Would you advise a friend in the same way?

[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.

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[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.