Would you advise a friend in the same way?

[Outhue]

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.

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[Oshosondy]

You do not need to give him this kind of advice. You can advice him about how bitcoin is a good investment and that he can invest in it, but do not take it to the level of involving his parent company. Let him be the one to make that thinking and decision by himself. If bitcoin price start falling after he invested his father company money on it, he will start to blame you, even though the price of bitcoin will later still increase above the price he started investing.

[simons_js]

This depends on how much money the company has. Is it company money or inherited money from his father?

I think your friend needs to divide the company's money in the bank into several priorities, such as: capital reserves, emergency reserves. If the company has remaining money from mandatory reserves, it can be used for investment. He also needs to divide investments into at least two things, such as low-risk investments and high-risk investments.

I know bitcoin has a high rate of return on investment, but bitcoin falls into the high-risk investment category. This is not a good choice for small company investments unless the company already has strong financial reserves.

[Hatchy]

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.

Though Bitcoin is a good investment plan right now, but you shouldn't make it look lik the only option out there .i don't think you should involve yourself in situations like this as it might not end up well. Even though Bitcoin is a good investment, some people who really don't understand how it works might take it as scam ones the price begins to dip. I would advice your to say off from his decision on what to invest with his families money. You can just give him some tips but dont get too involved in it. If he decides to invest that's his choice so that he will be the one to bear any risk that come with it

[legendbtc]

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.

First, do you know what percentage of their company's capital MicroStrategy is using to buy bitcoin? I bet they are not stupid enough to use all the company's capital to invest in bitcoin and have no savings in the bank. Second, if your friend's company is in trouble and needs money urgently to handle it while his bitcoin investment is losing money because of the market dumping. How will you help him solve that problem and are you willing to take your money to help his company?

[yudi09]

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.

On the one hand, you as a friend are not wrong in saying that you are investing in Bitcoin.
On the other hand, the effects of price volatility that you cannot understand well can impact you, hot balls will be thrown at you.
As a good friend, don't have to give advice in certain circumstances if he doesn't ask for it. I think as a good friend, don't immediately advise him to invest if he doesn't know yet. Just guide him to know what Bitcoin is and other knowledge that is important to him.

[Upgrade00]

Cooperations function differently from how individual retail investors do. Without more information on the cost of production of the company, cashflow and whether or not it's privately or publicly owned you cannot give an advice on investments they can make.

You also cannot relate just any business with Microstrategy, they have different goals, cash flow, profit returns and investment targets.

As a rule of thumb, I do not advice anyone to invest in Bitcoin or in anything at all. I can only tell you the merits an demerits I have recognized and allow you make your decision.

[ololajulo]

He needs to know all the sides of the coin with trading on cryptocurrency.  It is still a lot of risk and all the big investors are conservative on the profit they want and exit time, so he won't regret taking the decision.  I can't assure anyone 2x from the present price of bitcoin but I can see other altcoin do that . So it is a tricky choice of coin to invest in at the moment

[Jawhead999]

If your friends really sure if the cash on banks won't be touched for long time because he already set aside money that will be for emergency needs, then it's not wrong to invest the money rather than leave it on banks.

If I were you, I would advise him to invest his money without mentioning which assets he need to buy because each person has different risk tolerance, knowledge and experience. Even he keep asking which asset that I invest or he should buy, I will not answer.

[LogitechMouse]

~

What's the purpose of the money that's being on the bank?
Is it for emergency purposes? If yes, then tell him to not touch it at all. I mean emergency purposes for the company because you don't know what can happen in the future.

TBH, comparing his company over Microstrategy isn't a good thing. Is his company as huge as Microstrategy? Yes, the company is continuously buying Bitcoins, but I still believe that they have extra funds that will be used just in case the company needs it. Does your friend's company have money have that? If yes, then go ahead let your friend invest into cryptocurrency "ONLY" if he knows about it. Don't let him invest the company's money because it's your advice. Let him invest because he knows cryptocurrency.

Well, you said it already, but TBH, I don't recommend somebody to invest into Bitcoin unless they're knowledgeable enough already. Good Luck I guess.

[Marvelockg]

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.

or he is still new to the business, it's best he relaxes and figure out how best he can effectively run the company for at least one year and then look at the excess profit that comes into the company before thinking on investing parts of the profit into Bitcoin or any other investments. It's necessary to understand that running a company isn't a simple task that you can easily figure everything out just by occupying the office as the boss and so it's necessary he ensures things all intact financially in the company before thinking to diversify the companies savings into another asset.

If we assume that the company is doing too well and still have excess money that's lying dormant, then you can consider using like 50% of the excess money as an initial money to front loard bitcoin while the remaining 50% will serve as emergency fund for the company. If after a while everything's seems to be going on well with no effect regarding the money that has been shifted into buying of Bitcoin, then you can probably advice that he start buying more using the DCA methord by then he must have gotten all the basics of investment into Bitcoin and wouldn't look you as someone that's possibly looking for ways to squander his fathers wealth.

[PrivacyG]

You did the worst thing you could in my opinion.

You are giving this guy an investment suggestion even YOU are not sure about.  You told him what he should do and then went to the Internet to ask if that was actually a good idea?  How do you expect this to end?

My advice.  Do not mix up friendships and business.  The latter can be rebuilt, but if the first suffers damage, it may be irreparable.

[OcTradism]

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.

You are wrong.

Because to run the company, he will need money. MicroStrategy has deep pocket and they did not invest all money they have to bitcoins.

Your advise is wrong too that if your friend took over the company from his father, with a task to run it, he has to do that. If he wants to invest in Bitcoin, do it with his own money or with part of revenue from that company.

If your friend invests in bitcoins, but then change to trading and use leverages, he will destroy the company inherited from his dad.

[btc78]

Is this the wrong advice?

Honestly? I don’t think so but it all depends on how you gave the advice to your friend.

If you carefully taught him everything he has to know about bitcoin regarding its history and even and especially the risks associated with investing on it then I think it’s okay. Of course he has to do his own research and it is up to him and other shareholders if there are any to follow up on your advice. As a friend, you just offered a possible solution for his problem so don’t fret too much about it.

[Rabbitqt]

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.

Never give advice, let alone advice for BTC. The common folk don't understand the BTC cycle, so as soon as we hit the bear market, guess who's getting blamed for their -80% loss... If he has money, tell him to see an actual financial advisor.

[LDL]

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 would consider your suggestion to be absurd especially since it is important to have your friend in the business that your friend's father has a business standing and not to invest all capital bitcoins in your friend's father.
You yourself know that investing in bitcoins is risky and if your friend's father can't make this investment at the right time, then your friend's father's investment will definitely be at risk and the amount of profit he would have gotten if he kept money in the bank might be less profit than investing in bitcoins.
Also, if your friend's father has invested in bitcoins and is not careful in hoarding those bitcoins, your friend's father's bitcoins may be at risk. You should be careful in giving advice especially if your friend's dad can't keep bitcoin holdings in the right wallet or if your dad's bitcoin gets hacked for some reason then your friend's dad might blame you for losing his bitcoin.

[Natalim]

It is good advice OP but don't pressure your friend to invest in Bitcoin especially if he is not fully knowledgeable about this. And since he is new to the company and his position, it could be best to listen first to his teammates. It was not because we are close to someone, we are confident enough that suggesting investing in Bitcoin will save them. We keep in mind that not all who invest in Bitcoin become successful and your friend might fail as well.
What you did is that you are dealing a huge responsibility with your friend. I'm afraid they will blame you and the company for such a suggestion in case it fails.

[sokani]

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.

As much as I like to encourage people to invest in Bitcoin, I'd say this is not a good advice. The money does not belong to him, it belongs to the family, so it'd be wrong to invest it without the family's knowledge and consent. The right thing is to have a round table discussion with his dad and other siblings and make them see why it is good to invest in bitcoin rather than having it in the bank.

[naira]

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.

A company that tries to follow Microstrategy investment steps does not have the same source of support so its output is also not guaranteed. Because the Saylor company clearly has ready financial support in any case, you may not be wrong but giving a friend the option to invest in bitcoin with the company stagnant condition, unstable income is very risky. So it all depends on whether your friend's company is able to balance everything, including the risks of Bitcoin itself.

The company involves many parties and there are many things that need to be considered. Therefore, it is not enough to just give advice about investment if your friend does not fully understand what Bitcoin is, its benefits and risks.

[Assface16678]

Well the thing is owning or managing a company is a different story or different thing, you see it's okay to suggest about bitcoin investment to your friend it will really may help the company or your friend but the thing is ensure that he has a proper knowledge and skill in investing in bitcoin because we know how volatile and risky bitcoin can be, and there is not a guaranteed that if his company money will grow or the opposite, maybe your friend can try to invest his own money first after that if he is good or has a shot on it then he may use his company's funds or money to invest in bitcoin and be in his company in order to grow more. so in short think throughly before you can suggest something, or it is okay to suggest but don't do reckless move especially in bitcoin, wrong investment can burn all your money.

[Ojima-ojo]

This is a bad recommendation for a company funds, because since you mentioned that the money belongs to his father company and in the bank there most be a purpose for that money being held there in the bank, also you don't know if the money is on a fixed deposits agreement.


This are questions you should ask yourself before you make any attempts to spend company money on other asset's that comes with high risks, Bitcoin should be an individual thing and you should only purchase with a cash flow that don't have need for long term and not emergency company money.

[Bananington]

...
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.
...

You aren't wrong to give an advice that you think would be a great deal of help to this your CEO friend. Am sure he may be thinking about it already but may have problems trusting a decentralized system for investment that he may likely not know so much about other than perhaps only you who talks about it.

You have to make your friend understand that investment with large capital has become possible with the ETF approval and that's an asset that would have added value if your friend accumulates or buy a very good portion of ETF asset for up to a decade.

[DanWalker]

This is a bad recommendation for a company funds, because since you mentioned that the money belongs to his father company and in the bank there most be a purpose for that money being held there in the bank, also you don't know if the money is on a fixed deposits agreement.


This are questions you should ask yourself before you make any attempts to spend company money on other asset's that comes with high risks, Bitcoin should be an individual thing and you should only purchase with a cash flow that don't have need for long term and not emergency company money.

Don't invest what you can't afford to lose, only invest what you're willing to lose...I bet OP knows this very well and has given this advice to many people on this forum. But surprisingly, he is now inciting his friend to take the company's reserves to invest in bitcoin.

Maybe it's not OP's company and OP has never run any company so he thinks everything is easy to solve and gives this bad advice. Bitcoin is not a profit paradise, and there is no risk, don't urge others to invest indiscriminately, OP.

[Rockstarguy]

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.

Giving him advise not to leave such amount of money is a good one, telling him how the money can be invested in bitcoin is not just enough. If you are concerned for him to invest and he is willing to accept Bitcoin as investment,  it is important for him to make sure to understand bitcoin very well. His understanding abouts  bitcoin should not just be that their is profit investing bitcoin.  If he should get the main understanding of bitcoin it will help him to decide if investing the money will be good and he will be a able to know how much should go into bitcoin.  

When people understands bitcoin very well it makes them to conclude on their decisions rightly,  so their won't be any challenge that may come up in the future.  So whatever advice you are giving to him, do not force him just make him to get the proper knowledge to get a clear understanding so that their won't be a high expectation of profit from the investment.

[Taskford]

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.

Just insert those investment suggestion on crypto if your friend is already have a knowledge on bitcoin investment. If he didn't have any knowledge about it and got interest because you say something that can catch his attention but turns out different on his expectation and lose a lot of money came from their company for sure your friend will blame you towards those possible bad faith he experienced at that moment.

That's why there's no need for us to get involve on the problem of other people since sometimes we should let them do the work on their own since for sure they also have their own plans on how they can possibly grow their money. And if they don't know bitcoin for sure they will not spend any time to try it since for sure this people will find it risky.

[Distinctin]

You do not need to give him this kind of advice. You can advice him about how bitcoin is a good investment and that he can invest in it, but do not take it to the level of involving his parent company. Let him be the one to make that thinking and decision by himself. If bitcoin price start falling after he invested his father company money on it, he will start to blame you, even though the price of bitcoin will later still increase above the price he started investing.

You are giving him some guarantees that bitcoin will eventually make the company’s money works, and that doesn’t work that way easily. Bitcoin is a profitable investment yet a very risky one, most especially if you are using funds that you can hardly lose. So instead of advising him to invest the company’s funds, just tell him to invest using his own money, that is if he had really understood the risks and rewards with investing in bitcoin. Through this way, he will first experience it himself how risky bitcoin investment is, before he risk his parent company’s money and put the funds into risk.

[Rengga Jati]

I understand what you mean, maybe actually. you mean well. But if I were you, I wouldn't give advice like that. Because it is a very risky thing. Moreover, if we directly advise him to invest in Bitcoin, that is very risky for me, of course, because we personally will never be able to guarantee that the investment will always be safe and profitable.

The best thing I would choose is to introduce him to Bitcoin first, not immediately tell him to invest. At least, let him know more about Bitcoin first, about its pluses and minuses, pros and cons. So, even if he decides to invest in Bitcoin one day, then it is based on his own will and he is already in a ready condition or position with the knowledge he has. This means we let him not be blind in investing.

If one day it turns out he lost his money, because he followed our advice without proper preparation, we will never know what he was thinking. It could be that later we will be considered guilty. especially if it is big money, this is risky. Even though we understand that Bitcoin is a profitable investment, there will definitely be risks, nothing is safe here.

[Adams0001]

You do not need to give him this kind of advice. You can advice him about how bitcoin is a good investment and that he can invest in it, but do not take it to the level of involving his parent company. Let him be the one to make that thinking and decision by himself. If bitcoin price start falling after he invested his father company money on it, he will start to blame you, even though the price of bitcoin will later still increase above the price he started investing.

You are correct, it is the greatest approach you should teach him more about bitcoin so that when he does his study, he can decide whether to invest or not in crypto investments, you can never tell when the bitcoin will fall or increase. Bitcoin is a fantastic investment for those who are aware of it however, I cannot say this for everyone because some people do not believe in bitcoin and perceive it as a hoax. I will add my suggestion to you, he should not take all of his parents' firm property in bitcoin, because he will be new to the system, he will attempt to invest tiny first and see how the investment goes before he can invest huge, if you told him to invest all of the company funds in bitcoin and the price of bitcoin drops dramatically, he would claim you are the one who gave him the advice, and he will no longer believe you, which is why you must explain to him about bitcoin and advise him to invest tiny amounts. Even if the market falls, he will not be affected, and if the bitcoin rises and he makes a profit, he will be pleased and trust you, and he will be able to invest heavily because he understands how the market works. Even if the price falls, he will know that he will rise again, and he can believe that anything in crypto is patient.

[Mauser]

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 a bit hard to give a general advice without knowing more about the business of your friend. In general having at least a small investment in bitcoin is a good idea from the diversification point of view. Even with prices quite as high as they are now a Bitcoin investment offers good opportunities for anybody, because all the other potential investments like stocks are also close to their ATH. The only problem is if your friend is in a business that might need quick short term cash. I would be careful with investing money that could be needed in a few weeks again. There will always be short term price fluctuations that could lead to losses for people that are forced to sell.

[Wapfika]

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.

Advising about financial decisions while you are not a financial manager or anything related to finances job is always a bad idea. You have nothing to gain if he becomes successful aside from thank you while you will be blamed for the rest of your life by your friend if ever he suffer a huge loss after following your financial advice.

Bitcoin investment is a very good choice but you can’t assure that your friend will not invest on crazy stuff on crypto after buying Bitcoin because he will surely explore including the scam aspect of crypto because that’s the place which the profit is quick and high as promised to newbs.

In short, Don’t do it. Let him be interested and crypto on his own without inviting him to invest.

[m2017]

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 assume that this money is not just lying in the bank and some interest (dividends) is accrued on the deposit. Of course, these will be ridiculous percentages and this step is not the most profitable way to use the money.

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.

You can’t just go out and buy bitcoin, and then the company will immediately grow. This is from the category of fantasy. The company must carry out some kind of activity, although bitcoin can help with financing this, but not instantly, because it takes time for this asset to bring a good profitability.

