Would you advise a friend in the same way?

[dansus021]

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

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[Uhwuchukwu53]

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

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

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

[Gladitorcomeback]

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

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

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

[Ale88]

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

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

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

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

[Roser bouce]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

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

[teamsherry]

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

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

[Lanatsa]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

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

[macson]

snip
Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

i support what you are doing, continue to encourage your friend to invest in Bitcoin, don't give up, you have saved his life and also the company that his parents inherited for him.  Bitcoin has become a protector of asset value by many institutions and if your friend's company joins in, the value of the company's assets will likely increase from year to year.

but you have to accompany them because usually those who have never been involved in the world of bitcoin, will feel afraid when the market is bearish, beginners have a tendency to sell at a loss so always accompany your friend in their investment in bitcoin.

[AnonBitCoiner]

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

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

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

[SeriouslyGiveaway]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

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

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

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

[Bravut]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

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

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

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

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

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

[Volimack]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

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

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

[dansus021]

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

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

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

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

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

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

[Kristiyana]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

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

[Obari]

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

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

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

[GbitG]

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

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

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

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

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

DYOR!

[Zanab247]

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

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

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

[Kryss191]

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

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

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

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

[Orekelewa Ade]

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

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

[bSpend]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

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

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