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As cryptocurrency becomes mainstream following campaign endorsements by President Trump, financial advisors are faced with how to navigate crypto volatility when adding bitcoin (BTC-USD) and other crypto assets to a portfolio.
CoinShares CEO and co-founder Jean-Marie Mognetti joins Market Domination with Julie Hyman and Josh Lipton to discuss financial advisors' sentiments about crypto trading.
"What we're seeing is like the pressure, the peer pressure among financial advisors is very strong," Mognetti says, explaining, "They're very, very wary of what the other colleagues are going to think about them."
He explains the career risk cryptocurrency investing once represented: "And now it's becoming a risk for your career not to do it, but when it comes to financial advisors, it's still perceived as a risk because the older generation of risk advisors are still not embracing it completely."
The CEO highlights crypto investors must "invest responsibly" and diversify to not "put all your eggs in one basket," adding, "The real future is like how you start mixing cryptocurrencies with traditional assets and bring better risk-adjusted products to the market."
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This post was written by Naomi Buchanan.