Wealth Managers Being Bombarded With Investor Requests to Buy Bitcoin

[minerich]

Wealth managers around the world are being bombarded by Bitcoin requests, according to a new report by Bloomberg. The spectacular rise in value of the cryptocurrency has caused a run on the investment, with a huge number of investors seeking positions in the new asset class.

Mainstream adoption for Bitcoin, which until this year was still widely considered a black market currency, has grown at remarkable rates. The explosive price increases have led to new vehicles for investment such as Bitcoin futures on the Chicago Mercantile Exchange (CME) and others.
General consensus

While most wealth managers are uncomfortable with the risk associated with a new technologically backed asset class, the bulk are willing to allow clients to enter the Bitcoin market. However, the vast majority of wealth managers suggest removing initial investment as quickly as possible and only leaving gains in the market.

According to Kevin Grimes, president of Grimes and Co., it’s best to sell enough of your position to get your original investment out, but he’s still very strongly advising holding some position in the cryptocurrency. He says:

    "Laughing off Bitcoin could wind up being a big mistake. Bitcoin could go to zero and be a scam, and it could go up to numbers no one has conceived of yet.”

Regardless, the reality that Bitcoin is moving into the mainstream in itself validates the potential for substantial price increases, according to others.

https://cointelegraph.com/news/wealth-managers-being-bombarded-with-investor-requests-to-buy-bitcoin

[junoreactor]

It is human after all, when you see Bitcoin rising so much in 1 year, big investors will consider investing. If you buy stocks, for the big majority of them you will be lucky to earn 30% a year.
Short term the risk is very small by buying Bitcoin right now, not saying it does not exist of course (see Chinese news about ICO in September and Segwit2X canceled two weeks ago). But eventually, if you don't panic it will be quite easy to make a decent profit.

[Theta Labs]

There is still very little mainstream adoption so far.

[junoreactor]

There is still very little mainstream adoption so far.

Indeed, see these figures > http://www.visualcapitalist.com/worlds-money-markets-one-visualization-2017/
That's why the potential is big, and still very big today in my opinion.

[blocklife]

    FOMO

Its mostly emotions

from seeing bitcoin rise to over 8,000 in 1 year

[no0dlepunk]

According to Kevin Grimes, president of Grimes and Co., it’s best to sell enough of your position to get your original investment out, but he’s still very strongly advising holding some position in the cryptocurrency. He says: - Well, this is actually how it works, don't you think? I mean, early adapters have taken out their initial investments for sure, and what remains in their wallets are their gains. These wealth managers / financial advisors aren't really serving their purpose at all. The best advise that they can give is to become fearless in losing money. They should have advised their clients to buy bitcoins with the money they don't need, forget about it, and enjoy once they retire.

I have a mind-flipping question, though... why do these people need wealth managers to buy bitcoins?

[pooya87]

....and they say bitcoin is a bubble!....

now if all this money that is starting to get excited and that excitement is blinding the owners, comes in bitcoin there will be a bigger rise which you can start calling a bubble.
that is the reason for bubbles so far anyways, the enthusiastic money coming in, instead of the wise money that has been coming in so far. but that needs to be a lot of money and a huge rise from the current price so that we even start calling bitcoin a bubble by then.

[949miner]

I have been thinking about this since i have introduced my self into bitcoin.

It is incredible the way that it is rising, and we can not blame those who are always trying to spread fud into bitcoin, because we all know that maybe they are not convinced about how this technology really works.

Anyway, it is upto they to invest in bitcoin or not.. A lot of famous people, and VERY recognized investors like Warren Buffet have been talking shit about bitcoin, but after all, it doesnt mean anything whatever they decide to say or not, because bitcoin is here to stay, and this will remain like this for more than years.


And those comments regarding to those who are always saying that bitcoin is a bubble, let me tell you that they have been saying the same shit since bitcoin was below $150 each one.

