“As a fee-only
financial planner, I have a fiduciary responsibility to my clients to
only recommend investments that are suitable to their specific
investment plan and risk profile. While my clients’ risk tolerances
run the gamut from conservative to aggressive, Bitcoin, with its
short history, volatile price movements, and lack of intrinsic value
is hard to ever recommend as an investment. While one could make the
case for an investment in currencies (due to their diversification
benefits), a purchase of Bitcoin would be pure speculation, akin to
penny stocks.”
Phillip Christenson - CFA, Phillip James Financial
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