The past year has been transformational for Bitcoin and the crypto asset market. Markets are up 80%+, large institutions are starting to invest, and major companies like PayPal and Microstrategy are embracing the space in significant ways. Just recently, JP Morgan analysts said bitcoin could easily double in price if millennials continue to embrace it as digital gold.
The story is …that the Crypto Asset world is similar to the Wild West. There is a lot going on and it’s not quite ready for civilization. We think of it as an asset class like others i.e Oil & Gas, Metals and Real Estate and feel it is required for consideration – if not today – soon. The SEC still has it on the “non-asset” list so that makes ETF’s and other investment vehicles a no go until that changes. We are working with several organizations in this area and developing a process to invest safely and successfully in this space when it matures a step or two more. There are ways to get started investing in Bitcoin and bitcoin type assets and Crypto Indexes as well as “bitcoin adjacent” space in a diversified manner.
Our first conversation, with those interested, is about defining a due diligence structure to your crypto-asset approach…
- Who is the custodian?
- Who does the reporting?
- Trading platform?
- Estate Planning?
- Why do you own this or these?
- What’s the end game for the crypto assets?
- How do you convert them to financial capital?
- What are the best practices for crypto asset security?
This new frontier of investment opportunity can be complex, however we are committed to being a 360° crypto asset resource and to plan, guide and model the outcome for your family.