoin mining? C'mon does anybody take that seriously? Lol.  At least when the Federal government creates money out of thin air, the U.S. backs it.  Who or what is actually backing the value of Bitcoin, the Nakamotos?  It is even a worse investment now then when it was selling at $3,600 in 2019.  The only difference between then and now is there are more yahoos out there buying it in 2021.  Dutch Tulip mania anyone?  And Economics 101 ... just because something goes up in price, does not mean it has a higher intrinsic value.  But, whatever, plenty of people go down the wrong path for a long time before they realize where they aren't.  Hope you get back to right path with real legitimate investments before Bitcoin goes kablooey."

Needless to say, if this was my Financial Advisor, he's be my former Financial Advisor.... nuf said.

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theinspired
theinspired

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post.


Inspiration
Inspiration

I've been exposed to the world of crypto since 2011. Now I use my knowledge to curate the most relevant news articles, podcast, videos, blogs and social media information to help you be in the know in Crypto!

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