Financial Advisors Not To Keen On Cryptocurrency Investments

If you are a new investor, financial advisor in Australia may be able to help on the type of investments that fits your goals. The financial advisor has the knowledge, research tools, experience and skills to determine whether your investment portfolio will meet your short term and long term goals. When you want to make an informed decision, the financial advisor is your best option.

Some financial experts are not convinced that cryptocurrency is a right investment. Since they are unsure whether cryptocurrency is the next big thing or will it run its course, many financial advisors have urged their clients to avoid investing in bitcoin. However, many investors are asking whether blockchain the technology behind bitcoin will become the next dotcom bubble?

Financial experts have varying views about cryptocurrency but billionaire investor Warren Buffet told CNBC that the current craze on bitcoin and other cryptocurrencies may not end well. Buffet further said that he wouldn’t take a short position on bitcoin futures. Besides, he does not own any and he never intends to have a position in them.

On the other hand, Ron Carson, founder and CEO of Carson Wealth Management Group said that an investor who is trying to pick cryptocurrency today is joining a fool’s game. He advises against gambling with cryptocurrency right now. However, Carson sees many opportunities with blockchain because it enables peer-to-peer exchange of value and services. In fact, blockchain can transform the economy.

Cathy Curtis, founder and owner of Curtis Financial Planning and Carolyn McClanahan of Life Planning Partners respond to questions from clients regarding bitcoin investment opportunities. Curtis says that it is somewhat a generational thing. If you want to try, go for it but do not put a lot of money into it. She considers blockchain as less hackable and can be applied to many industries.

There is no question that you need financial advisor in Australia if you need help in managing your investments. The financial advisor has the experience and professional insight that you do not have. However, make sure that the advisor is not making you take a backward step before you even start to move forward.