Let’s Talk About Cryptocurrency: Part Two

Earlier this week, we provided a simple explainer on cryptocurrency and Bitcoin, but for an asset as complicated as this one, that is only the tip of the iceberg. Now, in the second part of our cryptocurrency video series, Omnia Family Wealth Co-Founder and Chief Operating Officer Michael Wagner dives further into Bitcoin to dissect its ties to the fear of missing out (“FOMO”) and volatility, and why these two factors are something all investors need to be cautious of.

Specifically, Wagner explains:

• The history of FOMO investing
• The ways FOMO plays on the emotions of investors
• Dissecting hype from fact when considering investments
• Why investors should always hedge against volatile assets such as Bitcoin

Throughout the video, Wagner emphasizes the importance of potential Bitcoin investors being careful, doing their homework and being mindful of where we are in the cycle. There is no guarantee that Bitcoin will become the currency of the future, so if you choose to invest in this asset, always remember to hedge against that bet. As Warren Buffett says, “You want to be fearful when others are greedy and greedy when others are fearful.”

Stay tuned for our next video and, as always, please do not hesitate to contact us with any questions. We are available via email or phone at (305) 602-9080.