Quote from: Roser bouce on April 27, 2024, 05:33:56 PM

Quote from: Outhue on April 05, 2024, 09:10:33 AM

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.