Family Offices Increasingly Utilizing Bitcoin in Their Portfolios

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We at FintekNews have been strong (really strong) advocates of Bitcoin for not only what it can do for transactions BUT because it is an asset class too. We to believe it should be a part of everyone’s portfolio and investment strategy with Bitcoin actually replacing the gold portion (if you have one). While a lot of people are thinking that maybe Bitcoin could be an asset class, we say it already is. 
(Bill Taylor/CEO)

 

“Bitcoin is a digital currency. Unlike traditional currencies, bitcoins are “mined” by individuals and companies running sophisticated computers solving mathematical problems. Bitcoins have a number of defining characteristics including:

• It is decentralized meaning there are not any institutions controlling the currency.
• It is transparent because of blockchain technology.
• It is fast way to transfer funds and the transaction fees are diminutive.

While bitcoins are used as currency to purchase services and products, they are also a potential asset class. According to Angelo Robles, founder and CEO of the Family Office Association, “We’re seeing a growing number of single-family offices – especially those with greater assets – invest in less traditional assets such as bitcoin….”

Read Full Article at Forbes