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.

Probably, advice can be considered good if it is beneficial. If you want to know the usefulness of your advice, let your friend invest in bitcoin and see the results. But you should understand that investing is only half the battle and you need to make a profit in the end, and for this you need to be patient (get a strategy for acting in the cryptomarket) and sell the asset at a favorable rate (with a profit).

[Maus0728]

Definitely wrong, I think that you shouldn't have given that person any idea of risking that amount of money to bitcoin, you've said that he's taking over a business which means that he's going to need any money that he can get to make sure that he's not going to have any problems with the business, the best thing that you should've done was to tell your friend to invest not the money for the business but his personal money, that way, the business will thrive without the risk of falling apart because of the lack of funds. Also, depending on how the business is structured, that could count as an embezzlement since that can be considered a misappropriation of funds for the business.

[Razmirraz]

Your advice will be right on target if the company's condition is fine or not experiencing a financial crisis, the money can be invested in Bitcoin if it is not used for company needs such as paying employee salaries or buying other necessities needed for the company's needs. Investing in bitcoin takes time due to the market continuing to fluctuate, there are other things that need to be considered such as readiness to take risks and sufficient time to gain profits from the investment.

Has he invested in Bitcoin before? If not, he should know more about how to invest and store Bitcoin in a safe place. There are many things to consider when investing using company money, I hope you are not the party to blame if the price of Bitcoin suddenly drops after using company money to invest in Bitcoin.

[passwordnow]

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.

Honestly, you're wrong. You shouldn't meddle with people and its company's fund. What if they throw back to you the question about running a company and how well versed you are financially? Do you think that you'll be able to reflect and answer them good? It's a bad advise to use a company's fund to invest and compare it with a larger company that's been investing in Bitcoin. I know that we're both bitcoin investors but we shouldn't involve ourselves when it comes to these corporate matters that we're not part of the organization. You should just wish that friend of yours to do good with his company and you'd support him whatever he does. But if it's your friend's personal money, that's fine as it is not going to affect the entire organization but only his money if ever he's not going to do good with it. Unlike with touching the company's fund that's sitting on the back, it's a big trouble. Know that there are internal auditing that happens to them that are scheduled so please refrain in suggesting on what to do with a company's fund that does nothing to you.

[jrrsparkles]

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.

Bitcoin can be added to someone's investment portfolio for sure but investing the company reserve amount into any volatile assets is not recommended, it should be kept in liquid cash unless the funds are no longer needed for the company to grow. And I don't understand how it grows when the money is sleeping in the bank, it should be invested in the company's development.

[Mpamaegbu]

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.

Your advice was a good one. It shows you're looking out for your friend, genuinely. The only issue with this is that you've stuck you neck out too long that it can easily get bruised. People easily want to blame others when things go wrong with their lives. This is what will happen if your friend takes your advice and something bad happens to that decision. He will find a way to blame you for that. Hackers and scammers are the bane of this industry, besides government. I hope you told your friend about wallet security and let him know how to take care of all that. Again, endeavour to also tell him about Bitcoin circle and that it's not always rosy for Bitcoin. It has its down moment, and it's a scary one. If I were you, I would just tell him about Bitcoin investment but I won't stick out my neck that much by telling him to throw the company's funds into it. Remember how antagonistic the government is towards Bitcoin. Don't forget that government legislation can turn things 360 degrees overnight.

[Nwada001]

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.

Micro Strategy is a big company, and the money they invest in bitcoin is not part of the money they could use on a day-to-day basis for company expenses.
 
You should never use big company decisions with large assets to advise a small company, which can run into financial losses at any time.
 
If the father leaves large amounts of money in the company's account, that should be for a reason, and that reason is in case the company needs any urgent things that need financing in order for the company to stand out.
 
So if your friend invests this money in bitcoin, knowing fully well that bitcoin is a volatile asset, when the company needs the money to sort out some things, the price of bitcoin as of then might not be on the positive side, and he might have no other option than to sell that price, which could only result in a loss inside of him realising profit.

[Dunamisx]

I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong?

Obviously you're not wrong, but you need to let him know as well the advantages and disadvantages and disadvantages of bitcoin, he also have to realized that making an investment in bitcoin may require more of his time and some patience in holding, its not like other investment in which we may want to have a quick and urgent result, when we invest, we need to wait and hodl, then he can learn from the basics and start a little before investing the whole asset he got from his father.

[Dzwaafu11]

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.

Your friend did not need this advice, and I don't think investing in bitcoin is the best way to grow his father's company because Bitcoin investment itself has risk, and the business they are doing also has risk, so you can see that the risk will be too much for the money this company is generating. Aside from that, you should not have advised your friend to invest in bitcoin; rather, you should have told him how good bitcoin is and how it will help him, including the risk.

However, whatever you are telling your friend about how to grow his father's company, don't, and if you want him to invest, don't forget to let him know how the investment works. This is the most important thing you should tell someone when telling them how they will invest in the company. Money is not for him; it is for the family, so for him to invest the money in bitcoin is kind of a risky thing to do. so that when the market goes to the other side, you can confidently repeat what you have said.

so, I think it will be better if you go back and just teach your friend about the bitcoin investment and not give direct advice that he should just invest the money in bitcoin without knowing the risk, how to manage the risk, and some other things that are necessary. And again, your friend should let his father know about this plan; he shouldn't just pack the money from the account and invest in Bitcoin without the owner's consent.

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.

You will do the same because you know about Bitcoin investment and how it works, so you will be able to manage the risk. in every situation on the market.

[qwertyup23]

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.

Well I think that your advice was sound- you are basing this on experience and if people would just search BTC and its price history, the proof is already on the pudding.

My advice would is that you try to tell your friend and explain to him the reasons on why you chose BTC as an investment compared to other traditional investment platforms available. Instead of convincing him, explain it in a way that he would get the core of cryptocurrencies so that he would consider it.

I read a recent post on reddit where people would try to convince the general public on investing in BTC. Unfortunately, majority of the people are so blinded by what is shown on the media that they automatically associate BTC as a "scam" and as a "pyramid scheme" without even knowing what it is in the first place.

[Queentoshi]

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 can be a good advice, but it is not good to give financial advice when not asked. Financial advice is not what you give to everyone especially friends because it can ruin your friendship if this advice leads the way of the downfall of the business, and also because you are not professional. Do not give financial suggestions to people unless they ask you for it, and even when asked about it, always be sure to add a warning to them to not follow your advice without trying to do their own research. 

[GbitG]

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.

Hmm, that's good advice regarding the Bitcoin investment from your friend. But I think you should not have involved yourself. Meaning, you should just tell him that Bitcoin is one of the best investment assets that can give you a big return. And at the same time, be alert that it is a volital thing that is dynamic with profit and big loss. 
 
I really appreciate your work. OP, you gave good advice about investing in Bitcoin, but one should not advise anyone with the same style because it leads to financial abuse. Your thinking was right, but the style was wrong. Because if your friend loses, he will blame it all on you. Obviously, you had advised him to invest in Bitcoin. 
So let him know more that if he is really interested in investment, tell him to divide his funds among the whole fund of the company. One part is main capital, the other is emergency funds, and after that, whatever is extra, he should invest in Bitcion and invest in Bitcoin also under the DCA strategy and hodle for the long term, then he will surely organize big margins of profit.

DYOR !

[Hyphen(-)]

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.

You are not wrong, you actually bring a good idea that can bring improvement to the company using using the money they are not using in the company’s bank account. But, did you consider how the family is? How many are they in the family or is he the only hair to the family? If answer to all these questions is yes, then you friend can go ahead to invest the money in Bitcoin because it will give the company a backbone in terms of financial independence.

[Fivestar4everMVP]

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.

This days, with how fiat currencies are losing value rapidly due to high inflation, I will not say that this is a bad advice, atleast, if at all I was in your shoes, or find myself in this same shoe anytime in the future, this is exactly what I will also advice.
Bitcoin over the years have proven to be a trusted store or value that won't fail, as long as the investor is only investing money that he or she plans to hold for a very long time, and he or she is also patient, such investment will always pay off, we have alot of persons and companies to reference in this context, and aside Microstrategy, we have the president of El salvador as another notable person who have succeeded in placing El Salvador in the world map by not just his strategic investment in bitcoin, but also the way he strategically adopted bitcoin and made it a legal tender in his country, today, we celebrate El Salvador for their enormous various achievements all by the help of them having a visionary president who saw the future before everyone else in the country and decided to give his people a better life by investing their country's treasure in bitcoin.

So, in essence, investing in bitcoin is one investment plan that possibly will never go wrong or soar, if (like I said before) the investor is patient, and it's better to hold bitcoin than hold fiat, since fiat are designed to lose value and purchasing power overtime, while bitcoin; due to its fixed supply, is designed to increase in value, gaining purchasing power over time.

[darkangel11]

IMO if he has money in the bank that does nothing but lay there being slowly reduced in value by inflation, he should invest it and bitcoin is a very good choice.
What he should keep in mind is how much emergency funds does his company need in case of another black swan event like in 2020. He should leave some money so that he doesn't go bankrupt if if bitcoin suddenly goes into a correction and his usual income from company contracts or sales decreases. Maybe invest 30% at first?
That said, definitely get some bitcoin. I'd invest at least 50% of the money he has and I wouldn't buy Microstrategy stock but the real bitcoin. MSTR can go down if Saylor suddenly dies. Bitcoin will not have such problems.

[Crypto Library]

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 will not say your advice is wrong but I will say that some words should have been added here. And they are thinking that bitcoin investment will always bring profit to all companies but it is not correct because bitcoin investment has high volatility and that can push up a company just like it can also worsen their economic condition. Now I think if a company wants to make bitcoin investment then they should first know how much their own affordability is, they should understand if they can survive the bear season by making bitcoin investment.
And I think they can invest that much on bitcoin as the afford. So that later in the bear season they can run properly in their company. The company called micro strategy has made a huge amount of bitcoins and we have to remember that micro strategy has made such a big investment because it affords that amount of funds. So because Microstrategy has made such a big investment, there is no point in saying that we all have to do it, we must understand our afford and then make the investment.

[Salahmu]

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.

In as much as Bitcoin investment is one of the best investment but in a case like this it wouldn't be a good idea for the guy to invest all his company money into Bitcoin because one of the things we most consider is that Bitcoin is not a get rich quick investment because it takes a lot of time and years before you could start seeing profits, so the question now will be that how would the company survive if there has not been any profit on there expected months that would likely keep the day to day activities of the company running?. Because the reason why I'm saying this is because some  persons has ran into trouble through similar situation.

However it could be more advisable if the guy could invest his own money instead of the company's funds because with that way there would not be any problem and he can actually hold for as long as he desire.

[acroman08]

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.

Kind of, I mean, you should have let him figure it out what he wants to do. while I get what you are trying to do, I still think what you did inappropriate. People need to figure out what they want to do with their money. It can become a disaster if your friend took you up on your advice without properly preparing for what he is about to do.

[Kryss191]

is his money now,let him do what he wants to do but in my opinion you are right

[The Cryptovator]

You aren't his legal financial advisor. So you shouldn't give advice this way. But you may explain to him about Bitcoin and how it works. He has to know what Bitcoin actually is and how it could be beneficial for him. So once he understands everything, he might make the decision himself. You can't compare other companies with MicroStrategy. They have a different strategy to accumulate bitcoin. They have a legal team to take decisions, and they are investing a part of the profits. So even during the dump, they don't need to be afraid or panic. So I will advise him to learn about crypto and make his own decisions. 

[bluebit25]

Perhaps you are wrong. MicroStrategy is already a successful company with significant assets, and Bitcoin is not its only investment. A large asset must be approached with caution to help protect the business from unnecessary risks. It is natural that he would question the use of such highly leveraged instruments. Risking a portion of your company's savings or income may be one thing, but borrowing money for the purpose of transferring equity to buy bitcoin has negative consequences. If we talk about leveraged trading, then in this case it is dangerous and risky and it can be the cause of the bankruptcy of the enterprise and the loss of a significant part of the capital. There are safer ways to get exposure to Bitcoin if his heart is set on it.

[mirakal]

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 can be a good advice, but it is not good to give financial advice when not asked. Financial advice is not what you give to everyone especially friends because it can ruin your friendship if this advice leads the way of the downfall of the business, and also because you are not professional. Do not give financial suggestions to people unless they ask you for it, and even when asked about it, always be sure to add a warning to them to not follow your advice without trying to do their own research.  

Yes, it can be certainly good but a risky one. There are still no guarantees that if you invest in bitcoin, you will end up with significant profits, that only happens for those who have been hodling their bitcoins for too long, probably 5-10 years without having an attempt to sell them earlier. Now, I don’t think that long term hodling will be applicable to the company funds because I believe, those funds will serve as a back up for the company in case some budget shortage will occur, and if you invest it into bitcoin, you are already defeating the purpose of that money stored in a bank.

He can actually invest using his own funds, at least if he lose partial of his funds, that won’t be an issue since it won’t compromise the company funds.

[electronicash]

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 can be a good advice, but it is not good to give financial advice when not asked. Financial advice is not what you give to everyone especially friends because it can ruin your friendship if this advice leads the way of the downfall of the business, and also because you are not professional. Do not give financial suggestions to people unless they ask you for it, and even when asked about it, always be sure to add a warning to them to not follow your advice without trying to do their own research.  

Yes, it can be certainly good but a risky one. There are still no guarantees that if you invest in bitcoin, you will end up with significant profits, that only happens for those who have been hodling their bitcoins for too long, probably 5-10 years without having an attempt to sell them earlier. Now, I don’t think that long term hodling will be applicable to the company funds because I believe, those funds will serve as a back up for the company in case some budget shortage will occur, and if you invest it into bitcoin, you are already defeating the purpose of that money stored in a bank.

He can actually invest using his own funds, at least if he lose partial of his funds, that won’t be an issue since it won’t compromise the company funds.

he just has to make sure OP is also there when the market trends are about to change.
it is good advice at least when the market is bullish but even MS did what it did because there is the need to make a profit.

i am afraid to give a piece of advice as such to someone because i don't want to be blamed. it's why all those that i tried convincing to have BTC are just my siblings because these guys will just laugh at why they ever listen to me if ever i fail them.

[|MINER|]

Suggestion to investment in Bitcoin will be always good but the basic things should be followed and the things are afford zone of the investor. Your friend has the company and the company was his father first of all he should be taking care of his company rather than going to any other investment. And after that if he have enough money for investing then he should know the analysis the basic of Bitcoin then he can invest. I would like to say to you that say your friend first of all figure out the Bitcoin investment then invest.

[Churchillvv]

Sincerely, I don't think it's a good idea for your friend but it's absolutely a good idea if only your friend is into bitcoin already, bitcoin is highly volatile and it should be considered a long term investment plan not an investment that will tempered at any given moment. From my perspective, the funds which your friend told you about is a stagnant in his father's company either because it's intended to serve as reserve funds for the company incase of any unforeseen circumstances.

If invested into bitcoin and the need arises and it can not be accessed at the very important moment then you advise will turn into a bad idea because your friend will put a the blame on for such idea but if he had thought of it by himself then it wouldn't have been a problem.

I will suggest your ask your friend if he wants to go into bitcoin investment it should be with a capital he can not afford to lose just as the obvious one here but if he has his own personal funds that is in fiat that maybe his not ready to use in a long term then it can be put into bitcoin and perhaps within the 4 years circle of bitcoin he must would be in profit.

[Issa56]

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.

Did your friend even knows about bitcoin? If he doesn’t know about bitcoin, you shouldn’t just ask him to invest in bitcoin without having proper knowledge about bitcoin,  don’t you think he might end up losing the bitcoin and they business is going to crash, and you are going to be blamed for that because you encouraged him to invest in bitcoin. You shouldn’t use Microsoft as example, you just said it’s a small business which am sure will be handled by just few people, if anything happens to the money in the bank, they might not be able to run the business again, but if Microsoft lose their bitcoin, their business will keep on running.

