Ric’s Blog2024-03-28T13:13:54-04:00

Great content you can use in talking with clients – from financial luminary Ric Edelman as well as guest columnists.

Production Capital vs Financial Capital

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 Hates Crypto? Think Again!

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.

Surprise! Your Clients Lost More Money in Bonds Last Year Than They Did in Bitcoin

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.

Ric Edelman’s Statement on FTX

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.

Security Tokens: Not What You Might Think

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.

Understanding Digital Wallets

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.

Take Your Blinders Off

Last week, I posted a question on my LinkedIn page: “Why does it take 3 days at a cost of 3% to send money from New York to London via your bank, when you can do it in 10 minutes for $2 with #bitcoin?

Why You Need To Know About NFTs

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.

They’re Bitcoin ETPs, Not ETFs, Unless You’re a Finance Geek

Think you know the latest on bitcoin ETFs? Guess again! Dive into this short article to see why everyone’s calling them Bitcoin ETFs, when they’re really ETPs in disguise. An essential read for every savvy financial advisor.

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