[CryptoBry]

It is human after all, when you see Bitcoin rising so much in 1 year, big investors will consider investing. If you buy stocks, for the big majority of them you will be lucky to earn 30% a year. Short term the risk is very small by buying Bitcoin right now, not saying it does not exist of course (see Chinese news about ICO in September and Segwit2X canceled two weeks ago). But eventually, if you don't panic it will be quite easy to make a decent profit.

I am predicting that this is only the real beginning for Bitcoin. Years ago, those who pioneered in Bitcoin had been dreaming for a time when people would be the one asking for Bitcoin and right now in 2017 it is happening big time. After the formal establishment of the CME's Futures market, I am expecting that there would be similar offerings from other entities in other countries too and of course they would be offering their product online. This is just the tip of the bigger iceberg for Bitcoin as there can be more countries that will embrace Bitcoin next year, hopefully.

[jseverson]

  FOMO

Its mostly emotions

from seeing bitcoin rise to over 8,000 in 1 year

I don't think it's as much FOMO as it is being an early investor. The earliest investors ship has long sailed, obviously, but Bitcoin isn't even a decade old. It was valued at around $1000 just a year ago. There's still much growth to be had, and investors realize this. Bitcoin is still in its infancy both as a technology and as an investment, so there's no reason to believe it couldn't evolve and reach even greater heights.

Also, I think it's fair that wealth managers are asking investors to play it safe with Bitcoin. Like I said, it's still in its infancy, and anything can happen. I'm surprised they even allow it at all. Despite the warnings, this adds to the legitimacy of Bitcoin as an investment.

[MiningSensei]

"Laughing off Bitcoin could wind up being a big mistake. Bitcoin could go to zero and be a scam, and it could go up to numbers no one has conceived of yet.”

And this is probably what they have been doing for a long time, all those financial "gurus" are always saying the same trash, they are always trying to make the price go down for a while, so they can re buy those coins at least at five percent less, maybe less, but it is a huge difference because they are not investing just $10k.

When is going to be the time in when they are going to stop all this thing? Bitcoin needs to be really recognized by all those big institutions before it can be approved, before it can be really be used by people by a new payment gateway in their daily lives.

[Murloc]

Imho it is good and bad at the same time.
At one side bitcoin is pretty close to its current top and I expect a correction (a strong one) in the near future. If different investment companies become the major btc holders then they will be one of the first ones who sell their BTC before the correction and that will dump bitcoin even harder.
But if you take a look from another side then the more serious btc holders we have the less influence each one of them have on the general situation (and less opportunities for dumps).

[Barbarian]

Wealth managers around the world are being bombarded by Bitcoin requests, according to a new report by Bloomberg. The spectacular rise in value of the cryptocurrency has caused a run on the investment, with a huge number of investors seeking positions in the new asset class.

Mainstream adoption for Bitcoin, which until this year was still widely considered a black market currency, has grown at remarkable rates. The explosive price increases have led to new vehicles for investment such as Bitcoin futures on the Chicago Mercantile Exchange (CME) and others.
General consensus

While most wealth managers are uncomfortable with the risk associated with a new technologically backed asset class, the bulk are willing to allow clients to enter the Bitcoin market. However, the vast majority of wealth managers suggest removing initial investment as quickly as possible and only leaving gains in the market.

According to Kevin Grimes, president of Grimes and Co., it’s best to sell enough of your position to get your original investment out, but he’s still very strongly advising holding some position in the cryptocurrency. He says:

    "Laughing off Bitcoin could wind up being a big mistake. Bitcoin could go to zero and be a scam, and it could go up to numbers no one has conceived of yet.”

Regardless, the reality that Bitcoin is moving into the mainstream in itself validates the potential for substantial price increases, according to others.

https://cointelegraph.com/news/wealth-managers-being-bombarded-with-investor-requests-to-buy-bitcoin

I think it is normal that people are beginning to notice bitcoin but at the same time is worrying, we all like the fact the price goes up in value but if too many people get in too fast then a bubble is going to form and if that happens the price is going to skyrocket that is true but it is going to crash at some point too, similar to what happened with tulips so many years ago.