Is bitcoin digital gold? In this episode of ‘On Purpose, With Tyrone Ross’, we dig into bitcoin narratives as financial advisors see them and explore the concept of bitcoin as a store of value.
“Saying ‘Internet Money’… What else in my portfolio is like Internet Money? Hmmm…." said independent investment advisor and "On Purpose" host Tyrone Ross, "but when you say 'Digital Gold', alright ... Clients can wrap their heads around the digital part, they can wrap their heads around the gold part. They probably own gold in a portfolio already, and then you can get into asymmetric returns and uncorrelated to other assets in the portfolio. … Bitcoin is mined and there’s gold mining…. You can start these basic frameworks for the advisor to understand and also make it accessible to clients.”
A message from Tyrone:
The greatest number of people living in poverty are children, we need to change that. If you can, get involved and give back to NoKidHungry.org. Love and Light. I appreciate you!