Would you advise a friend in the same way?

[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.