Since they are just handling over the business to your friend, then the should just leave the money in the bank first, to understand how things works, maybe when your friend has settled down, then he can start investing some of his profits in bitcoin, but don’t invest all companies money in bitcoin.

[bitzizzix]

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.

If he were in your position maybe you would, and my question is. Does he have knowledge about Bitcoin and also understand or know the risks that will occur if it does not go according to expectations.
Although I think you are not wrong because you do know Bitcoin well as a whole. However, it is better if he is given sufficient understanding and knowledge in detail and includes the existing risks, and after that the decision is in your friend's hands after he has this knowledge and has also carried out thorough research.
And this avoids that your friends will blame you if what happens doesn't go as expected, and even though Bitcoin is promising, anything can happen due to several factors that you never knew before.

[Volimack]

Advising to invest in bitcoin is the right decision but your friend needs to know more about bitcoin before investing based on your words. Because the future of his company is involved with bitcoin investment, he must know the basic things of bitcoin by doing market research. Bitcoins are not static so if you see the price drop after investing you may be blamed. That's why your friend should know all the information about bitcoin market and then invest.

[SOKO-DEKE]

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.

Given advise to people to invest in Bitcoin I don't think it is a good idea, the best thing I expected people should be doing whenever they want to attract people intention towards Bitcoin is just to teach them about Bitcoin,by not hidden anything for them tell them benefits and how risk Bitcoin involve, and I believe that if someone really pass good knowledge  people that understand and interested in Bitcoin will definitely get confused and invest in Bitcoin, advising people to invest in Bitcoin it may bring future problem with the people you advised to invest in Bitcoin if anything did not work properly as it expected and know due to volatile nature of Bitcoin anything can happen, the price can come down anytime.
 
Running a company is not an easy thing. The money that your friend said is doing nothing in the bank may be there for one or two purposes; it may be that those funds are saved for any problem that may arise in the near future, to solve problems that may later arise, or probably for any emergency. I advise you and your friend that even if you guys want to invest in Bitcoin, it should be the money the company can afford to lose. Don't allow greed for making huge profits to allow your friend to invest in something the company can't afford to lose.
 

[michellee]

Your advice is good, but he needs to know whether the money will be used to develop his company or free money that can be used to invest in Bitcoin. If the money is for the development of his company, he should not use it to invest in Bitcoin, as that could disrupt the company's finances.

If his company made a profit in the previous year, he can use the profit to invest in Bitcoin. That will expand the number of assets, not just the company.

You can give advice like that, but it will all come back to him because he is now the owner of his company. You can teach him about Bitcoin first before suggesting he invest in It. He needs to know more about Bitcoin before deciding.

[fuguebtc]

Personally, I think it is never a wise idea to give financial advice to others, let alone advising others to use money to maintain a company invested in a highly volatile asset like bitcoin. Frankly, that's bad advice.

We ourselves are even struggling with our investments, how can we give advice or teach someone to get rich when we are not rich yet and are even poorer than them?

There are many areas where you can make a lot of money, investing in bitcoin is not the only place to make money. Your friend has a job with a good income, and if you are a good friend, you should advise him to focus on his work instead of giving him financial advice that is not in his field.

[Nrcewker]

Don’t ever give any financial advice to anyone. If the advice turned into profitable, then they will praise you, but by chance , if it ends in loss, then they will be the one who will blame you. Hence you can give suggestions, but don’t financially advise them. It’s their own money, hence they should be responsible for where to invest or where to not. As a second person you should always avoid these types of situations.

[Ayers]

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.

Can you tell me, does your friend know anything about bitcoin? My guess is he doesn't know about bitcoin because if he did, he wouldn't need your advice. And why are you so hasty in giving bitcoin investment advice to someone who doesn't know about bitcoin? Have you ever thought about a situation where your friend's investment fails and you will be responsible to him? Why don't you tell him to try learning about bitcoin and give him the information and let him decide for himself?
I have a feeling that you are looking at bitcoin as a get-rich-quick investment and you are also encouraging your friends to understand bitcoin that way.

[gunhell16]

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'm not going to say whether what you did is right or wrong. Just mine is probably the best thing to do when there are people like that, which is to give them an idea or understanding about why Bitcoin's a good investment for the future. We no longer mention to him that he needs to invest in bitcoin.

So, let's let him see for himself that Bitcoin is beautiful and has the potential to be an investment, and let him see the features it has so that he can realize even more that this Bitcoin is really unique, especially in the future.

[TheUltraElite]

You need to stop giving advice to other people be it friends of family. You are doing it out of your goodwill but people will take your for granted and pin their losses on your head.

I would only advice my close friends about what bitcoin is, how it works and how one can make money from it and keep themselves from the scams surrounding bitcoin. I would not ask them to invest their paternal company balance into bitcoin, that is suicide for many.

Always maintain a neutral stance when discussing financial concepts.

[Bloodseekers]

Advising to invest in bitcoin is the right decision but your friend needs to know more about bitcoin before investing based on your words. Because the future of his company is involved with bitcoin investment, he must know the basic things of bitcoin by doing market research. Bitcoins are not static so if you see the price drop after investing you may be blamed. That's why your friend should know all the information about bitcoin market and then invest.

When we advise friends to invest in Bitcoin of course we have to be able to teach them about the investment until they understand it properly and don't let them not understand and invest of course this will be detrimental to them and after we suggest to them of course they will be able to make The choice of whether they can invest in Bitcoin or not of course really depends on their own choice and we should not force them in this matter. All we can do is suggest and give them a little understanding in this matter and the rest they can learn for themselves if they are really interested in investing.

Don’t ever give any financial advice to anyone. If the advice turned into profitable, then they will praise you, but by chance , if it ends in loss, then they will be the one who will blame you. Hence you can give suggestions, but don’t financially advise them. It’s their own money, hence they should be responsible for where to invest or where to not. As a second person you should always avoid these types of situations.

Indeed, it would be better not to give advice regarding financial matters because as you said, if it works for them, of course they will praise it, but if it is not in accordance with what we expect, of course this will make us no longer have a good relationship with them, if we suggest it is indeed better because everyone has the right to manage their money according to their wishes and they must be able to be responsible for their financial decisions.

[Blitzboy]

Honestly, your advice is fantastic. Bitcoin isnt just an investment, its the future of finance. Look at MicroStrategy - they took the leap and are crushing it. Leaving cash idle in a bank? Thats old-school thinking. The interest rates are laughable.

Now, Im a big believer in Bitcoin. Its success proves the concept works. But the key is strategy. You need to understand the market, the ups and downs, the big picture. Bitcoin is revolutionary. Your advice is smart. Its about seeing the opportunity and seizing it. Thats how businesses become leaders. And frankly, thats how you win big.

[Mate2237]

Since the money is just in the bank and they are not using it then he can use it to invest in bitcoin. It is a good advice but before you ask him to invest, you have to ask him if he will like to invest in bitcoin and explain t the advantages and the disadvantages and if he likes to invest then you have to teach him the basic knowledge of bitcoin how to create wallet account, how to secure password and the seed phrase and where to buy bitcoin and sell. And when he has known all these things then, he can invest in it and make sure that he understands the volatile nature of bitcoin so that when bitcoin is in the dip he will not panic and disturbed.

It is good to direct and guide people to invest but don't invest for them. Because no f you invest for and any slide downturn from their end they call you name. And if you invest for them in the Bull Market and Bitcoin enter the dip and if the dip long then they will blame you for it. So to avoid all that just teach them and let them invest in it.

[goldkingcoiner]

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.

You were both right and wrong. Right in the sense that Microstrategy seems to be doing well and might prove as a good investment. But you were wrong in giving somebody financial/investment advice. I am not sure how it looks like in your country, but in mine, you cannot provide things like financial advice without being certified to do so. If something were to go bad with the investment, the person who you advised might decide to go after you legally, even if in the future you are proven right.

[AnonBitCoiner]

In my opinion one should keep bitcoin on smaller scale because if you find some risk then no one will be able to blame you. If someone is investing in bitcoin with his father's company budget then I think he should share this idea with his father because nothing should be hidden from parents.

We should share about bitcoin with others but we should not give them idea about how to take money and from where we have to collect money for its investment because every person has different sort of life. We should not give them such idea due to which they find a way to blame us

[Z_MBFM]

You do not need to give him this kind of advice. You can advice him about how bitcoin is a good investment and that he can invest in it, but do not take it to the level of involving his parent company. Let him be the one to make that thinking and decision by himself. If bitcoin price start falling after he invested his father company money on it, he will start to blame you, even though the price of bitcoin will later still increase above the price he started investing.

Investing in Bitcoin is very risky so I would not encourage anyone to invest in Bitcoin unless they have extra money to invest. Because a person needs a lot of money for daily expenses that needs a lot of money to meet the expenses. So after meeting those expenses if one can afford to invest in Bitcoin then he can. Bitcoin is a strong asset like gold but the volatile rate of Bitcoin is very high due to which if you invest here it has to be long term but not everyone has this patience. so before making investment, you must have a mindset of patience.

[Smartvirus]

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.

Money makes money and it doesn’t do that seating in some bank, that’s a bad idea to me. It ain’t all bad that you have some fiat savings but, it should be some minimal amount based on what stage you are in life. You try to quantify it and what you worry more over, get it insured. Should you be more about the business as a center of focus which should be, be sure to insure it while, you redirect a considerable part of that funds to Bitcoin investment amongst others and even look to expand the business.
There are more than one means to securing a business and making money, utilize what technology is available to you and the business is sure to grow well above what he took control over.  Though, no where in this said his old man was deceased and as such, you seek him out on opinions if need be.

[Stable090]

Honestly, your advice is fantastic. Bitcoin isnt just an investment, its the future of finance. Look at MicroStrategy - they took the leap and are crushing it. Leaving cash idle in a bank? Thats old-school thinking. The interest rates are laughable.

You don’t even care to ask if the person is having bitcoin knowledge or if the person is interested in investing in bitcoin, I know bitcoin is the future of finance, but we shouldn’t ask people to invest in bitcoin when they have no knowledge about bitcoin, we should be honest and tell them everything about bitcoin, we shouldn’t talk only about the positive aspects of bitcoin, we should also let people know that they can lose money in bitcoin investment. Why do you even have to compare someone handling small scale business with microstrategy. Hope you know when making bitcoin investment, you are suppose to invest any amount you can afford to lose, if it’s going to affect the persons business when they lose the bitcoin, then it’s better you don’t use the money to invest in bitcoin.

[Gladitorcomeback]

There are two things. The first thing is whether the money kept in the bank is free and isn't going to be used anytime soon for the company, and the second is whether your friend and his company can manage such investments no matter what sort of situations may occur in the market.

MicroStrategy is a big company and it is managed by expert businessmen and their teams know what they are doing, whereas the company of your friend or his father, as you said it, is small and might not be able to manage Bitcoin investments because Bitcoin doesn't just go up, it can go down as well, and MicroStrategy have always timed their purchases very well.

There is nothing wrong in giving advice, but you need to make sure that your friend understands all the risks involved and knows how these things are done. If he buys Bitcoin at $70k and then Bitcoin dumps to $30k later on, you are the one who is going to be blamed for the loss of value his company will experience.

[stadus]

Don’t ever give any financial advice to anyone. If the advice turned into profitable, then they will praise you, but by chance , if it ends in loss, then they will be the one who will blame you. Hence you can give suggestions, but don’t financially advise them. It’s their own money, hence they should be responsible for where to invest or where to not. As a second person you should always avoid these types of situations.

Any type of investment seems unpredictable, so one is not supposed to give finance advise as if you are giving him full guarantee that bitcoin will surely grow his money, when we all know that bitcoin investment can make you rich and prosper but it can also ruin your finances and turn you homeless when you least expect it. You may give your own point of view, but you can never make financial decision for others. Let them do their own research where to invest.

[Rruchi man]

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.

Your friend has stepped into a big position that comes with lots of expectations for success. His father even though is old and has passed on management of the company to him will not just fold his hands by the sides and not be interested in the performance of the company he has handed over, so every decision to be taken needs to be well calculated.

Remember that although you are put in charge of the company, company funds is not your personal funds, and the proper way to utilize company funds is to reinvest it back into the company. If it is a production company, getting new machines can help increase the profit of the business, if it is a logistic company getting new logistic vehicles can be a way to promote the business. All profitable investments does not have to be Bitcoins, some normal investments are profitable and can yield you personal income to then invest in Bitcoin.

[oktana]

If what you’re saying is that he should use a fraction of what the company has, then that makes sense. But if you’re just advising him to invest everything then I don’t think it’s a good idea because the company should have its own funds and not use all of it on investments. Also, just leave him with the advice. If his thoughts keep telling him not to invest it, then don’t talk about it anymore. This is just in case it happens that there’s a price dump tomorrow, you don’t have to be blamed.

[SamReomo]

I would never advice my friend in that way, I know Bitcoin is a good investment and there's no doubt in that, but it could be a bad investment for someone who doesn't know well about it, and about personal wallets and their safety. If I was on your place then I would suggest my friend that consider investing in Bitcoin the amount that's not needed for the company in anyway. I would also tell him to learn deep about Bitcoin and personal Bitcoin wallets.

I would just tell him about the benefits that Bitcoin has given to its investors but would never give him any financial advice. We all know that Bitcoin is a volatile asset and it can pump/dump in value, and suggesting others to invest in it is risky. I would definitely tell him about the perks and profits that Bitcoin investors have made, and let him to decide that if Bitcoin is going to work for him or not. I would also suggest him to do his own research about Bitcoin and consider it if he get convinced that it's a good investment for him and for his father's company.

[pinggoki]

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.

In short-term you're probably right about giving that advice but in the long-term, there's a possibility that the business would see some unforeseeable events that could lead to something really bad which would end up with you having nothing but the chances of being blamed. I think that you need a spare money that's never moved or meddled in any way in a business because expenses that aren't expected are expensive especially with business not to mention that the foreseeable things that might happen is even higher because your friend took over a company and we all know how it feels when it comes to changes in the management, a lot of people would have a hard time adjusting and some might not even like the new management that could lead to them quitting which is a big possibility.

[Miles2006]

I find nothing wrong giving a financial advice and besides you're the one sharing an opinion, your opinion is not wrong but first the money is an organisational money like a company money so my question is how long can this company invest in bitcoin without wanting the money for something else cause bitcoin investment is for the long term plan, if you're telling your friend to invest for just a short term profit then it's not right. I don't like a situation when I tell a friend about bitcoin and it turns out to be a bad advice especially when you over hype bitcoin and they actually expected more. I will always say bitcoin is a good investment choice but your friend should understand about bitcoin first before investing.

[Alone055]

I find nothing wrong giving a financial advice and besides you're the one sharing an opinion, your opinion is not wrong but first the money is an organisational money like a company money so my question is how long can this company invest in bitcoin without wanting the money for something else cause bitcoin investment is for the long term plan, if you're telling your friend to invest for just a short term profit then it's not right. I don't like a situation when I tell a friend about bitcoin and it turns out to be a bad advice especially when you over hype bitcoin and they actually expected more. I will always say bitcoin is a good investment choice but your friend should understand about bitcoin first before investing.

Agreed. Giving advice where the result can sometimes go the other way can put you in a bad situation because your friend might be thinking that you are giving him the best advice and his company and the money would grow over time, though it can through Bitcoin investments. Still, we also need to understand that Bitcoin is a volatile asset and when we say volatile, we mean both positive and negative movements. So if Bitcoin can go from $30k to $60k in a couple of months, it has the potential to get back to the same point within a month if market situations change.

One more reason that I always keep in mind when advising people about such things is not to become the target in case the investment doesn't work out or they face losses instead of gaining anything over their investment. If you tell your friend to make this investment, and he does that, however, after the investment, Bitcoin starts dropping in value and your friend sees the value of his company's funds dropping significantly, he will be worried and mad and he will be mad at you for giving him this advice of investing the money in Bitcoin.

