One of the biggest things I have noticed at conferences lately is that everyone is relating to crypto as if it’s a stock. It’s not, because coins/tokens have software related to them. The actual assets you’re trading belong to a blockchain; the tokens are interactive, providing functions and services. A crypto asset isn’t just a ticker symbol.
China, the country that banned bitcoin in 2021, has now established the National Blockchain Technology Innovation Center. Created by the Chinese Ministry of Science and Technology, the center will develop both software and hardware, focusing on commercial applications to benefit China's economy.
You had a choice last year to follow, or ignore, my advice. As 2022 began, I recommended that you get out of the bond market (moving that money to cash or equivalents) and place 1% of your client portfolios into bitcoin. How’d my advice work out? Well, I was certainly right about the bond market: it fell 13% last year, its biggest loss ever. But bitcoin fell 77% from its November 2021 high! Ugh.
I remain optimistic for the future of crypto, despite the FTX debacle. In fact, saying you are not bullish on crypto because of FTX is like saying you are not bullish on stocks because of Bernie Madoff. FTX has nothing to do with blockchain or digital assets, any more than Madoff had anything to do with the stock market. Madoff was just another con artist who led a massive fraud. And it certainly appears that Sam Bankman-Fried is also a con artist who led a massive fraud. Madoff used the stock market to perpetrate his cons; SBF used crypto.
Read the excerpts of Ric’s conversation with SEC Commissioner Hester Peirce, which aired on Ric’s radio show and podcast The Truth About Your Future. Commissioner Peirce’s comments are her own and not necessarily those of the SEC or other SEC commissioners.
It’s a seminal moment in crypto’s evolution: Fidelity 401(k) plans will soon offer bitcoin as an investment option. Fidelity is the nation's largest provider of 401(k) plans, with a third of the market – 23,000 companies with 34 million workers, and $2.7 trillion in AUM.
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For more than one hundred years, the U.S. has led the world in financial innovation. We’re the world’s leading economic power, the U.S. Dollar is the world’s reserve currency, and our economic and political systems have helped to bring democracy to every corner of the planet.
Crypto conference season is fast approaching! With the pandemic waning (yay!), event organizers (including us) are happily returning to live venues for you to attend. But which events should you choose?
More financial advisors are savvy about digital assets than ever – and more are buying bitcoin and Ethereum for themselves than ever before, too. All this is just in time, as advisors report increased numbers of clients asking about adding crypto to their portfolios.
Has someone suggested that you invest in a security token? Make sure you understand them before you invest. In the crypto world, tokens are a means of exchange, and we can generally think of them as similar to shares and coins, just a different (third) name. There are many kinds of tokens, and we’ll focus here on security tokens.
Part of the appeal of bitcoin and other digital assets is that they are not controlled by a central authority. But that also means there’s no “help button.” So, if you lose your private key, your bitcoin is gone forever, and if someone obtains your private key, they can steal your bitcoin.
2021 was the year non-fungible tokens (NFTs) became a multi-billion-dollar industry, with $23 billion in sales. The year before, volume was just $14 million. At first glance, NFTs look like pure hype. But there’s much more to this technology than pixelated art and bored apes. It’s an entirely new kind of commerce. Here’s what you need to know.