Would you advise a friend in the same way?

[Ricardo11]

Never force your friend to invest in Bitcoin, you should only explain the benefits of Bitcoin to your friend, the risks and benefits of Bitcoin. Then let your friend decide independently, moreover, to invest in Bitcoin, you must first understand the basics of Bitcoin well. You tell your friend the basics of Bitcoin, like how to hold it, when it goes down and when it goes up, and what levels it might go to in the future. Let the decision be made her independently.

[bettercrypto]

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 just thought OP, you said your friend told the situation or situation of his life right now, so does he mean he asked for advice on what he should do with the bank's money? This is just my question., It's okay if you don't want to answer either.

When I saw what you did was as a friend you just reminded her and you just show that bitcoin is one of the main good investments in terms of long-term, but then just keep it in the bank it is better move it to bitcoin. Your advice is good and good, but it is better that he can see the potential of bitcoin, but if he trusts you well, he will have no problem because you have good advice to him.

[khalidkhan82118]

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 understandable that you want to offer valuable advice to your friend about growing their company's wealth. While investing in assets like Bitcoin can potentially yield significant returns, it's essential to consider factors like risk tolerance, financial goals, and the stability of the investment. Bitcoin's value can be volatile, and investing a large portion of the company's funds in it may expose them to significant fluctuations in value. Encouraging diversification and seeking guidance from financial professionals could help your friend make informed decisions about how to manage and grow their company's wealth effectively.

[kro55]

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 understandable that you want to offer valuable advice to your friend about growing their company's wealth. While investing in assets like Bitcoin can potentially yield significant returns, it's essential to consider factors like risk tolerance, financial goals, and the stability of the investment. Bitcoin's value can be volatile, and investing a large portion of the company's funds in it may expose them to significant fluctuations in value. Encouraging diversification and seeking guidance from financial professionals could help your friend make informed decisions about how to manage and grow their company's wealth effectively.

I really don't like OP's advice even though he has good intentions of wanting to help his friend. In my opinion, using a company's reserves or budget to invest in a highly volatile asset like bitcoin is an unwise idea. Not to mention OP completely does not know the business situation of his friend's company, he should not give such arbitrary advice. Finding a financial advisor is the best solution for both of you and the safest. We are just retail investors, not senior financial advisors and knowledgeable about finance, so we limit giving advice to others.

[angrybirdy]

Never force your friend to invest in Bitcoin, you should only explain the benefits of Bitcoin to your friend, the risks and benefits of Bitcoin. Then let your friend decide independently, moreover, to invest in Bitcoin, you must first understand the basics of Bitcoin well. You tell your friend the basics of Bitcoin, like how to hold it, when it goes down and when it goes up, and what levels it might go to in the future. Let the decision be made her independently.

A person should not be forced to invest in something he has no idea or interest in. Investment involves a huge value of money, so he cannot simply give advice to other people, sugarcoating what the achievements or benefits of bitcoin once we invest here.  crypto is volatile, everyone knows that, it is difficult to force someone to invest here especially if the details of your explanation are not complete and besides, it will be difficult especially if the person has no knowledge or doesn't even know even the smallest details about the investments.

[Peanutswar]

Does your friend already adjusted with the company if not and he will inherited the business it's a large factor how he will manage and continue to get having a success with their business. it's ideally to make an investment inside first like the machines if needed, human power, find and seek another co-investor so the company will keep growing. Just encourage him to make an investment with the Bitcoin if he knows already how to not make the company fail. Let him make an investment once he makes a good amount of money. BTC is just there no need to hurry up but the business already build it's reputation and help out tons of people to have job right there.

[Gladitorcomeback]

Does your friend already adjusted with the company if not and he will inherited the business it's a large factor how he will manage and continue to get having a success with their business. it's ideally to make an investment inside first like the machines if needed, human power, find and seek another co-investor so the company will keep growing. Just encourage him to make an investment with the Bitcoin if he knows already how to not make the company fail. Let him make an investment once he makes a good amount of money. BTC is just there no need to hurry up but the business already build it's reputation and help out tons of people to have job right there.

I wouldn't advise him to suggest Bitcoin or cryptocurrency investments to his friend, especially when the money in question is not his personal property but it's company's money and he should be using that money to improve or grow the company instead of making such investments where there is a risk of his money losing value over time because in case the company requires the money shortly and the price of Bitcoin is low at that time, he wouldn't be able to withdraw the investment and if he does, he will lose money in it.

No business can reach a level from where it can't be upgraded anymore, so the business his father has built must have the possibility of getting an upgrade and he can grow the business with the money instead so that he doesn't have any extra tension after investing the money in Bitcoin.

[Gaza13]

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.

To tell friends there's nothing wrong, it's best not to mix up the company's overall finances to invest in bitcoin, this will have a bad impact on their company? At least if they want to invest it must be for company profits only. It's true that what you said should be someone who accompanies or consults with his family. This is much better, compared to making decisions yourself. At least he appreciates his parents' hard work in building a company. Creating a company as we know is not easy, especially if it is already running well, it takes a long process to achieve it all.