So, because of these reasons, I always prefer not advising people to make investments in cryptocurrencies or any volatile and unpredictable assets including Bitcoin. If they do it themselves, well and good, but if they ask me, I will tell them straightforward that Bitcoin is good but it has its risks, so do your research before you do anything.

[CageMabok]

If what you’re saying is that he should use a fraction of what the company has, then that makes sense. But if you’re just advising him to invest everything then I don’t think it’s a good idea because the company should have its own funds and not use all of it on investments. Also, just leave him with the advice. If his thoughts keep telling him not to invest it, then don’t talk about it anymore. This is just in case it happens that there’s a price dump tomorrow, you don’t have to be blamed.

Suggesting good things is not wrong for anyone, but when it comes to giving advice, there is no need for pressure that is so excessive that it can disturb someone's thoughts. Because everyone still needs to think after receiving advice from others in order to make a little evaluation with the funds they have, because it is true as you said that we don't need to tell them to invest everything in anything. If those who receive advice still have to take care of the funds they currently have because the funds from the company must be clear and well maintained so as not to make the company go bankrupt when bad things happen.

[Ryu_Ar1]

I don't recommend it if it's a holding company that was inherited from his parents because even though being in bitcoin is a good thing but don't involve any form of business to bitcoin let alone try to follow what Saylor did because in the end we don't know how your friend's company is running because what Saylor did was proportional to the stability of his company but what if your friend's company is not as good and stable as that because it will only make your friend bother himself in the end.

I agree that in the end bitcoin can be one of the good investment options but if you are too imposing just because you see rich people like Saylor who become bitcoin maximalists, in the end we will not be able to follow it especially if the company funds are not that much in cash flow.

[_BlackStar]

I can say your financial advice is quite good so far - but have you considered your friend as someone who has the ability to make wise decisions regarding finances and investments?

Let's say your friend has $1M in his father's company savings in the bank - that's the only source of finance for the company he runs. If your friend is interested in investing only because Saylor made huge profits from bitcoin - then is he ready to face the consequences if his expectations do not match reality?

Bitcoin is certainly worth considering as an investment asset that has performed well so far - but its price volatility is likely to unbalance the company on its balance sheet. 20% of the company's total budget is probably still okay to invest - but if the percentage is higher, then the risk will also be worth it. But of course - with the right strategy.

[MarjorieZimmermanGinger]

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.

This is complicated and if we are trying to describe a company your friend should not take over the company because his parents are old. We also have to know whether he previously worked in the same sector or whether he was already in that company.

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.

What field does the company operate in and what financial resources did they manage previously? You shouldn't misrepresent MicroStrategy's success because different environments are definitely not the same. In fact, when he insists on doing what you suggest and when he doesn't understand Bitcoin, it will make his father's company even more chaotic.

Understand first how his father managed the company because his style may be different from the advice you are trying to give. It's even worse if your friend doesn't understand Bitcoin and when he tries to practice it will be much more difficult to develop. You have the right to make suggestions but he should make decisions based on his father's considerations and direction.

[Humblevirus]

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.

Bitcoin has proven to be a very good investment, according to its history, so investing is a good idea. But if someone wants to invest in Bitcoin, it is advisable to use the money that is not ready to use in the near future due to the volatile nature of Bitcoin. The price is always up and down; if someone invests the money that it may use in a closer time, the price may be down that time you want to use it, and selling it at that time may turn out to be a loss. But investing the money someone will not use in a closer time can really help to hold onto bitcoin for a long period of time, like experiencing one or two bull runs before planning to sell it and by time someone should make profits.
 
So given your friend advise to invest company money in bitcoin is not a good idea, I see it at risky. company need some reasonable amount for backing up, the money in the bank account may not have anything doing there according him  but true that money may save good purpose later if anything happen to the company, your friend just take over the company it may not understand how many things are being running in the company, so if your friend invested all those money in the bank account to Bitcoin and some problem later rise in the company and the Bitcoin price was down that time. how will it do, your friend can invest his own personal money that it can afford to lose but investing company money it is big risk. 

[Yatsan]

Well, given that we are in this industry, we know how profitable Bitcoin is as a digital currency and how profitable it is especially during bull market. However, running a company is just different and that funds of it should be properly alloted. Obviously, Bitcoin's market price is volatile; if the company will be in a sudden in need of money for maintenance and other necessities, and the price of Bitcoin  happened to be down by that moment, How would he resolve the situation? It is good that you give him an advice or suggestion because that's his primary need based on the scenario. It will still depend into him whether he would choose to do so or not to. He should just take consideration that he is running a business and adding a risk to a risk will be tricky on his end.

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.

In short-term you're probably right about giving that advice but in the long-term, there's a possibility that the business would see some unforeseeable events that could lead to something really bad which would end up with you having nothing but the chances of being blamed. I think that you need a spare money that's never moved or meddled in any way in a business because expenses that aren't expected are expensive especially with business not to mention that the foreseeable things that might happen is even higher because your friend took over a company and we all know how it feels when it comes to changes in the management, a lot of people would have a hard time adjusting and some might not even like the new management that could lead to them quitting which is a big possibility.

If he happened to follow this advice, he could easily do a short term and long term action, however profit will never be assured. But what's best to do is to ask from who he inheritted it from for what's best to do if that person is still alive 'coz for sure he would know what's best for that company.

[justdimin]

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 would say that is not a bad investment advice, he could definitely do well, but what we need to remember is that companies may need urgent money and that means if he puts the money in bitcoin and urgently need some money he will have to cash out his bitcoin and if bitcoin is down at that moment then it would be a bad idea.

What Microstrategy does is not putting ALL their cash into bitcoin, they do have some in bitcoin and some in other stuff, but they do have liquidity that allows them to do fine, which is why I believe that they are not going to end up with any trouble. If your friend puts 50% of the cash into bitcoin that would be better, keep the other 50% in something simple, like interest, that way he will be fine.

[Frankolala]

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.

You should only tell people about bitcoin, and allow them to make their decisions if they will invest or not so that if things didn't work as expected, you will not be the one to be blamed. You don't need to use MicroStrategy as an example to him, because Micheal Saylor is the owner of his company, and he understands how bitcoin works before he started buying. MicroStrategy must have all called some business experts and get advice from them before he took the bold step of investing part of MicroStrategy funds into bitcoin investment.

Your friend lack business management, and I believe that he is new in running his father's company, which makes him not yet knowledgeable on how to manage the company's funds. This is why you don't need to advice him to use the company's funds to invest in bitcoin, because company needs funds to keep the company running incase they are faced with big challenges that can affect their productivity. Your friend is a novice to bitcoin and should not bother investing with the company's funds, until he has understand the in an out of the company funds management.

If he must invest, let him use only 10% of the company's funds, because bitcoin investment is a long term thing.

[KiaKia]

Don’t ever give any financial advice to anyone. If the advice turned into profitable, then they will praise you, but by chance , if it ends in loss, then they will be the one who will blame you. Hence you can give suggestions, but don’t financially advise them. It’s their own money, hence they should be responsible for where to invest or where to not. As a second person you should always avoid these types of situations.

I've landed myself in similar situations before and till today I am still blaming myself for even sticking my neck out for someone in such way.

You can never know people completely, even if you spend a lot of time together, it's a whole new experience if it involves money, I was helping this person but it was a very big mistake.

To make passive income through crypto I invested some money on mining, and friends and family do love the idea of making a few dollars every day so they started to disturb me, saying they wanted to do the same, at first I tried to avoid them but later I started hearing rumour that I don't want anyone to rise up like I did.

I went ahead and helped a brother, he had not much idea about setting up the rigs and I helped him, we went to local store together to buy the needy hardwares but in the end they got faulty even before he made his ROI back, he got pissed and he forget about all the warnings I gave him, he still start saying things about me, putting all the blame on my head.

Since that day I have learned to always maintain my lane, the risks you can take can be too heavy for others, do not stick your neck out for anyone even when they are begging you to, someone humans just can't withstand losses.

[betswift]

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.

Your advice about investing in Bitcoin, inspired by MicroStrategy's approach, has proven successful for MicroStrategy itself, which saw a 116% gain and a portfolio increase to $13.2 billion. This strategy positioned MicroStrategy as a leading corporate adopter of Bitcoin, significantly benefiting from the digital asset's potential.
However, investing in Bitcoin or any cryptocurrency carries risks, including market volatility. It's crucial for your friend to consider these factors and possibly consult with a financial advisor before making such investments..

[Ultegra134]

I've landed myself in similar situations before and till today I am still blaming myself for even sticking my neck out for someone in such way.

You can never know people completely, even if you spend a lot of time together, it's a whole new experience if it involves money, I was helping this person but it was a very big mistake.

To make passive income through crypto I invested some money on mining, and friends and family do love the idea of making a few dollars every day so they started to disturb me, saying they wanted to do the same, at first I tried to avoid them but later I started hearing rumour that I don't want anyone to rise up like I did.

I went ahead and helped a brother, he had not much idea about setting up the rigs and I helped him, we went to local store together to buy the needy hardwares but in the end they got faulty even before he made his ROI back, he got pissed and he forget about all the warnings I gave him, he still start saying things about me, putting all the blame on my head.

Since that day I have learned to always maintain my lane, the risks you can take can be too heavy for others, do not stick your neck out for anyone even when they are begging you to, someone humans just can't withstand losses.

That's exactly how I feel. Even though the OP didn't give him bad advice, from how I see things, he could have avoided getting into details and should have stuck to the fact that money sitting on a bank account is losing value and perhaps offered a few sources on what to look for. I'm not saying that the OP was wrong in any way; it's just that people don't tend to take responsibility for their own mistakes and usually want to blame someone else for their misfortune. I've had my fair share of experiences that didn't necessarily only involve crypto, and I currently prefer to avoid having these conversations. I prefer to mind my own business and provide generic advice if someone is persisting.

[Bravut]

You gave him an advice to invest in Bitcoin, rather than providing a possible investment options which gives room for him to choose and make his decision. When it comes to investment everyone should be entitled to there own opinion, don't think how your friend, relative or anyone should invest. Your own role should be giving an idea which you think can work not how they go about risking there money into the investment.

He doesn't necessarily need to invest in Bitcoin, there are several options, investing  in Bitcoin requires patience and a long term view, of which you ain't sure about how long he could hold and stay unfazed in such volatile market.

In a Nutshell let him decide for himself and the best opinion you could offer  would have been him re-investing those money back into the company which will be of great benefit since he would soon take over, thus expanding the business and taking the passive or reserve gotten overtime, then he can diversify.

[Woodie]

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.

Personally I say this wasn't sound advice considering you telling your buddy to mix company business with personal business which is wrong! If your friend wants to take extra investments or diversify his portfolio in things such as crypto, better he does this from his personal pay because time will come to make a big investment such as non current assets and funds won't be available how will he explain this...and by him taking over the operations of the company does that mean his also the accountant managing the companies finances??? Anyway I know you mean well but don't mix business with pleasure/friendship, just draw that line and you will be okay.

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.

Don't mix friendship with business, for me bad advice...if he wants to invest in crypto let hisms use his salary to do so...if he so needs to use that money improve the company, let him have new assets acquired such as a utility vehicle, buildings painted, or acquire new office space to expand to help write his legacy...

[JunaidAzizi]

As a friend, you did the right thing by giving your friend advice. It's a generous quality that many people lack. However, I don't think your advice is suitable for your friend or yourself. Your intention is good as you want your friend to make more money, but suggesting that your friend should invest the company's money in Bitcoin is not wise. Instead, you can explain to your friend the investment plan to invest his own money in Bitcoin and tell him about its strength and potential. Bitcoin is highly volatile and its prices change frequently. If your friend invests the company's money on your advice and faces losses, he will blame you for it, and the company may suffer.

[Lanatsa]

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.

Its not really that bad to make out some recommendations, the only thing that you shouldnt do is not to make out some guarantees about that sure profits and always that mentions about the risks.
Somewhat its impossible that your friend isnt aware of the risks involved when dealing up with any investment which it isnt really that only talking about Crypto/Bitcoin but also in other options as well.
It would really be that so hard on making yourself that handling a company which inherited of yours and since that there are some extra money that is sleeping on the bank then i would definitely be thinking about using of those funds on trying to have that expansion or doing other physical business that i could make on. This is what i do prefer on doing so.

Next, i would really be reconsidering on making investment with crypto which we know that diversification would really be that always best because once the other one investment
fails then you do have the back up. So the more the better as always.

[Makus]

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.

Op, irrespective of the fact that you told your friend about Bitcoin and gave him the merits of Bitcoin investment, it would have been better if you also talk to him about the demerits of Bitcoin investment so that, he would not put all the blame on if any thing goes wrong. Because most times due to lack of enough knowledge, some beginner make the mistake of having a consciousness of trading rather than investing for long term and after all their experience with the loss encountered they begin to put the blame on you who taught you were doing them good.

I know so many persons would disagree, but before you invest in Bitcoin I advise that you have a concrete knowledge of the basics of Bitcoin investment. Basic term like Bitcoin network, Blockchain, wallet, seed phrase.....  It's better to know what you are getting your self into than to make your moves based on  hope or other people's consent. I believe this is were "knowledge is better than Faith" can be applicable.

[AYOBA]

offering advise to friends is usually a good idea, but occasionally you also need to exercise extreme caution to avoid offering a buddy bad advice before you do so. However, as he is the one who approached you, he assumed control of his father's business because he was already elderly and realized that there was an excessive amount of money in his account that was sitting idle. If I were to give him any advise, the first thing I would say would be to take over his father's business how force him to supply the resources that company needs to make the company stay afloat.

After that, I would advise him to consider starting a different company that will provide more revenue for stucco. It's also a fantastic idea that you suggest he buy Bitcoin. He can make a ton of money if he follows your suggestion and invests a portion of that cash in Bitcoin, holding it for an extended length of time.

[kawetsriyanto]

You actually only need to tell him about another way of investment. But you never advice him or even force him to invest in Bitcoin. Let him decide himself whether he wants to invest or not. It is not easy to handle the financial of a company. We can't compare MicroStrategy and his company. It is probably too much different.

If you advice him, he has the right to blame you when he fails in Bitcoin investment. But if you only tell him a successful company in Bitcoin investment without giving any advice, you have no responsibility even if he fails in the future. TBH, I won't advice him to invest if I were you. I prefer to tell him about some successful companies in Bitcoin industry.

[cr1776]

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.

Where is he located?  People in Cyprus in 2010-early 2013 would've done well to put their money in bitcoin, not just because of the MSTR effect, but because they locked down the banking system in March 2013.  Then stole a huge percentage of their assets.  (They called it a haircut, but it was theft.)   Bitcoin would've preserved their wealth.

Is your friend in a country with high inflation?  Capital controls?  Statists (socialist, communist, dictators etc) in control?  

So yes, he could have a good use case.  Not to mention the potential for appreciation.

[milewilda]

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.

Just tell him if ever he would decide on making some investment in Bitcoin then it would be always that recommended on investing on the amount that he can only afford to lose and never ever make himself that too optimistic or way too positive towards its investment because we dont know on when Bitcoins price would really be shooting up into the moon and we do know that market does really have that market shifts
whether in a bull run or bearish run period on which its really that something hard to handle up your emotions on the time that you are really that too positive but the price had gone down southward.

I do agree into those words above that the only thing that you shouldnt really be doing is that you wont really be giving any guarantees or having that sure words about making profits
so that your friend wont really be ending up on suing or blaming you once they've seen that their portfolio is on deep reds. Invest on what he can afford to lose as always as this one would really be
the main thing that you should really be expecting when someone do make out some suggestion but in a very exaggerated way.

[Finestream]

I can say your financial advice is quite good so far - but have you considered your friend as someone who has the ability to make wise decisions regarding finances and investments?

Let's say your friend has $1M in his father's company savings in the bank - that's the only source of finance for the company he runs. If your friend is interested in investing only because Saylor made huge profits from bitcoin - then is he ready to face the consequences if his expectations do not match reality?

