As a financial professional you’ve undoubtedly had clients asking questions about Bitcoin recently. As a consultant to elite financial professionals as well as being an investor and serious student of crypto currency and the blockchain space, I wanted to put this brief whitepaper together to supplement your awareness for this rapidly emerging segment of the financial services sector. At a minimum, you have to be able to engage your clients in a meaningful way if they have questions. Regardless of whether or not you ever have a physical position in this space, you must develop a philosophical position on this space. Notwithstanding where your firm and your compliance department stands currently, there is a good chance that at least a couple of your clients are already active in crypto outside of your deliverables.
As a lifelong planner, the key is to always be looking down the road at trends and trajectory. Two quick points right up front: in March of 2020, the overall market cap for the many thousands of crypto currencies was just under a 1 trillion USD. In mid-April of 2021, it approached 2.2 trillion - which is incidentally close to the GDP of the United Kingdom. When you consider the adoption curve, crypto is clearly tracking towards an inflection point.... Click here to read the full article on LinkedIn