[HideYourKeys]

I do not think that it is bad advice, but I believe your friend should research bitcoin on his own as well

[Zanab247]

Never force your friend to invest in Bitcoin, you should only explain the benefits of Bitcoin to your friend, the risks and benefits of Bitcoin. Then let your friend decide independently, moreover, to invest in Bitcoin, you must first understand the basics of Bitcoin well. You tell your friend the basics of Bitcoin, like how to hold it, when it goes down and when it goes up, and what levels it might go to in the future. Let the decision be made her independently.

If you force your friend to spend such money in BTC without having the knowledge of the investment, and something bad happen to the BTC, you will go to jail, if the person sue you to court in my country because the evidence the judge need to give justice to the case is very clear.

Impacting your friend about BTC investment is a good idea, it will make him to have the knowledge to introduce it to his own company and he will not hodl you responsible for anything that will going to happen in the future.

Once someone is very good in hodling BTC for a long period of time, before you can sell to make a good profit show that the person have achieved the knowledge of BTC, and it will be favourable if the person can apply long hodling in the BTC which is the best way to help the company to accumulate profits.

[DeathAngel]

Nobody who bought Bitcoin & was able to HODL for 6+ years has ever lost money. Leaving money in the bank doing nothing is just a guaranteed way to lose purchasing power. So to answer the question it is definitely good advice for the guy to buy Bitcoin with money in the business bank account but he must be willing to hodl & not panic sell during market down turns.

[Bulltard]

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.

good job. enjoy a nice lawsuit if his company goes bankrupt

[CryptoHeadlineNews]

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 literally not a bad idea my friend, but inasmuch as he won't later in the future be in urgent need for the money and want it at all costs, which might result to the coin either been sold at a loss or profit. . Because if you could examined "Microstrategy" which is been referred as the top highest holder of Bitcoin currently, you will notice that they didn't just buy all their 170,000 BTC at ones, but rather they were able to accumulate such number by buying consistently and gradually, and today they rank the top. Hence, what Microstrategy did, any other company can also do the same, but if only they are disciplined enough to have a long term investment plan and stick to it, most especially now that the price of Bitcoin is said to be correcting around $60k to $70k, as it's predicted Bitcoin is likely to skyrocket higher to even $100k to $150k)

[Skfox]

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 totally concur to this, no doubt a good friend is one who sees what is good and than relates it to his friend. Investing in bitcoin is a very good advice to give to a friend but involving his family company's money and one with no knowledge of bitcoin is kind of not ok. If he finally invests in bitcoin with his family company's money and then tomorrow the company goes bankrupt and bitcoin price drops down which will later go up or what if in course of investing he falls in the hand of scammers, your friend will be disappointed and all blame will be on you.
It is not a bad advice but in my own opinion I will suggest you educate him on bitcoin, what bitcoin is all about and how it works then allow your friend to take the step of investing in bitcoin himself.

[dansus021]

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!

I like your statement here 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.

You Me and everyone in the world must know that Crypto is high volatility is more that any other asset, commodity or even fiat. To be honest you can go 1000% in a single f*cking day or ending up 100K USD in a couple minute

So better to try it first rather cry later

[Xampeuu]

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 literally not a bad idea my friend, but inasmuch as he won't later in the future be in urgent need for the money and want it at all costs, which might result to the coin either been sold at a loss or profit. . Because if you could examined "Microstrategy" which is been referred as the top highest holder of Bitcoin currently, you will notice that they didn't just buy all their 170,000 BTC at ones, but rather they were able to accumulate such number by buying consistently and gradually, and today they rank the top. Hence, what Microstrategy did, any other company can also do the same, but if only they are disciplined enough to have a long term investment plan and stick to it, most especially now that the price of Bitcoin is said to be correcting around $60k to $70k, as it's predicted Bitcoin is likely to skyrocket higher to even $100k to $150k)

starting with breaking through the previous ATH, then during a correction like this time it can be used as a reference to look for areas to buy bitcoin. Indeed, it would be better to buy it in stages in a predetermined area so that there are several scenarios, because we don't know what will happen afterward. But I think we believe that investing in Bitcoin is safe and more and more investors will come

[Dr.Osh]

I think the money in the bank that his father kept was money that was used for emergency purposes. However, it depends on the purpose of the money being saved, if it is for emergency purposes, then I do not recommend investing it. However, if he intends to invest it, then I suggest investing in things that have little risk. Since he may still be trying to adapt to the development of the company he is continuing, it is best not to choose risky investments. When you advise him to invest in something risky, and something bad happens, then the main target to blame is you. Well, but this is just a suggestion from me.

[Wendu010]

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.

[johnsaributua]

Starting investment is good because the financial condition of even the company will go down with the running of market demand in any sector (not constant and not always brilliant) Friends are a strong enough influence for someone to try new things, your concern may be felt later on, I was also introduced to bitcoin by my friend when I still had a job / company that I just started. Bitcoin is indeed effective, and has proven to help my finances a lot in times of downturn, increasing the value of income. It is better if your friends use company funds wisely and allocate them like the company's daily budget, so as to reduce the disruption of ongoing liquid funds. Many think that holding bitcoin is the right solution even for the long term, yes that's true. But company money is its liquidity demanded to be ready to use, and investing is long-term, so allocating a few % is better.

[Wendu010]

I can't advise my friend to take the same step orders are taking just because you're making it. But I will only advise him or her. To work more hard, to become more greater than them.