Cryptocurrency - Money Down the Rabbit Hole
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Cryptocurrency investments were a hot topic for a long time until last year. Then, $3.9 billion (in the U.S. market) was lost in the cryptocurrency market - https://cointelegraph.com/news/3-9-billion-lost-in-the-cryptocurrency-market-in-2022-report. During the “Crypto-Superbowl,” we saw expensive ads promoting cryptocurrency investing. Tom Brady and Matt Damon were promoting investments in cryptocurrency. Other promoters of these investments are Madonna, Gwyneth Paltrow, David Ortiz, Kim Kardashian, and Floyd Mayweather Jr. plugged cryptocurrency. Now many of them have losses and are facing lawsuits for damages from people who listened to them.
You might think that this news is the end of the cryptocurrency story. It is not. The Wall Street Journal (February 21, 2023, https://www.wsj.com/articles/some-everyday-investors-still-bet-crypto-can-make-them-rich-7107d63e) reported that a number of “everyday investors” continue to invest into cryptocurrency to build their wealth. More amazing is that 39% of cryptocurrency owners said that they would buy more.
We have heard stories of people getting rich by investing in cryptocurrencies. Many early investors made fortunes. Pew Research Center states that 16% of American adults said to have bought, traded, or used cryptocurrency in July 2022. Its use is higher with men than women. Most adults investing in it are under 50.
Investing in cryptocurrency does not seem to be going away. Even though recent events are dire, people are still investing in and holding cryptocurrency. Do you know what the risks are when investing in cryptocurrency? How do you time a cryptocurrency investment? What is the value that cryptocurrency provides? Most importantly, the real question is, should you?
We invite you to a conversation about a cryptocurrency called “The Crypto Trap.” This is a discussion about human behavior and how it can destroy your wealth. We will provide you with information about investing in cryptocurrency which is for most investors a confusing and difficult problem or question.
In this conversation, we shall look with you at the interest, conversation, advertising, and hype around cryptocurrency and other digital “investments.” We will explain what cryptocurrency is and what people mean when they say, “crypto assets.” We will provide information for you to discover if it has the basics that create a desirable asset class. And end with a discussion on how real people can lose real money when they get caught up in the hype around cryptocurrency.
At Stone Wealth Strategies, we believe that education and knowledge will help the investor to understand their investments and create peace of mind around money. We exist to empower you to live your dreams. Our vision is a world where anything is possible. Our mission is to provide life-changing financial coaching for you to achieve freedom and abundance. Within that purpose, we bring to you the conversation called “The Crypto Trap” on Wednesday, June 14, 2023, beginning at 5:30 PM and ending at 7:00 PM mountain time. This is a conversation over Zoom Video Conference.
Please join us in this conversation. To register, please contact us at coaching@stonewealthstrategies.com or call us at (970) 922-2125.
Stone Wealth Strategies. is a registered investment adviser. The information presented is for educational purposes only and is not intended to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.