Met with a Financial Advisor who oversees $650+ Million.. Is highly against against crypto and does not offer Crypto to his clients.

Through some business contacts and seeking some investors into a business I’m looking to start-up, I was introduced to a financial advisor. All i have to say, is this guy is damn good. Runs and operates his own practice and works with individuals in over 26 states. I could go on and on about him. Been fortunate enough that putting myself out there has led to this connections.

I had some business questions, financial questions and questions in regards to the infrastructure bill. Once I got to my Crypto question and asked his thoughts – here was his response:

“You want to know my thoughts on the whole crypto? I don’t like it and here’s why. It has no backing and currently all speculative. The value in which some of the assets are worth is ridiculous. I just don’t see the point in it, yet. Why are you so heavily invested?” – I gave my reasons and he then said this to me..

“I had a client walk in yesterday, we’re talking someone bringing close to 5 million for me to oversee and help them. One of their main questions was, do I offer crypto? I told them no and they took their business to another state. Sure, that amount sucked to see walk out, but i can’t offer it if I don’t believe in it.”

I’m not saying we’re still early, as it seems each day we get closer and closer to mass adoption – but I just thought I’d share my story about meeting with someone whose name has been all over the country and oversees some massive money. Needless to say, we may be doing business in the future and will have to help him learn crypto, lol!

Edit: I think i should add clarification – While he sees crypto as speculative and overpriced currently for use cases, his main concern is centered around the infrastructure bill, student loan postponement/forgiveness, interest rate hikes and so on. He’s keeping a close eye on all of that info and will update me as it moves. He’s not calling a “crash”, but he has mentioned things are going to get very choppy possibly this year and into 2023.