When I read the title of this news in which a U.S. top financial advisor is exhorting people to buy companies instead of investing in bitcoin, I was expecting his advice would be supported by some solid explanations.
Instead, he goes flaccid with his advice by saying something along the line that cryptocurrencies may collapse and possibly be substituted by something more exciting just the way Blackberry and Palm were fantastic before Apple came out.
Years ago, Warren Buffet said something similar about Amazon and then much later after early investors have taken home their windfall, he said he was an "idiot" for not buying into amazon.com. You can read about it here: https://www.thestar.com.my/business/business-news/2019/05/03/billionaire-buffett-says-berkshire-has-finally-invested-in-amazon-com
I am not saying that his prognosis will not come true. All I am saying is his reasoning doesn't hold water.
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Pretty much winning strategy to bet AGAINST “top” US anything these days.
Acute observation!
I think there is a middle-ground here. While at heart I do agree with your sentiment, one takeaway from the author's point is that a lot us crypto enthusiasts engage in purely speculative, "betting" behavior when it comes to crypto -- this is not good if you are serious about long-term investments. In thinking about the long-term value of crypto, we definitely need to spend more time on each particular token/blockchain's use-case and value, i.e. BAT's disrupting the broken internet-ad world, Stellar's streamlining cross-border payments; Monero's vision for privacy, etc.
Agreed. I wish he had your wisdom and was more elaborative instead of being skimpy.