Barron’s Advisor is the gold standard when it comes to advisor conferences, rankings, education, and practice management. I’ve had a longstanding relationship with them and am thrilled to announce our new collaboration.

Learn all the details in today’s short episode. And be sure to visit: https://stevesanduski.com/barronspodcast/

In a Nutshell: Learn the basics and dispel the myths around Bitcoin so that you can provide advice that's in your clients' best interests.

Guest: Adam Blumberg, CFP, co-founder of Interaxis, a company that provides research and education to advisors and companies in the cryptocurrency, digital assets, blockchain, and DeFi space. 

My Key Takeaways:

1. Money is complicated. Money's been called many things and we discuss some of its key properties and why Bitcoin may just be the ultimate manifestation of "money."
2. Bitcoin is not going away. It's survived several boom and bust periods and is now hovering near all-time highs. Big players like Fidelity, MassMutual, Paul Tudor Jones, Bill Miller, Stanley Druckenmiller, and many others own and advocate for it.
3. Bitcoin is not for everyone. Not yet, anyway. But as interest rates stay low, federal deficits rise, and ideas like Modern Monetary Theory gain popularity, there's a subset of your client base that will be looking for alternative investments. Do you want those clients buying volatile crypto on their own or working with you to diversify a reasonable percentage of their portfolio?

Also Learn:

1. What the difference is between "bitcoin" and "Bitcoin."
2. Why many bitcoin proponents call it "digital gold."
3. Why some of the mystery that turns people off Bitcoin -- such as who created it -- is actually a strength that has helped it gain widespread adoption and acceptance as a store of value.
4. Where advisors are turning to learn more about Bitcoin, even if they ultimately decide to guide their clients elsewhere.

Paul Tudor Jones did it for hedge fund managers. Michael Saylor and Jack Dorsey did it for publicly traded companies.
 
Now, Marty Bicknell is doing it for RIAs and he discusses it with me on my new podcast.
 
Once called “rat poison squared” by Warren Buffett, bitcoin is now going mainstream. After a tumultuous 12-year existence punctuated by head-spinning bull markets, devasting declines, exchange hacks, and its use in criminal activities, bitcoin has grown into adulthood.
 
Bicknell recently announced that his firm, the $35 billion AUM behemoth Mariner Wealth Advisors, will offer bitcoin to its clients through a separately managed account run by Eaglebrook Advisors.
 
To date, only a small number of intrepid advisors including Morgen Rochard, Jackson Wood, Adam Pokornicky, Tyrone Ross, Adam Blumberg, and Isaiah Douglas have done the pioneering work of understanding bitcoin, figuring out the compliance and operational details of offering it, and presenting it to their clients as part of a thoughtful asset allocation.