Bitcoin is certainly worth considering as an investment asset that has performed well so far - but its price volatility is likely to unbalance the company on its balance sheet. 20% of the company's total budget is probably still okay to invest - but if the percentage is higher, then the risk will also be worth it. But of course - with the right strategy.

While bitcoin is highly profitable and valuable investment, but it can also be a worst nightmare if you invest in it blindly. The reason why I don't really advise people to invest their funds into bitcoin as if it can guarantee financial freedom and huge profitability throughout the process. Unless if they made their own decision to invest because they have known bitcoin so well, for that bitcoin is the perfect choice of investment as long as its manage well and cautiously.

[Sanitough]

You actually only need to tell him about another way of investment. But you never advice him or even force him to invest in Bitcoin. Let him decide himself whether he wants to invest or not. It is not easy to handle the financial of a company. We can't compare MicroStrategy and his company. It is probably too much different.

If you advice him, he has the right to blame you when he fails in Bitcoin investment. But if you only tell him a successful company in Bitcoin investment without giving any advice, you have no responsibility even if he fails in the future. TBH, I won't advice him to invest if I were you. I prefer to tell him about some successful companies in Bitcoin industry.

You can always tell your friend how profitable bitcoin investment is, but you can't lead him on his decision where to invest or if he's really interested to invest those money sleeping in the bank. This is to avoid putting you in a dangerous situation because if your friend follows your financial advice, and eventually fail in the long run, then you will be held responsible of his losses, simply because you were the one who introduced him to bitcoin. You can encourage him to research about bitcoin but you can never tell him to forcefully invest on it.

[Maslate]

If your friends really sure if the cash on banks won't be touched for long time because he already set aside money that will be for emergency needs, then it's not wrong to invest the money rather than leave it on banks.

If I were you, I would advise him to invest his money without mentioning which assets he need to buy because each person has different risk tolerance, knowledge and experience. Even he keep asking which asset that I invest or he should buy, I will not answer.

You can suggest him to try bitcoin but make it clear to him that investment in bitcoin brings a lot of risk, so that's up to him if he will pursue investing or not. That way, he will consider researching in bitcoin as much as he could if he thinks bitcoin makes a potential investment, or he can always disregard bitcoin if his trust and confidence is not that strong and still doubtful to invest.

[GideonGono]

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.

You should also advice him about the risk of investing in crypto, don't just point out the profit they should also be aware of the risk.
Whenever we are going to give out an advice on investment always include the cons not just the pros of it.
We as a crypto earner should be aware of how the reality works, it isn't always about the successful stories or achievements we should also include the challenge they faced before achieving it.

[HelliumZ]

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.

You can't ask a business to invest all its capital in bitcoins because there's a whole lot of risk involved. When all the capital of a business is invested in Bitcoin, if for some reason the Bitcoin investment is lost or hacked, then all the investment will be wiped out, in which case the investor will likely go bankrupt. So business profit you can suggest to invest in bitcoin otherwise I will not support to invest in bitcoin with all the capital. I consider your suggestion to be entirely unreasonable at present, and I assume it to be in a danger zone.

[freedomgo]

I can say your financial advice is quite good so far - but have you considered your friend as someone who has the ability to make wise decisions regarding finances and investments?

Let's say your friend has $1M in his father's company savings in the bank - that's the only source of finance for the company he runs. If your friend is interested in investing only because Saylor made huge profits from bitcoin - then is he ready to face the consequences if his expectations do not match reality?

Bitcoin is certainly worth considering as an investment asset that has performed well so far - but its price volatility is likely to unbalance the company on its balance sheet. 20% of the company's total budget is probably still okay to invest - but if the percentage is higher, then the risk will also be worth it. But of course - with the right strategy.

I have no doubts with bitcoin potentials but it's a different story already when you are advising your friend to put the company's money into bitcoin. That's a very risky decision to make. It would be good instead if he will use his own hard-earned funds to invest partially in bitcoin, but considering the whole funds that have been saved in a bank, I believe you have already crossed the line if you make him force to invest in bitcoin. Although I have high hopes that bitcoin is quite a safe haven but seeing how volatile and unpredictable its future price will be, then I don't think giving him finances advice is a good thing.

[Solokan]

Indeed, if, for example, your friend saves money in the bank for the long term, that money will have the potential to be exposed to inflation, of course this is different from money invested in gold, which of course has the potential not to be exposed to inflation.

Personally, in my opinion, you don't need to advise your friend because if for example he is interested and the money in the bank is used to buy BTC, then I'm afraid that one day, for example, after your friend buys BTC, the price of BTC drops, he panics and sells his BTC and in the end your friend Suffering a loss.

In my opinion, if we invest in BTC then we have to use money that is ready to be lost, because your friend's money that is stored in the bank is of course money from your friend's father and your friend is not necessarily ready to experience a loss. if for example he experiences a loss due to investing in BTC I'm afraid your friend will blame you. If your friend uses it to invest in BTC, I think it's too risky unless your friend is ready to lose money due to investing in BTC

But if your friend's money is used to invest in gold, I don't think it will be high risk and will avoid inflation.

I think investing in BTC is a good thing and has the potential to be good for the future, but of course we have to use money that is ready to be lost.

[Muchiratsky]

You actually only need to tell him about another way of investment. But you never advice him or even force him to invest in Bitcoin. Let him decide himself whether he wants to invest or not. It is not easy to handle the financial of a company. We can't compare MicroStrategy and his company. It is probably too much different.

If you advice him, he has the right to blame you when he fails in Bitcoin investment. But if you only tell him a successful company in Bitcoin investment without giving any advice, you have no responsibility even if he fails in the future. TBH, I won't advice him to invest if I were you. I prefer to tell him about some successful companies in Bitcoin industry.

You can always tell your friend how profitable bitcoin investment is, but you can't lead him on his decision where to invest or if he's really interested to invest those money sleeping in the bank. This is to avoid putting you in a dangerous situation because if your friend follows your financial advice, and eventually fail in the long run, then you will be held responsible of his losses, simply because you were the one who introduced him to bitcoin. You can encourage him to research about bitcoin but you can never tell him to forcefully invest on it.

Probably the best is to just give the benefits and downsides of investing in Bitcoin. It's only an advice so it'll be up to them but sometimes, it can be really appealing, especially for first-timers thinking that it's going to be an easy investment. If you look back, people who made money from BTC and Crypto were those who had the capacity to hold on to their assets regardless of the market's extreme movements. Imagine investing a big amount of money that was handed over to you and then seeing your investment plunge deeply below its original value. Panic is sure to follow and losing money would not be far behind. I think its better to have them consider BTC as an option after they're aware of what they can lose.

[gunhell16]

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.

Just tell him if ever he would decide on making some investment in Bitcoin then it would be always that recommended on investing on the amount that he can only afford to lose and never ever make himself that too optimistic or way too positive towards its investment because we dont know on when Bitcoins price would really be shooting up into the moon and we do know that market does really have that market shifts
whether in a bull run or bearish run period on which its really that something hard to handle up your emotions on the time that you are really that too positive but the price had gone down southward.

I do agree into those words above that the only thing that you shouldnt really be doing is that you wont really be giving any guarantees or having that sure words about making profits
so that your friend wont really be ending up on suing or blaming you once they've seen that their portfolio is on deep reds. Invest on what he can afford to lose as always as this one would really be
the main thing that you should really be expecting when someone do make out some suggestion but in a very exaggerated way.

Agreed. I second the motion. Let him let his friend discover the beauty of Bitcoin. It's okay for us to tell him to take a look and learn about bitcoin and what it can help in any form of business. It is certain that he will know that many business owners and companies recognize Bitcoin.

And for sure, he himself will have curiosity as to why other big business companies are interested in adopting Bitcoin, and that's when he will make a decision on whether he will invest or not.

[BALIK]

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.

You can't ask a business to invest all its capital in bitcoins because there's a whole lot of risk involved. When all the capital of a business is invested in Bitcoin, if for some reason the Bitcoin investment is lost or hacked, then all the investment will be wiped out, in which case the investor will likely go bankrupt. So business profit you can suggest to invest in bitcoin otherwise I will not support to invest in bitcoin with all the capital. I consider your suggestion to be entirely unreasonable at present, and I assume it to be in a danger zone.

I wouldn't hesitate to say that OP's suggestion to his friend to take the company budget and invest in a volatile asset like bitcoin is actually bad advice. Most people are blinded by just looking at the profits that bitcoin brings without realizing that bitcoin also has unpredictable risks. No investment can bring high profits but is safe and bitcoin is no exception.

I'm a bitcoin investor, but if given a choice between running a business with steady revenue and investing in bitcoin, I'd choose to run a business. Bitcoin is just the hope of many people who have small capital in hand and wish to become rich or make miracles out of it. As for those who already have a large amount of capital or are running a business with a stable income, they need to have a suitable investment plan and should not focus entirely on bitcoin, a volatil asset and risk.

[FortuneFollower]

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.

You can't ask a business to invest all its capital in bitcoins because there's a whole lot of risk involved. When all the capital of a business is invested in Bitcoin, if for some reason the Bitcoin investment is lost or hacked, then all the investment will be wiped out, in which case the investor will likely go bankrupt. So business profit you can suggest to invest in bitcoin otherwise I will not support to invest in bitcoin with all the capital. I consider your suggestion to be entirely unreasonable at present, and I assume it to be in a danger zone.

I wouldn't hesitate to say that OP's suggestion to his friend to take the company budget and invest in a volatile asset like bitcoin is actually bad advice. Most people are blinded by just looking at the profits that bitcoin brings without realizing that bitcoin also has unpredictable risks. No investment can bring high profits but is safe and bitcoin is no exception.

I'm a bitcoin investor, but if given a choice between running a business with steady revenue and investing in bitcoin, I'd choose to run a business. Bitcoin is just the hope of many people who have small capital in hand and wish to become rich or make miracles out of it. As for those who already have a large amount of capital or are running a business with a stable income, they need to have a suitable investment plan and should not focus entirely on bitcoin, a volatil asset and risk.

I agree, that advice doesn’t sound good. Putting company money into Bitcoin or anything that can go up and down a lot is really risky. Bitcoin can make a lot of money, but you can also lose a lot quickly. Its better to keep running a business that makes money regularly than to bet it all on Bitcoin. For businesses with a steady income, its important to be careful and not just focus on risky things like Bitcoin.

[LesterD]

You can't ask a business to invest all its capital in bitcoins because there's a whole lot of risk involved. When all the capital of a business is invested in Bitcoin, if for some reason the Bitcoin investment is lost or hacked, then all the investment will be wiped out, in which case the investor will likely go bankrupt. So business profit you can suggest to invest in bitcoin otherwise I will not support to invest in bitcoin with all the capital. I consider your suggestion to be entirely unreasonable at present, and I assume it to be in a danger zone.

I wouldn't hesitate to say that OP's suggestion to his friend to take the company budget and invest in a volatile asset like bitcoin is actually bad advice. Most people are blinded by just looking at the profits that bitcoin brings without realizing that bitcoin also has unpredictable risks. No investment can bring high profits but is safe and bitcoin is no exception.

I'm a bitcoin investor, but if given a choice between running a business with steady revenue and investing in bitcoin, I'd choose to run a business. Bitcoin is just the hope of many people who have small capital in hand and wish to become rich or make miracles out of it. As for those who already have a large amount of capital or are running a business with a stable income, they need to have a suitable investment plan and should not focus entirely on bitcoin, a volatil asset and risk.
[/quote]
That's like taking a risk and having a chance to make a profit or taking the risk and losing the money including the whole company. I will also do the same, the risk is too great, and I would rather keep running the company and have a stable running business than invest the money. If the guy insists on investing, he should use his own money and not the company's money, that's the best option.

[martinex]

If the financial capabilities of your friend's company are strong, I think it's okay to suggest to your friend to use idle funds to invest in BTC. But, the problem here is whether the company is ready for the highly fluctuating state of the crypto market later because it will be very different if what you are exemplifying is MicroStrategy which is a major player who is already proficient and very savvy in navigating the market.

I think what you have been working on is good but every company also has its own mission and specialization but if indeed they are familiar with this space, I think it will be one of the additional options in their trade expansion.

[DabsPoorVersion]

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.

Have you considered asking your friend what kind of company he took over, is it owned by his family, a stock company, or a corporation?

There's nothing wrong to suggest someone to invest the money that is stored in the bank. However, there are things you and your friend need to consider especially if that's the company's money. It might be reserved money for any possibility of something bad happening to the company, it might also be the money owned by a lot of people or those people who also have the ownership of the company.

It would be a mess if ever he took your advice, who would know what would be going to be the result of this action if any of the possibilities I mentioned occurred.

[HelliumZ]

If the financial capabilities of your friend's company are strong, I think it's okay to suggest to your friend to use idle funds to invest in BTC. But, the problem here is whether the company is ready for the highly fluctuating state of the crypto market later because it will be very different if what you are exemplifying is MicroStrategy which is a major player who is already proficient and very savvy in navigating the market.

I think what you have been working on is good but every company also has its own mission and specialization but if indeed they are familiar with this space, I think it will be one of the additional options in their trade expansion.

If the business condition of OP's friend's father is very bad and the company is about to close then there should be no problem in investing in Bitcoin with the remaining capital in that situation but if he has no interest in closing the business. In that case, it would be wise not to invest business capital in the volatile Bitcoin market. But noEven if the company is kept open and invests in Bitcoin, there will be a big problem because if the market is low, if there are any employees in the friend's business, then there will be a problem in paying them salary because if the market is low, then if the market is low, then there is no way to pay the employees of the company by selling Bitcoin in that low market. At one point the investment will be almost bankrupt.

[Gladitorcomeback]

There's nothing wrong to suggest someone to invest the money that is stored in the bank. However, there are things you and your friend need to consider especially if that's the company's money. It might be reserved money for any possibility of something bad happening to the company, it might also be the money owned by a lot of people or those people who also have the ownership of the company.

It would be a mess if ever he took your advice, who would know what would be going to be the result of this action if any of the possibilities I mentioned occurred.

It will be a bigger mess if the company has multiple stakeholders or partners and the money kept in the bank is a combined sum of all those partners. So if the guy managing the company invests that money in Bitcoin or cryptocurrencies, and if he can't time the trades well and incurs losses, that would mess everything up and the company can even go bankrupt or even shut down in a worst-case scenario.

A person needs to evaluate all the outcomes and possibilities before making such a decision, especially if they know that the money they are going to use for the investment isn't all theirs and they are going to be responsible for anything that happens to the funds in case there are losses.

[Smack That Ace]

If the financial capabilities of your friend's company are strong, I think it's okay to suggest to your friend to use idle funds to invest in BTC. But, the problem here is whether the company is ready for the highly fluctuating state of the crypto market later because it will be very different if what you are exemplifying is MicroStrategy which is a major player who is already proficient and very savvy in navigating the market.

I think what you have been working on is good but every company also has its own mission and specialization but if indeed they are familiar with this space, I think it will be one of the additional options in their trade expansion.

If the business condition of OP's friend's father is very bad and the company is about to close then there should be no problem in investing in Bitcoin with the remaining capital in that situation but if he has no interest in closing the business. In that case, it would be wise not to invest business capital in the volatile Bitcoin market. But noEven if the company is kept open and invests in Bitcoin, there will be a big problem because if the market is low, if there are any employees in the friend's business, then there will be a problem in paying them salary because if the market is low, then if the market is low, then there is no way to pay the employees of the company by selling Bitcoin in that low market. At one point the investment will be almost bankrupt.

If the company was about to close, why did his father give the company to him? Additionally, if the company is on the brink of bankruptcy, is it a wise idea to use cash reserves to invest in other areas? And is it too hasty?

If I were the OP, the first thing I would be interested in and want to know is does my friend know anything about bitcoin and is he interested in it? I won't waste time or try to give investment advice to someone who knows nothing about bitcoin. If I rush to tell him that he should invest in bitcoin, it will be like I am trying to hurt my friend, but I don't think there is any good intention towards them. Give them knowledge about bitcoin and it's up to them whether they invest or not. We are not in their shoes, we should not make decisions for them.

