Bitcoin (BTC-USD) is up over 50% year-to-date as the digital asset continues to garner attention, most recently with the ‘bitcoin halving’, in which the reward for bitcoin mining is cut in half. While some have labeled crypto as a volatile asset, could it still be worth it to add to one’s portfolio?
Digital Assets Council of Financial Professionals (DACFP) Founder Ric Edelman joins Wealth! to give insight into investing in crypto after the bitcoin halving event and what investors need to keep in mind when adding to their portfolios.
Edelman outlines his two key criteria for investing in bitcoin: "Number one, are you a long-term investor? And number two, do you own a diversified portfolio? Meaning if you are of the mind that you want to own a little bit of everything, stocks, bonds, government securities, real estate, oil, gold, foreign assets, emerging markets, then crypto belongs in that portfolio just like everything else. The whole point to a diversified portfolio is to reduce your risks. Don’t have all your eggs in one basket. You want to diversify. So the more you diversify, the better off you’re going to be from a risk perspective. "
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