The saga of Bitcoin continues. Over the last 3 days, the Bitcoin futures fund GBTC is -49%. While it’s impossible to tell what’s next for Bitcoin, this is a prime example of why fiduciary advisors should NOT be giving in to client requests to own this fund. Regardless of if it’s Bitcoin, or a sector, or a specific stock, with price action as wild as it’s been, it would be reckless to have this in a client’s investment portfolio.
Here’s what I’ve been reading this morning: