Would you advise a friend in the same way?

[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.

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[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.