Let’s Talk About Cryptocurrency: Part One
In recent weeks, Bitcoin has taken over the headlines in the financial media with many investors flocking to the original, best-known type of cryptocurrency. However, it is important to understand cryptocurrencies and the risks that come with them when considering the potential role they can play in your investment portfolio.
In the first part of our video series on cryptocurrencies and Bitcoin, Omnia Family Wealth Co-Founder and Chief Operating Officer Michael Wagner sat down for a very simple explainer that answers some of the questions we are hearing most frequently from our clients.
Specifically, Wagner explains:
- The definition and key elements of currencies
- The aspects that make cryptocurrencies “crypto”
- How cryptocurrencies have evolved to become an investment option
- Bitcoin’s potential for volatility
During the video, Wagner emphasizes caution and the importance of truly thinking about the role Bitcoin and other cryptocurrencies can play in your portfolio and to size those factors accordingly. Upon doing so, you may begin to view Bitcoin as a digital collectible rather than a currency surrogate.
Stay tuned for the second part of our cryptocurrency video series to learn more about Bitcoin and its volatility. As always, please do not hesitate to contact us with any questions. We are available via email or phone at (305) 602-9080.