Would you advise a friend in the same way?

[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.

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[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.