When parties make a comeback in our partially post-pandemic world, it’s a good bet that Bitcoin will be among the most popular topics of conversation. It already is.
Google searches for Bitcoin over the past 12 months are at the highest possible level, at 100, according to Google Trends. The price of Bitcoin has gone from $9,500 in late 2020 to nearly $65,000 in mid-April of this year, and now hovers near $40,000.
Price swings in the tens of thousands of dollars in a single day are not unheard of for Bitcoin, but that volatility hasn’t blunted interest in the asset and may even have added to it especially among those searching for a get-rich-fast opportunity.
Meanwhile the number of financial firms offering products or services related to cryptocurrencies is growing. Goldman Sachs and Morgan Stanley are offering Bitcoin funds to wealthy investors, and JPMorgan and UBS are planning the same.
Given these and other developments and the growing media attention — some would call it hype — that Bitcoin and cryptocurrencies are receiving, ThinkAdvisor decided to ask financial advisors about what they’re hearing from clients about Bitcoin and how they’re responding. All respondents are CFPs. Some responses have been cut for length.
Check out the slideshow above to learn more.