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.
In the first place did he seek for your advice of If may ask?
It only feels wrong when you try to convince him to have the money Invested on bitcoin but right when you shares about the potentials of bitcoin in both Ups and Down with him and let him decide according to his conscience.
If you do base up on his sentence or the words that he spoke then he told that his friend reached him out or told him about the his fathers company and telling that the money is available and doing nothing in the bank. So OP did make out some recommendation about Bitcoin which it isnt really that a bad recommendation but of course it would be best that OP did make some caution or making up some warnings that potential of losing money or would be having negative is there on which simply means that whenever the market do make out such dip or correction then you wont really be getting any blamed with that compared if you do have just explain to him about making profits without explaining about the potential risks that it could have on which it is really that very wrong.You would really be recieving those negative words that came from your friend because you had missed out on telling him about the risks involved.
This is why on the moment that you do make out such recommendation then it would be always better to explain about its pros and cons and let him decide whether they would be putting up their business funds
or company funds into it because you have that making them getting convinced about the opportunity or chance that it do gives on making even more profits on just simply holding. It is really just that a matter of time and a matter of market condition on where the results would really be ending up on being positive or negative. Only put up on the amount which arent intend to be used because if you do find yourself on negative and you do need those funds then it would be a realized profit and taking it back would be challenging.