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?
My thoughts as well. Felt the old man would be about enjoying what he has amassed to himself in course of his lifetime but, it seems his going to have his heart beating to the volatile nature of the bitcoin market. Perhaps the doctors needs to be kept on alert to nurse him back to health from HBP when it comes kicking.
Maybe his grandpa isn't that old as I like to start but again, it's a useful advice which I felt for someone that has acquired wealth to have already known. That his got to diversify other than having all his amassed wealth in a basket.