[dezoel]

I don't recommend it if it's a holding company that was inherited from his parents because even though being in bitcoin is a good thing but don't involve any form of business to bitcoin let alone try to follow what Saylor did because in the end we don't know how your friend's company is running because what Saylor did was proportional to the stability of his company but what if your friend's company is not as good and stable as that because it will only make your friend bother himself in the end.

It's not wise to follow the moves of big companies such as MicroStrategy because they have teams to manage every aspect of the company including the finances and how their investments should be done and they have advisors and everything who do analysis and research and then come up with finalized decisions whether they should invest in a certain thing or not, it's not as simple as one might think it is.

So as you said, I wouldn't recommend a small company investing in something just because they have seen a bigger company doing it and gaining success through it. The owner of the MicroStrategy company, Michael Saylor, is a big businessman and he knows what he is doing with his company's funds unlike the friend of OP who has no idea what he should do with the money kept in the bank.

[rachael9385]

Trading Bitcoin can be very risky at times and that is why we are advised to hold instead of trading. For a company like that, the only investment advice I'll give is if the money for investment is only coming from the profits the company gets rather than spending money to be used for other thing for investment due to the factor of time of usage of the other materials to be bought and used by the company. However Bitcoin is not a get rich quick scheme so, they might not make enough profit within a short period of time, like a month+.... Like I said earlier, money for investment must come from profit alone and they can do that by using the DCA method which is applicable to both big and small organizations or Investors.

[OgNasty]

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.

Well, the former CEO of MicroStrategy is selling shares as fast as he possibly can daily, so that should tell you something about whether or not you should invest or not in it...  He is using the funds to buy BTC, so if you were going to advise your friend of something, buying BTC would be the move.  However, after the recent gains even that is a massive risk to take with a traditional business.  Right now he/she could get close to 5% interest on any money sitting around.  That's a pretty damn good return with no risk.  That's what I'd advise them to do...  Maybe use the interest received to start building a Bitcoin position.

[Youngkhngdiddy]

It's not wise to follow the moves of big companies such as MicroStrategy because they have teams to manage every aspect of the company including the finances and how their investments should be done and they have advisors and everything who do analysis and research and then come up with finalized decisions whether they should invest in a certain thing or not, it's not as simple as one might think it is.

So as you said, I wouldn't recommend a small company investing in something just because they have seen a bigger company doing it and gaining success through it. The owner of the MicroStrategy company, Michael Saylor, is a big businessman and he knows what he is doing with his company's funds unlike the friend of OP who has no idea what he should do with the money kept in the bank.

 You made a valid point there mate, you can’t just jump on the trend just because everyone is doing it. MicroStrategy would have done their research very closely before they are heavily invested in bitcoin. The need to know that they are risk associated to investing in Bitcoin because anyone who has no idea about the knowledge of Bitcoin may suffer emotional setback and if cannot be managed properly might lead to lost of life. For someone who is  investing that such amount, he needs to even have a team who are well informed about the crypto world and have good knowledge about the stock market, we don’t know how the structure of the MicroStrategy company is because we are not there, so if you feel it is to just to jump into investing in bitcoin without knowing the in and out of the ecosystem then it’s a wrong choice of investment.
  However, I want to commend and give my respect to the OP at least for given is friend the  enlightenment about  bitcoin so it is left for his friend to do his research before investing. So as not to put the blame on his friend when the market goes against him. We all have some task to do on our part, we need to help spread the message of Bitcoin and crypto space to the world. That way we are bringing enlightenment to those with little knowledge and helping to spread the gospel of Bitcoin and crypto to the world.

[Obari]

You have a perfect advice but the challenge is, those he know about bitcoin and the cryptocurrency at large?
I think you should have told him to go learn about the industry and what he intends investing in, as this isn’t only safe for him, but also for you because at the long run, you wouldn’t be held responsible for any shortcomings if there be anyone.
Investing in bitcoin is a great option especially if one has the huge capacity in terms of cash to invest and let’s imagine someone has the capacity to own 10 bitcoins as at the price of $30k which means by now, the person should have been able to gain profit more than the invested amount. That’s crypto for you.

[Belarge]

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.

Everyone have a purpose to make it in life. Growing a company is not today's task and it will take hardwork and applied structural development of solid techniques for the purpose of growth and the last, a company ought to face hurdles coming their way and when this time comes, it's believed the firm is able to withstand such standing pressure. Investment should be made on our terms. You did the right thing but measuring a standard company with the ones that's just growing up does make a difference.

[kotajikikox]

You have a perfect advice but the challenge is, those he know about bitcoin and the cryptocurrency at large?
I think you should have told him to go learn about the industry and what he intends investing in, as this isn’t only safe for him, but also for you because at the long run, you wouldn’t be held responsible for any shortcomings if there be anyone.

If his friend just dives into investing without prior knowledge and research then maybe he isn’t fit to run a business.
All companies also invest in other companies but they do that without careful planning and studying. If he is running a company, for sure he has other employees that he could talk to about before making such a big decision.

I think as a friend you just offered a suggestion it is entirely up to him if he’d follow it or not.

[BALIK]

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.

You can't ask a business to invest all its capital in bitcoins because there's a whole lot of risk involved. When all the capital of a business is invested in Bitcoin, if for some reason the Bitcoin investment is lost or hacked, then all the investment will be wiped out, in which case the investor will likely go bankrupt. So business profit you can suggest to invest in bitcoin otherwise I will not support to invest in bitcoin with all the capital. I consider your suggestion to be entirely unreasonable at present, and I assume it to be in a danger zone.

I wouldn't hesitate to say that OP's suggestion to his friend to take the company budget and invest in a volatile asset like bitcoin is actually bad advice. Most people are blinded by just looking at the profits that bitcoin brings without realizing that bitcoin also has unpredictable risks. No investment can bring high profits but is safe and bitcoin is no exception.

I'm a bitcoin investor, but if given a choice between running a business with steady revenue and investing in bitcoin, I'd choose to run a business. Bitcoin is just the hope of many people who have small capital in hand and wish to become rich or make miracles out of it. As for those who already have a large amount of capital or are running a business with a stable income, they need to have a suitable investment plan and should not focus entirely on bitcoin, a volatil asset and risk.

I agree, that advice doesn’t sound good. Putting company money into Bitcoin or anything that can go up and down a lot is really risky. Bitcoin can make a lot of money, but you can also lose a lot quickly. Its better to keep running a business that makes money regularly than to bet it all on Bitcoin. For businesses with a steady income, its important to be careful and not just focus on risky things like Bitcoin.

What's even funnier is that OP compares a subsidiary to a large company like MicroStrategy, it seems like OP not only has never run a company but has also never taken the time to learn how it works for a company. Yes, MicroStrategy or Tesla are both investing in bitcoin but let's see how much of their capital is invested in bitcoin? The amount of capital they invested in btc is nothing compared to the entire capitalization of their company and if the bitcoin investment loses, it will not affect the company too much. We must give appropriate advice according to each person's circumstances, don't give advice without thinking that it could easily harm others.

[DabsPoorVersion]

It will be a bigger mess if the company has multiple stakeholders or partners and the money kept in the bank is a combined sum of all those partners. So if the guy managing the company invests that money in Bitcoin or cryptocurrencies, and if he can't time the trades well and incurs losses, that would mess everything up and the company can even go bankrupt or even shut down in a worst-case scenario.

A person needs to evaluate all the outcomes and possibilities before making such a decision, especially if they know that the money they are going to use for the investment isn't all theirs and they are going to be responsible for anything that happens to the funds in case there are losses.

Well, this guy who took over can't even move the money easily because it will surely notify the one who manages the funds of the company. That will be a mess, yes, but that might also be another reason they can get to the point where they need to face legal action for doing this.
Spending or using the money of the company will result in violating the contract they have. The money stored in the bank is simply not all owned by this guy if this is a company's money.

[DeathAngel]

I would tell him to invest in Bitcoin, there isn’t any need for the Microstrategy Bitcoin proxy. Just buy spot Bitcoin & hold, it will perform better over medium to long term than any fund like S&P500. I think we will see more & more businesses buying Bitcoin now but it'll probably be through Spot ETFs as companies will feel more confident doing that than buying & self custody themselves.

[2Pizza410000BTC]

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.

Bitcoin investing is risky and you should always accept it and move forward with it. I think it makes a lot of sense, and I also think it's irrational, to invest Bitcoin in companies where it's best to invest only the amount a person can afford to lose. Even then, if you can take the risk and go ahead with Bitcoin investment, the chances of success are very high, I say right now, or if you buy and hold in 2022 when the price of Bitcoin is between $15k to $17k, then Hughes would be in the right amount of success now. Now is the perfect time to invest in Bitcoin as our next bull market is just around the corner. If the bull run starts in the market Bitcoin will go higher which may be all time high but investing right now will also pay off.

[Obari]

You have a perfect advice but the challenge is, those he know about bitcoin and the cryptocurrency at large?
I think you should have told him to go learn about the industry and what he intends investing in, as this isn’t only safe for him, but also for you because at the long run, you wouldn’t be held responsible for any shortcomings if there be anyone.

If his friend just dives into investing without prior knowledge and research then maybe he isn’t fit to run a business.
All companies also invest in other companies but they do that without careful planning and studying. If he is running a company, for sure he has other employees that he could talk to about before making such a big decision.

I think as a friend you just offered a suggestion it is entirely up to him if he’d follow it or not.

I get your points mate and I also agree with you that as a friend, if you offer an advice or a suggestion, it is left for your friend to accept it or not but from the context of what the op wrote, it seems his friend just inherited the company and the wealth and diving into a project or an investment without a prior knowledge wouldn’t be a surprising thing as there might be a great influence by the adviser over his friend and you never can tell what next action he might take base on the suggestions given to him in quest to increase the company’s wealth.

[Wiwo]

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.

Investing in Bitcoin can potentially bring high returns, but it also carries significant risk due to its volatility. Your friend should carefully assess whether it aligns with his company's goals and risk tolerance. Diversification and understanding regulatory risks are important considerations. Consulting with financial advisors is advisable before making any investment decisions.

Aside from the risk of losing at instant anf having to wait a long term to witness the significant profits from bitcoin,  it still remains the best ifor of investment and at the same time savings for anyone looking foe long terms, but in this case the ops did not mentioned if the money was saved for the day to day running of the company,  or a cash flow that is like in excess profits.

But whichever ways,it depends on the friend investment mentality and his knowledge about Bitcoin as an alternative to fiat investment and also the advantages of bitcoin being an assets.

[MarjorieZimmermanGinger]

I get your points mate and I also agree with you that as a friend, if you offer an advice or a suggestion, it is left for your friend to accept it or not but from the context of what the op wrote, it seems his friend just inherited the company and the wealth and diving into a project or an investment without a prior knowledge wouldn’t be a surprising thing as there might be a great influence by the adviser over his friend and you never can tell what next action he might take base on the suggestions given to him in quest to increase the company’s wealth.

Our job is to give them advice so they don't make mistakes when investing, but all decisions are in their hands and the way they think about how to proceed with this advice is more relevant to their way of thinking. The context that OP is talking about is regarding switching companies and that is not an easy matter for him to do because if he makes the wrong decision his father's company could go bankrupt and giving investment advice is not a way if he doesn't understand.

If I to understand the meaning of the post then I would suggest that he consult with someone who better understands how to run a company. Because our advice may not necessarily provide good decisions for him because running a company is difficult and not the same as making an investment, so it will affect whether his company runs or not if we give the wrong input.

[serjent05]

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.

You could have suggested your friend to study the Bitcoin market but not directly told him to invest in it.  This way, your friend cannot blame you if ever his Bitcoin investment goes southward since we all know that Bitcoin cycle often goes up and down.

I believe your friend should realize how good Bitcoin investment is according to his own research (though you can give resources about Bitcoin market information for him to easily gather the information needed).

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.

As a Bitcoin believer I don't think your advice is wrong but to be on the safer side and avoid the blame, you could have suggested your friend to study the Bitcoin market and not directly tell him to invest his father's company fund into Bitcoin.

Our job is to give them advice so they don't make mistakes when investing, but all decisions are in their hands and the way they think about how to proceed with this advice is more relevant to their way of thinking. The context that OP is talking about is regarding switching companies and that is not an easy matter for him to do because if he makes the wrong decision his father's company could go bankrupt and giving investment advice is not a way if he doesn't understand.

No, I think it is not our job to advise people since we don't run a company that deals with such a matter.  We can only give suggestions because there might be instances that we might fell short of knowledge and things won't go as we advised so it is much better to be on the safer side and take on a lighter position by suggesting not advising people on what to do.

[BD Technical]

If I were you, I wouldn't understand the same way because I don't know how likely he is to get what you suggested.  But if I were him, I would definitely let him learn these things or study these things. What is the currency in Edit Coin Keep?  After explaining them, he could have been made active or his investment or his interest was aroused because he does not understand everything made of bitcoin or crypto currency or he did not invest these suddenly.  In that case, if he wants to invest these things, his general idea is that I should be in check and he will not be stressed because if he has these ideas then it will create stress on me and he will invest without understanding.  So he should be inboxed to do these things and study these things and do these things like me.

[mich]

Well I think we have to be very careful if we give our friends and family crypto investing advice. Investing in crypto is not like you are investing in anything else.
It is so volatile and it might not be best investment for first time investing. I do not like to give my friends investing advice.
My family member got mad at me when his Bitcoin was down and did panic sell. And now he tells me about this when I see him.

[Questat]

Well I think we have to be very careful if we give our friends and family crypto investing advice. Investing in crypto is not like you are investing in anything else.
It is so volatile and it might not be best investment for first time investing. I do not like to give my friends investing advice.
My family member got mad at me when his Bitcoin was down and did panic sell. And now he tells me about this when I see him.

Teaching them about Bitcoin is good enough but in the way of encouraging them to invest, that is another story. Yes, this is too risky, especially for beginners but they won't grow old and could not understand how this kind of investment works if we all make them not to try. Perhaps, there is no wrong about trying at least, they couldn't say that investing in crypto is too easy or even say it is a Ponzi scheme or scam. In fact, they have the choice of whether to try or ignore it.
It's up to them if they will take a risk at least we open their minds to some investment opportunities that can possibly change their life.

[Zoomic]

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.

Investing in Bitcoin is not a bad idea but before you advice anyone to invest in any high risk investment, be sure that they are emotionally ready and matured to handle whatever becomes the outcome of such investment.  Many people are like children at heart, the wonderful testimonies and stories you tell them about Bitcoin might excite them so much that they agree to invest without hesitation but when things don't go as they were told, they will cry and put all the blames on the person who introduced them to such investment.

You can save yourself the stress of being called out for the wrong reasons if peradventure his Bitcoin investment doesn't yield the returns he anticipated. Tell him about Bitcoin but do not fail to let him know the risks involved. Never you impose any investment idea on anyone, the decision to invest should be solely his after weighing the benefits and risks involved.

[Nothingtodo]

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.

Bitcoin is a risky investment, so I never recommend or advise anyone on this risky investment. If the person I advise invests in bitcoins and invests as I say, and the investment later suffers a loss, they can blame me for the loss. So I personally don't want to give honest advice on investing in Bitcoin. I don't think it is necessary to advise anyone who invests based on what he understands or knows.

[bettercrypto]

Well I think we have to be very careful if we give our friends and family crypto investing advice. Investing in crypto is not like you are investing in anything else.
It is so volatile and it might not be best investment for first time investing. I do not like to give my friends investing advice.
My family member got mad at me when his Bitcoin was down and did panic sell. And now he tells me about this when I see him.

That's why it's really important to explain the volatility of bitcoin correctly so that they can immediately see its risk, and at least in this case you can immediately see if they will invest or not.
But if they see the brighter side of Bitcoin, it is possible that they will invest in the end even if we say that the risk that it has is high.

We also know that Bitcoin is only one of the high risk assets, but even so there are still institutional investors who buy, the question is why?

