The ups and downs of investing in bitcoin
Have the eye-popping gains posted by bitcoin investors in the latter half of 2017 grabbed your attention? Has this made you consider adding cryptocurrencies to your wealth management portfolio? If you said yes, lawyers, investors and accountants say you’re in good company.
However, they also warn you’ll be in for bumpy ride.
Kieron Mitchell, an accountant who opened the state’s first bitcoin ATM in 2015, said investors should calculate their own time horizon and propensity for risk before investing in one the hundreds of cryptocurrencies available. He said he has recommended clients take their total investment portfolio and allocate 2 percent to bitcoin.
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