My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.
My only question to all, was I able to give my grandfather the right advice??
I agree in terms of giving advice on investing in bitcoins for him, your grandpa's age should be enjoying his wealth more and taking a regular approach to investing in bitcoins rather than investing his entire fortune in a big way. Let's say he will be successful in his investment, my question is are you given full access to his bitcoin assets. If not, how will he run and manage it?
1. If yes, please give one good reason why he gave full access to you.
2. If not, what does he expect from investing in bitcoin, isn't it that the age of people who have grown old don't master technology and will have quite a hard time adapting to this.
If there is no more specific answer, then I'm afraid your grandfather will have a bad old age for the investment advice he made, not because bitcoin gave him losses but because he was unable to enjoy the returns from the investments he made.