[Ryu_Ar1]

Well I think we have to be very careful if we give our friends and family crypto investing advice. Investing in crypto is not like you are investing in anything else.
It is so volatile and it might not be best investment for first time investing. I do not like to give my friends investing advice.
My family member got mad at me when his Bitcoin was down and did panic sell. And now he tells me about this when I see him.

That's why it's really important to explain the volatility of bitcoin correctly so that they can immediately see its risk, and at least in this case you can immediately see if they will invest or not.
But if they see the brighter side of Bitcoin, it is possible that they will invest in the end even if we say that the risk that it has is high.

We also know that Bitcoin is only one of the high risk assets, but even so there are still institutional investors who buy, the question is why?

Still, it is risky if they are new people who are in the business world because they only inherited the company that was previously managed by their parents and changed the initial flow by switching directly to Crypto, of course it is a choice that can be wrong especially we don't know what the financial condition is like.

The situation that occurs is that we have to target that the financial scheme for the company must be a little difficult if we immediately force it to switch to bitcoin, especially if we only look at the microstrategy as a benchmark because after all it is too far away because the fact is that deciding it is not only us who take a role because of the fact that we also have to see other opinions that do exist in the company so it is impossible for us to decide unilaterally about big decisions like this because of course we realize that this decision determines the company's future so that we are aware that this decision is not only for the company but also for the company. determine the company in the future so we must consider further whether moving company funds to bitcoin in order to follow the microstrategy is a good condition or will actually create a polemic with other shareholders because in the end the results of all decisions certainly have consequences so don't just see that bitcoin can be profitable about the future but whether our company will survive or not if it uses the same options as the microstrategy later.

[thecodebear]

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 fine advice as long as you tell him about the four year market cycle so that he knows to expect a big crash in the next year or two, and that Bitcoin will likely come back down to current prices (or perhaps even lower) in like 18 months or so and stay there for a while. And he should only be doing this with money that they don't expect to need for operations of the company, pure extra savings. And also make sure he knows whatever financial rules there are around companies holding Bitcoin. And also tell him Bitcoin is very volatile so he shouldn't pay attention to price movements because only money to be invested long term should be put into Bitcoin.

If you do all that then it is fine advice.

[Ale88]

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.

You need to be extra careful when giving this type of advices because you don't know how the other person would react and what type of actions would take. If this family is not used to invest money (and since the money was sitting in the bank losing value I would say they are not) that means they don't know how markets work: things like volatility, risks, time... They don't know. If your friend now reads about MicroStrategy and decides to buy all at once several bitcoins using all the money and the following week bitcoin loses 20% and he sells at loss because he doesn't know what to do, he loses money, you lose a friend.

[bittraffic]

Convincing an old man will take a large community to make him say Yes. But even Peter Shciff who knows a lot about Bitcoin and blockchain are still a gold believer and will not make him invest in BTC even when he sees the price tank more than 3x since the day he said it's going to die.

I its still the old man who decides for the company, then its not likely going to work to convince them to invest in BTC. But you can still make your friends invest with his own money.

[MarjorieZimmermanGinger]

No, I think it is not our job to advise people since we don't run a company that deals with such a matter.  We can only give suggestions because there might be instances that we might fell short of knowledge and things won't go as we advised so it is much better to be on the safer side and take on a lighter position by suggesting not advising people on what to do.

We are talking in the context of a friend and even then the advice we are trying to give is not a final decision but rather a general idea to the friend. Because of all the decisions he takes, he should start looking for the point of truth with people who are much more competent in the field of company development. We are aware of the shortcomings we have and not everyone is knowledgeable about running a company so what we are trying to provide is only general input.

He must communicate with people who are much more competent in the field of business development, not look for solutions with people in forums. But because the OP asked this, we as forum users only try to provide input according to our own knowledge. This decision will be final for him and maybe he has communicated with people who understand how to develop the company.

[Iranus]

Well I think we have to be very careful if we give our friends and family crypto investing advice. Investing in crypto is not like you are investing in anything else.
It is so volatile and it might not be best investment for first time investing. I do not like to give my friends investing advice.
My family member got mad at me when his Bitcoin was down and did panic sell. And now he tells me about this when I see him.

That's why it's really important to explain the volatility of bitcoin correctly so that they can immediately see its risk, and at least in this case you can immediately see if they will invest or not.
But if they see the brighter side of Bitcoin, it is possible that they will invest in the end even if we say that the risk that it has is high.

We also know that Bitcoin is only one of the high risk assets, but even so there are still institutional investors who buy, the question is why?

Because they are investing money they can afford to lose, and even if their bitcoin investment fails, they will still have other ways to make that money back. Additionally, they have spent a lot of time learning all about bitcoin, they understand the benefits and risks they will face when investing in bitcoin, they do not invest in bitcoin just because of advice from others. There is a huge difference between large institutions investing in bitcoin and those who only invest in bitcoin on the advice of others.

[Gaza13]

Before going any further, I want to ask you something, before you tell me information about Bitcoin, does your friend know cryptocurrency or not? Investment-based? And that includes the risks

There's actually no harm in telling your friends, whether you tell your friends to buy bitcoin close to the halving in 7 days. It would be wise, for example, if you don't interfere with what just happened to your friend to buy Bitcoin, you can't compare your friend's company with MicroStrategy. Do you know how good your friend's company's financial cash flow system is?Learn to buy little by little from your friends' savings to buy their bitcoins, this is much better than involving your friends' efforts to buy these assets

[batang_bitcoin]

You can advise what you think is right but what you've advised for most was actually wrong. Don't do that. Don't compare any company to a bigger one if it's about their money or funds, it may sound brilliant and fun but it takes a lot of the company's effort and resources for them to invest. So, just don't do that if it's taking your friend the money of your company and you want him to bet for something that he might never know. And that's why I won't say like that to any friend that has a big company obligation.

[Blitzboy]

Well I think we have to be very careful if we give our friends and family crypto investing advice. Investing in crypto is not like you are investing in anything else.
It is so volatile and it might not be best investment for first time investing. I do not like to give my friends investing advice.
My family member got mad at me when his Bitcoin was down and did panic sell. And now he tells me about this when I see him.

That's why it's really important to explain the volatility of bitcoin correctly so that they can immediately see its risk, and at least in this case you can immediately see if they will invest or not.
But if they see the brighter side of Bitcoin, it is possible that they will invest in the end even if we say that the risk that it has is high.

We also know that Bitcoin is only one of the high risk assets, but even so there are still institutional investors who buy, the question is why?

Still, it is risky if they are new people who are in the business world because they only inherited the company that was previously managed by their parents and changed the initial flow by switching directly to Crypto, of course it is a choice that can be wrong especially we don't know what the financial condition is like.

The situation that occurs is that we have to target that the financial scheme for the company must be a little difficult if we immediately force it to switch to bitcoin, especially if we only look at the microstrategy as a benchmark because after all it is too far away because the fact is that deciding it is not only us who take a role because of the fact that we also have to see other opinions that do exist in the company so it is impossible for us to decide unilaterally about big decisions like this because of course we realize that this decision determines the company's future so that we are aware that this decision is not only for the company but also for the company. determine the company in the future so we must consider further whether moving company funds to bitcoin in order to follow the microstrategy is a good condition or will actually create a polemic with other shareholders because in the end the results of all decisions certainly have consequences so don't just see that bitcoin can be profitable about the future but whether our company will survive or not if it uses the same options as the microstrategy later.

you've got to make some tough calls. I get that moving old-school companies into the modern world is nuts. Folks worry about Bitcoin, see it as risky. But let me tell you, its not just a gamble - its the smart play for the future. Those who win see the big picture. Bitcoin's part of a new kind of money, and that changes everything.

Im not saying you go all-in on Bitcoin overnight. Thats reckless. But start small, add it to your investments bit by bit. Manage that risk, but also give yourself a chance at huge gains. The world's changing fast. Digital money isnt some fad. Its how business will be done, and you dont want to get left behind. So be bold, but be smart. That's what winners do.

[betswift]

No, I think it is not our job to advise people since we don't run a company that deals with such a matter.  We can only give suggestions because there might be instances that we might fell short of knowledge and things won't go as we advised so it is much better to be on the safer side and take on a lighter position by suggesting not advising people on what to do.

We are talking in the context of a friend and even then the advice we are trying to give is not a final decision but rather a general idea to the friend. Because of all the decisions he takes, he should start looking for the point of truth with people who are much more competent in the field of company development. We are aware of the shortcomings we have and not everyone is knowledgeable about running a company so what we are trying to provide is only general input.

He must communicate with people who are much more competent in the field of business development, not look for solutions with people in forums. But because the OP asked this, we as forum users only try to provide input according to our own knowledge. This decision will be final for him and maybe he has communicated with people who understand how to develop the company.

in grnrral, I agree that we should be cautious in how we frame our guidance, given our limited view and expertise. However, sometimes, all a friend needs is a starting point or a different perspective which can come from informal discussions like the ones we have here.
We can offer thoughts and general ideas without presenting them as expert advice, more like sharing experiences or brainstorming together. Ultimately, the person seeking advice should consider these inputs as just one part of a broader inquiry, ideally supplemented by professional view.

[Antotena]

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.

The advice that you gave him is not wrong but comparing Microstrategy and his father business is very risky because that's not exactly how Microstrategy has been investing the company money into Bitcoin, you forgot that everything you do has some risk involves.

Microstrategy has a liquidation and that means that when Bitcoin falls to some certain level, get are going to lose all their Bitcoin, last I read about it was that the Liquidation has been extended to $18k. Most of the Bitcoin you see him hold are ticking time bomb that can explode if not properly managed, I don't know If your friend has a back up when Bitcoin is not ready to sell. That money you think idle are what saves the company from debts sometimes, I will advice you to ask him if he has a back up when the company need funds in case of emergency before letting him to buy Bitcoin.

[Renampun]

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.

here you have saved your friend if he wants to follow your advice by buying bitcoin using cold money in the bank. saving too much money in fiat is like digging your own grave, inflation occurs every year so it is better to allocate the available money in bitcoin or gold to protect the value of money in the long term.

the current world economy is truly unpredictable, many businesses have closed because they are unable to compete and only those who secure their money by buying bitcoin or gold, can survive the uncertainty of the world economy.

[Yukyzu]

You can advise what you think is right but what you've advised for most was actually wrong. Don't do that. Don't compare any company to a bigger one if it's about their money or funds, it may sound brilliant and fun but it takes a lot of the company's effort and resources for them to invest. So, just don't do that if it's taking your friend the money of your company and you want him to bet for something that he might never know. And that's why I won't say like that to any friend that has a big company obligation.

Of course it is not equivalent if someone compares these two things because for companies that have sufficient funds it will certainly be easy to make investments if they wish, but for those who have funds that are only sufficient for the company's interests, of course it will be very impossible. to invest and the most important thing for them is only about the company where they work, using company funds for investment purposes is of course very dangerous and I agree with what you say, it is not good for us to bet on things that we don't know for sure what the results will be. we get and also for those who have responsibilities with their company, of course they must be able to run it well so that their company can run well.

[ancafe]

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.

And I'm sure your friend is not someone who is capable of running a company independently and if he insists on managing it, his father's company will become even more chaotic. It is not easy to develop a company and if someone does not have experience then he should look for other ways.

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.

Your advice is very risky and we never know how the company's finances are, so when he invests money the impact he receives will be much different. Comparing MicroStrategy with his father's company is completely irrelevant and we don't know how the company moves to fund employees, office needs or other unexpected costs.

Your advice is not wrong, but it is much riskier to do, especially if your friend doesn't know about investing. Giving this kind of advice can be dangerous for you because if he loses a lot of money while investing then you are the one who will be blamed.

[Marvell1]

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.

And I'm sure your friend is not someone who is capable of running a company independently and if he insists on managing it, his father's company will become even more chaotic. It is not easy to develop a company and if someone does not have experience then he should look for other ways.

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.

Your advice is very risky and we never know how the company's finances are, so when he invests money the impact he receives will be much different. Comparing MicroStrategy with his father's company is completely irrelevant and we don't know how the company moves to fund employees, office needs or other unexpected costs.

Your advice is not wrong, but it is much riskier to do, especially if your friend doesn't know about investing. Giving this kind of advice can be dangerous for you because if he loses a lot of money while investing then you are the one who will be blamed.

If you think OP knows nothing about his friend's company and makes a lame comparison between a small company and MicroStrategy. So how can you say OP's advice isn't wrong? Frankly, it's bad advice and the OP was only stating his thoughts and wishes, he never put himself in his friend's shoes to give the best advice. 

Personally, I think that if we do not have financial knowledge or experience, we should not give indiscriminate advice to others because sometimes it will harm them. Just because we are bitcoin investors doesn't mean we have enough knowledge to give anyone financial advice.

[YUriy1991]

Your advice is not wrong, but it is much riskier to do, especially if your friend doesn't know about investing. Giving this kind of advice can be dangerous for you because if he loses a lot of money while investing then you are the one who will be blamed.

True, the level of risk and one's knowledge about investment must also be considered if it is not a long story but if OP is able to control and always encourage the theme why not, but it is quite consuming and time-consuming and on the other hand we also want people around us to also feel the profit after investing whether later in BTC or others and in fact we also do not need to be flattered and thanked because we are sincere and sincere in help.

[Y3shot]

You can advise what you think is right but what you've advised for most was actually wrong. Don't do that. Don't compare any company to a bigger one if it's about their money or funds, it may sound brilliant and fun but it takes a lot of the company's effort and resources for them to invest. So, just don't do that if it's taking your friend the money of your company and you want him to bet for something that he might never know. And that's why I won't say like that to any friend that has a big company obligation.

The reason op made a suggestion on what is friend should do with the money is because the dude doesn't know how the money can be used for something that will be productive. When it comes to a situation like this one just need to be very careful with the advise they give so that they won't get into trouble just incase anything happens.  Some people are ready to take opinion of people when they have no idea on what to do but are not ready to learn to have understanding about what they are about to go into. OP"s friend needs to calm down and look into this to avoid some mistakes.

[GigaBit]

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.

Of course this can be a good suggestion. Because no one has ever been disappointed by investing in Bitcoin, especially those who are attracted to long-term investments. If he owns a small company then it is a better decision if he invests a portion of his company's profits in Bitcoin on a monthly or weekly basis. Moreover, those who own a lot of money or who have enough money to buy bitcoins, I think if they use that money to collect bitcoins, then after a certain period of time, he can use those bitcoins to take his company to a better level. To do this, the business owner must know some basic things about Bitcoin. In particular, it is very important to know how to hold Bitcoin and what level it can reach in the future. How to assure more security.

[Synchronice]

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 always think that every advice is okay, from absolutely everyone but it's your responsibility to analyze the advice and make a good choice. I think, your advice is perfect. As you said, he has money that's doing nothing in the bank, why should he waste money and let inflation in it when he can make a good investment and boost his capital that he can later use for growing company? Yes, advice is good.
By the way I know that you don't push someone but I'm saying this overall, for everyone. When you'll ever decide to give someone an advice don't push someone to do something, I mean, don't tell them like: hey, believe me, invest in it, you'll never regret. Just give advice and let them decide whatever they think is right, even if your heart tells you that it's wrong.

[Russlenat]

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.

You need to be extra careful when giving this type of advices because you don't know how the other person would react and what type of actions would take. If this family is not used to invest money (and since the money was sitting in the bank losing value I would say they are not) that means they don't know how markets work: things like volatility, risks, time... They don't know. If your friend now reads about MicroStrategy and decides to buy all at once several bitcoins using all the money and the following week bitcoin loses 20% and he sells at loss because he doesn't know what to do, he loses money, you lose a friend.

Bitcoin is risky and one who goes to invest without prior knowledge will certainly end up at loss. And even if he’ll make a quick research with bitcoin, that won’t be enough to finally invest in it and just think that it will surely make 2x or 3x your investment capital in due time. There is still no guarantee to end up profiting with bitcoin as we are still uncertain what will be its future price, so never advise a friend about investing into bitcoin, otherwise you’ll be held responsible of his future losses if ever.

