Would you advise a friend in the same way?

[Ricardo11]

Never force your friend to invest in Bitcoin, you should only explain the benefits of Bitcoin to your friend, the risks and benefits of Bitcoin. Then let your friend decide independently, moreover, to invest in Bitcoin, you must first understand the basics of Bitcoin well. You tell your friend the basics of Bitcoin, like how to hold it, when it goes down and when it goes up, and what levels it might go to in the future. Let the decision be made her independently.

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[bettercrypto]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

I just thought OP, you said your friend told the situation or situation of his life right now, so does he mean he asked for advice on what he should do with the bank's money? This is just my question., It's okay if you don't want to answer either.

When I saw what you did was as a friend you just reminded her and you just show that bitcoin is one of the main good investments in terms of long-term, but then just keep it in the bank it is better move it to bitcoin. Your advice is good and good, but it is better that he can see the potential of bitcoin, but if he trusts you well, he will have no problem because you have good advice to him.

[khalidkhan82118]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

It's understandable that you want to offer valuable advice to your friend about growing their company's wealth. While investing in assets like Bitcoin can potentially yield significant returns, it's essential to consider factors like risk tolerance, financial goals, and the stability of the investment. Bitcoin's value can be volatile, and investing a large portion of the company's funds in it may expose them to significant fluctuations in value. Encouraging diversification and seeking guidance from financial professionals could help your friend make informed decisions about how to manage and grow their company's wealth effectively.

[kro55]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

It's understandable that you want to offer valuable advice to your friend about growing their company's wealth. While investing in assets like Bitcoin can potentially yield significant returns, it's essential to consider factors like risk tolerance, financial goals, and the stability of the investment. Bitcoin's value can be volatile, and investing a large portion of the company's funds in it may expose them to significant fluctuations in value. Encouraging diversification and seeking guidance from financial professionals could help your friend make informed decisions about how to manage and grow their company's wealth effectively.

I really don't like OP's advice even though he has good intentions of wanting to help his friend. In my opinion, using a company's reserves or budget to invest in a highly volatile asset like bitcoin is an unwise idea. Not to mention OP completely does not know the business situation of his friend's company, he should not give such arbitrary advice. Finding a financial advisor is the best solution for both of you and the safest. We are just retail investors, not senior financial advisors and knowledgeable about finance, so we limit giving advice to others.

[angrybirdy]

Never force your friend to invest in Bitcoin, you should only explain the benefits of Bitcoin to your friend, the risks and benefits of Bitcoin. Then let your friend decide independently, moreover, to invest in Bitcoin, you must first understand the basics of Bitcoin well. You tell your friend the basics of Bitcoin, like how to hold it, when it goes down and when it goes up, and what levels it might go to in the future. Let the decision be made her independently.

A person should not be forced to invest in something he has no idea or interest in. Investment involves a huge value of money, so he cannot simply give advice to other people, sugarcoating what the achievements or benefits of bitcoin once we invest here.  crypto is volatile, everyone knows that, it is difficult to force someone to invest here especially if the details of your explanation are not complete and besides, it will be difficult especially if the person has no knowledge or doesn't even know even the smallest details about the investments.

[Peanutswar]

Does your friend already adjusted with the company if not and he will inherited the business it's a large factor how he will manage and continue to get having a success with their business. it's ideally to make an investment inside first like the machines if needed, human power, find and seek another co-investor so the company will keep growing. Just encourage him to make an investment with the Bitcoin if he knows already how to not make the company fail. Let him make an investment once he makes a good amount of money. BTC is just there no need to hurry up but the business already build it's reputation and help out tons of people to have job right there.

[Gladitorcomeback]

Does your friend already adjusted with the company if not and he will inherited the business it's a large factor how he will manage and continue to get having a success with their business. it's ideally to make an investment inside first like the machines if needed, human power, find and seek another co-investor so the company will keep growing. Just encourage him to make an investment with the Bitcoin if he knows already how to not make the company fail. Let him make an investment once he makes a good amount of money. BTC is just there no need to hurry up but the business already build it's reputation and help out tons of people to have job right there.

I wouldn't advise him to suggest Bitcoin or cryptocurrency investments to his friend, especially when the money in question is not his personal property but it's company's money and he should be using that money to improve or grow the company instead of making such investments where there is a risk of his money losing value over time because in case the company requires the money shortly and the price of Bitcoin is low at that time, he wouldn't be able to withdraw the investment and if he does, he will lose money in it.

No business can reach a level from where it can't be upgraded anymore, so the business his father has built must have the possibility of getting an upgrade and he can grow the business with the money instead so that he doesn't have any extra tension after investing the money in Bitcoin.

[Gaza13]

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Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

i support what you are doing, continue to encourage your friend to invest in Bitcoin, don't give up, you have saved his life and also the company that his parents inherited for him.  Bitcoin has become a protector of asset value by many institutions and if your friend's company joins in, the value of the company's assets will likely increase from year to year.

but you have to accompany them because usually those who have never been involved in the world of bitcoin, will feel afraid when the market is bearish, beginners have a tendency to sell at a loss so always accompany your friend in their investment in bitcoin.

To tell friends there's nothing wrong, it's best not to mix up the company's overall finances to invest in bitcoin, this will have a bad impact on their company? At least if they want to invest it must be for company profits only. It's true that what you said should be someone who accompanies or consults with his family. This is much better, compared to making decisions yourself. At least he appreciates his parents' hard work in building a company. Creating a company as we know is not easy, especially if it is already running well, it takes a long process to achieve it all.

[HideYourKeys]

I do not think that it is bad advice, but I believe your friend should research bitcoin on his own as well