In an ongoing series exclusive to ThinkAdvisor, Joe Elsasser, CFP® and Ron Piccinini, PhD provide readers with two distinct perspectives on the same topic. The most recent installment was published today, "The Advisor and the Quant: Cryptocurrencies and Financial Planning."
In this edition, we asked both Joe and Ron what role will cryptocurrencies, like Bitcoin, play in financial planning strategies in the future?
Joe's response included:
I expect cryptocurrencies will play a significant role in the future, primarily because they present an opportunity to reduce costs to consumers by disintermediating traditional financial institutions and reducing or eliminating central government manipulation of currency values. That said, the timeline under which this transformation happens is unpredictable.
And Ron's response included:
Few people realize that cryptocurrencies have been around for a decade, and there still isn’t a good practical use for them (even after billions of dollars of investment)...In the face of such risk, smart investors with the proper risk appetite will allocate no more than half of what they can absolutely afford to lose, and keep the other half for the next new thing.
See the rest of what Joe and Ron said in the full article from ThinkAdvisor here.