[Bushdark]

It can be profitable if he invested the fund but at the same time he need to know how much he would be investing and understand how the cryptocurrency space really works because it is not easy for one to be seeing company's funds deprecating im value and still decided to hold. Maybe he can invest the left over in cryptocurrency but the marom profit or funds that could be used for something urgent.
It is very important we understand Bitcoin and how e are going to invest in it.

[dansus021]

So let me summarize you had a friend whose dad is old and own a pile of cash in the bank and a company right? Did your friend need advice from you or this is just your initiative. I mean if the business is running well you can use the money in the bank to grow the company without bitcoin. Just tell them there is bitcoin + and - of it and let him decide, if you friend think forward he might consider to buy some bitcoin

[Uhwuchukwu53]

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.

Though Bitcoin is a good investment plan right now, but you shouldn't make it look lik the only option out there .i don't think you should involve yourself in situations like this as it might not end up well. Even though Bitcoin is a good investment, some people who really don't understand how it works might take it as scam ones the price begins to dip. I would advice your to say off from his decision on what to invest with his families money. You can just give him some tips but dont get too involved in it. If he decides to invest that's his choice so that he will be the one to bear any risk that come with it

Yes truth been told human has always be inform of rationing blame when things are not the way they expected it mostly those that lack patient on a thing who always look for quick gain or profit of a thing and where the person can't be able to practice long term some of the advantages you told him during the advice he may not witness thereby you both may have issue at the end, another is the dip issue is not everyone that can bear to withstand the pressure of dip, some has been introduced into BTC investment but lack of patience have made them see the person who introduced them as enemies but some time they regret at the end. Your advice maybe good but presenting it as optional and voluntary is very important let him decide on its own.

[Gladitorcomeback]

So let me summarize you had a friend whose dad is old and own a pile of cash in the bank and a company right? Did your friend need advice from you or this is just your initiative. I mean if the business is running well you can use the money in the bank to grow the company without bitcoin. Just tell them there is bitcoin + and - of it and let him decide, if you friend think forward he might consider to buy some bitcoin

I mean, there is nothing wrong with providing advice but it is important to make sure that the person receiving advise understands all the risks and everything involved with the investment suggested. So if a person is suggesting Bitcoin investments to a friend for his company, he needs to tell him both the positive and negative consequences of the investment so that if things so south in the future, he doesn't get blamed for his suggestion.

If I was suggesting something as volatile and unpredictable as Bitcoin to my friend, I would tell him straightaway that I do have some investment advice but I want him to know that there are risks involved in it, and then I would urge him to do some research about it and decide for himself and I won't be responsible for anything negative that might happen if he makes an investment in it because it will be his own decision.

[Ale88]

So let me summarize you had a friend whose dad is old and own a pile of cash in the bank and a company right? Did your friend need advice from you or this is just your initiative. I mean if the business is running well you can use the money in the bank to grow the company without bitcoin. Just tell them there is bitcoin + and - of it and let him decide, if you friend think forward he might consider to buy some bitcoin

I mean, there is nothing wrong with providing advice but it is important to make sure that the person receiving advise understands all the risks and everything involved with the investment suggested. So if a person is suggesting Bitcoin investments to a friend for his company, he needs to tell him both the positive and negative consequences of the investment so that if things so south in the future, he doesn't get blamed for his suggestion.

If I was suggesting something as volatile and unpredictable as Bitcoin to my friend, I would tell him straightaway that I do have some investment advice but I want him to know that there are risks involved in it, and then I would urge him to do some research about it and decide for himself and I won't be responsible for anything negative that might happen if he makes an investment in it because it will be his own decision.

The point is that when you give some kind of financial advise to someone, especially a friend, to really have to stress about one thing: that person needs to do his own research. You need to give a hint, the first suggestion and a brief explanation of the reasons you think behind your choice of investing in bitcoin (or something else) but everyone is different so maybe a good reason for me could be a bad reason for you.

[Roser bouce]

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 don't think this is good advice. Because I think you didn't discuss the risk of bitcoin well with him. It's not just investing. It's not like buying bitcoin anytime. First you need to know what the market is up to about Bitcoin. Then if he shows interest, you can say. He can invest a part of his profit first to show how it is. Then if he shows interest and understands he can invest in bitcoins like him.

[teamsherry]

You do not need to give him this kind of advice. You can advice him about how bitcoin is a good investment and that he can invest in it, but do not take it to the level of involving his parent company. Let him be the one to make that thinking and decision by himself. If bitcoin price start falling after he invested his father company money on it, he will start to blame you, even though the price of bitcoin will later still increase above the price he started investing.

I so agree with you, there is a lot to take to notice which I'm not sure this friend may be ready for when investing in bitcoin, to invest in such a volatile asset you need to be prepared for loses and more over every investment has its risk and if he want to succeed as an investor it has to long term and he must use money he won't miss to invest in bitcoin, my reason is simple bitcoin should not be the main source of income of this company or the only asset they are holding.

[Lanatsa]

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.

Wont really be that bad for you to give out those kind of recommendations but make it sure that you wont really be able to forget about explaining about the certain risks. We do know that not all people would really be having that kind of risks management or choice and this is why if they do find out that on the time that you do explain about the possible risks and he isnt that confident about it then better not to force him.
Always a good thing about explaining it all about its pros and cons on which it would really be that be better to tell rather than on making him optimistic but ends up on making bad decisions and blaming
you out in the end of the day just because you have told him or giving out that kind of assurance. You wont really be that making yourself that getting avoided about the risks involved about the price.
Its true that it such a waste for your money to be idle in the bank but making yourself that in a rush on making investment without having that proper knowledge and experience then it would really be
something that regrettable.

[macson]

snip
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.

[AnonBitCoiner]

I so agree with you, there is a lot to take to notice which I'm not sure this friend may be ready for when investing in bitcoin, to invest in such a volatile asset you need to be prepared for loses and more over every investment has its risk and if he want to succeed as an investor it has to long term and he must use money he won't miss to invest in bitcoin, my reason is simple bitcoin should not be the main source of income of this company or the only asset they are holding.

if someone is investing in Bitcoin then he should also memorise its risk because we cannot neglect its risk and as its advantages are huge so its risk is also very huge. Many people just want to invest in bitcoin because they need money but to get money you have to use your money, expertise as well as your patience to be successful from such investment.

Main source means the regular flow of cash while Bitcoin does not provide you regular flow of cash but during its dumping phase it will put you at risk but it's up to you that you are waiting for recovery or cause this dump to drop your money. If you completely know about Bitcoin and strategies used for success then invest on time and don't wait for more dump as you don't know what is the lowest price ever.

[SeriouslyGiveaway]

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'm wondering if he doesn't need backup money to operate the company? I don't know what field his company operates in, but most companies need a certain amount of capital reserves to prevent risks as well as reinvest to expand and develop the company.

Using idle money to invest in Bitcoin is completely reasonable, but with company money is a different story. You also do not mention whether that money is his own money or the company's common money, and is subject to the control of other shareholders.

I think your comparison with MicroStrategy company is not reasonable, because the nature and scale of the company will be different. And MicroStrategy's use of its reserves to buy Bitcoin was approved by shareholders, and buying Bitcoin is part of their company development strategy. Thanks to buying Bitcoin, their stock price has skyrocketed, but is it appropriate for his father's company to buy this Bitcoin?

[Bravut]

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'm wondering if he doesn't need backup money to operate the company? I don't know what field his company operates in, but most companies need a certain amount of capital reserves to prevent risks as well as reinvest to expand and develop the company.

Using idle money to invest in Bitcoin is completely reasonable, but with company money is a different story. You also do not mention whether that money is his own money or the company's common money, and is subject to the control of other shareholders.

I think your comparison with MicroStrategy company is not reasonable, because the nature and scale of the company will be different. And MicroStrategy's use of its reserves to buy Bitcoin was approved by shareholders, and buying Bitcoin is part of their company development strategy. Thanks to buying Bitcoin, their stock price has skyrocketed, but is it appropriate for his father's company to buy this Bitcoin?

Exactly. I think buying of bitcoin will have come from a reserve fund not necessarily the money for company's development which would have been good for business growth and expansion. We don't just invest because we trust bitcoin will pump but with proper guidelines.
For me investing in Bitcoin for now is a NO, atleast improve on the company's performance and productivity. And ensure a steady growth before  thinking of diversifying.

MicroStrategy is more or less an investment company so using it as subject of comparison in relative to another company below its standard is unwise.

[Volimack]

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 don't think this is good advice. Because I think you didn't discuss the risk of bitcoin well with him. It's not just investing. It's not like buying bitcoin anytime. First you need to know what the market is up to about Bitcoin. Then if he shows interest, you can say. He can invest a part of his profit first to show how it is. Then if he shows interest and understands he can invest in bitcoins like him.

Yeah he has a good company and as long as he has money in the bank he can easily improve his company by using the money from the bank. The risk here is high if you don't know about bitcoin. First he should know and learn about bitcoin well before thinking of investing. Advice is a good idea but advice without proper knowledge is never effective.

[dansus021]

So let me summarize you had a friend whose dad is old and own a pile of cash in the bank and a company right? Did your friend need advice from you or this is just your initiative. I mean if the business is running well you can use the money in the bank to grow the company without bitcoin. Just tell them there is bitcoin + and - of it and let him decide, if you friend think forward he might consider to buy some bitcoin

I mean, there is nothing wrong with providing advice but it is important to make sure that the person receiving advise understands all the risks and everything involved with the investment suggested. So if a person is suggesting Bitcoin investments to a friend for his company, he needs to tell him both the positive and negative consequences of the investment so that if things so south in the future, he doesn't get blamed for his suggestion.

If I was suggesting something as volatile and unpredictable as Bitcoin to my friend, I would tell him straightaway that I do have some investment advice but I want him to know that there are risks involved in it, and then I would urge him to do some research about it and decide for himself and I won't be responsible for anything negative that might happen if he makes an investment in it because it will be his own decision.

it is important to make sure that the person receiving advise understands all the risks and everything involved with the investment suggested this is number one priority in my opinion tell him both the positive and negative consequences of the investment are also a good move

The point is that when you give some kind of financial advise to someone, especially a friend, to really have to stress about one thing: that person needs to do his own research. You need to give a hint, the first suggestion and a brief explanation of the reasons you think behind your choice of investing in bitcoin (or something else) but everyone is different so maybe a good reason for me could be a bad reason for you.

I agree with Ale that the person really need his own research first before go all in hence before he made any investment all we do is only give him a hint the good and the bad ane let he decide the final decision.

[Kristiyana]

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.

Well it would have been a good advice but when it has to do with companies fund, I don't think is good anymore reason is because anything can happen at any given time, and at this point the whole blame goes to you, that you wouldn't have come up with such plan in the first place, although bitcoin is very reliable and trusted but to advice someone to invest with the companies funds for me I Don't think is a good idea.

[Obari]

You do not need to give him this kind of advice. You can advice him about how bitcoin is a good investment and that he can invest in it, but do not take it to the level of involving his parent company. Let him be the one to make that thinking and decision by himself. If bitcoin price start falling after he invested his father company money on it, he will start to blame you, even though the price of bitcoin will later still increase above the price he started investing.

This response is from a typical African man who has learnt and seen a lot of things happen.
I strongly agree with everything you’ve said so far and I think with what you’ve said so far, there is absolutely no reason to directly tell someone what to do with their money as you (adviser) might be held response if anything goes wrong with that account and i agree with oshosondy, that you should rather introduce him to bitcoin and leave him with the sole decision to know if he’ll invest or not.

Bitcoin is a volatile asset and not everyone is emotionally matured to handle the stress and swings that comes with investing in crypto and this should also serve as a wake up call  for us not to direct people to use their money to invest in cryptocurrency especially if they can’t afford to lose.

[GbitG]

So let me summarize you had a friend whose dad is old and own a pile of cash in the bank and a company right? Did your friend need advice from you or this is just your initiative. I mean if the business is running well you can use the money in the bank to grow the company without bitcoin. Just tell them there is bitcoin + and - of it and let him decide, if you friend think forward he might consider to buy some bitcoin

I mean, there is nothing wrong with providing advice but it is important to make sure that the person receiving advise understands all the risks and everything involved with the investment suggested. So if a person is suggesting Bitcoin investments to a friend for his company, he needs to tell him both the positive and negative consequences of the investment so that if things so south in the future, he doesn't get blamed for his suggestion.

If I was suggesting something as volatile and unpredictable as Bitcoin to my friend, I would tell him straightaway that I do have some investment advice but I want him to know that there are risks involved in it, and then I would urge him to do some research about it and decide for himself and I won't be responsible for anything negative that might happen if he makes an investment in it because it will be his own decision.

it is important to make sure that the person receiving advise understands all the risks and everything involved with the investment suggested this is number one priority in my opinion tell him both the positive and negative consequences of the investment are also a good move

Sure, telling the pros and cons of a thing is the best priority. Meaning, before encouraging investment in Bitcoin, you should enrich it with good aspects as well as bad aspects because Bitcoin has a volatile nature, it has the ability to generate huge profits and high losses due to volatility. 
 
So it means to say that if you want to advise someone, foremost it is not right to give financial advice and even if you want to give advice to someone, first of all quote the pons cons of these assets, that is, it becomes your duty to tell him that Bitcoin is one of the best assets for investment but with this quality Bitcion is also high volital. Besides, if OP also tells his friend that he should invest money as much as he can afford to lose, which means that a person's life cannot be endangered by losing it, So this would be more appropriate advice.

DYOR!

[Zanab247]

You give your friend a good advise, because you have tested BTC investment to know what someone that invested a huge amount of money will going to achieve when the bull run occur to use the profit to boost his or her business like the way some people are using BTC investment to grow their business these days.

If your friend have the knowledge of BTC investment, I guess he will help his father to succeed in that company because those money his father use to deposit in the bank to stay long in the bank, it will stop because they will prefer to store the money in BTC and wait for bull run to come before they can sell to make a good profits.

Based on your explanation, I don't think your friend will regret for this advise because it will create more opportunities for their business to grow more than other businesses around the society.

[Kryss191]

You give your friend a good advise, because you have tested BTC investment to know what someone that invested a huge amount of money will going to achieve when the bull run occur to use the profit to boost his or her business like the way some people are using BTC investment to grow their business these days.

If your friend have the knowledge of BTC investment, I guess he will help his father to succeed in that company because those money his father use to deposit in the bank to stay long in the bank, it will stop because they will prefer to store the money in BTC and wait for bull run to come before they can sell to make a good profits.

Based on your explanation, I don't think your friend will regret for this advise because it will create more opportunities for their business to grow more than other businesses around the society.

No doubt! Passing on your BTC know-how to your friend is like giving them a golden ticket. If they share it with their dad and he starts investing in BTC instead of stashing cash in the bank, they could rake in some serious dough when the bull run happens. That extra cash could turbocharge their business growth big time. So yeah, it's a win-win move

[Orekelewa Ade]

I would say you shouldn’t have involved your self in telling him where to invest the money
Giving him the advice for investment was just okay you would have skipped the part of the exact place to invest on. Let him do the critical thinking of where to invest so as to be able to take the risk to himself knowing that he gave himself the idea of choosing where he invested … This is just my opinion 🤷🏼‍♀️

And again giving your friend an advice that you aren’t sure of is wrong , now you’ve given him advice to invest on Bitcoin and you’re here asking if that was a good idea. Makes no sense to me tho

[bSpend]

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.

Well, it's a very good advice, but all the same, you must also make him understand the risks involved, even though I particularly no longer consider investing in bitcoin as something that carries any degree of risk, because over time, bitcoin has proven to be a safe heaven indeed, all that matters is investing, and holding it for the long term, those who buy and hold for long term never lose, so far, this has proven over and over again by bitcoin itself.

So, in as much as I will also advice a Friend the same if I find myself in a position to advice him, I will also make him understand the risk, and let him know that the only way to bring that risk down and even to zero, is to invest the money in bitcoin with a mindset of holding those bitcoin for a very long time, minimum of 7 to 8 years actually, this way, there is some sort of guarantee that he will sell for profit when ever he wants to.

[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.

[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]

snip
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