Approximately 13% of over 320 million global crypto owners are American, highlighting a growing interest in digital asset investment. With the increasing need for advisor support in managing crypto investments, it’s crucial for financial advisors to understand clients’ options. Strategies include investing in stocks of publicly traded companies with digital asset exposure, Blockchain-themed ETFs, and liquid tokens. But dichotomy exists between passive ‘HODL’ approach and active managers seeking diligent outperformance. Crypto’s volatility can aid active managers in identifying long-term appreciation potential. Despite still nascent, the crypto market offers increasingly diverse investment options.
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Navigating Uncharted Waters: The Question of Crypto Regulation and Tax Evasion
Senators Elizabeth Warren and Bob Casey are urging strict enforcement of crypto reporting requirements within the Infrastructure Investment and Jobs Act (IIJA), suggesting clear tax reporting guidelines for digital asset “brokers”. This measure aims to close the $50 billion “crypto tax gap”, addressing the tax evasion in the crypto industry.
Fed’s Rate Hikes and the Future of Gold and Bitcoin: Navigating Uncertainty and Volatility
Luke Gromen, on Blockworks’ On the Margin podcast, suggests that gold and Bitcoin have bright prospects amidst Federal Reserve’s aggressive rate hikes, but warns investors to be prepared for volatility and maintain a balanced portfolio to hedge against risks.