Many financial experts support a client’s desire to buy cryptocurrencies, but do not recommend it unless the client shows interest. When they wanted to invest in cryptocurrencies and their investment choices didn’t work out and suddenly they couldn’t send their kids to college.” York City. “Then it wasn’t worth the risk.”

Due to the speculative nature of cryptocurrencies, some planners recommend it as a “secondary investment” for their clients. Scott Hammel, his CFP in Dallas, said: “Let’s keep that away from our true long-term vision. Don’t let it become too much of a part of your portfolio. ”

Bitcoin is like a single stock and an advisor does not recommend investing the majority of his portfolio in one company. The planners suggest that if you are passionate about bitcoin, don’t invest more than 1% to 10% in bitcoin at most. “If it was a stock, I would never allocate the majority of my portfolio to it,” says Hammel.