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30 sats \ 1 reply \ @BBitcoinUSA 3 Mar 2023 \ on: How can financial advisors help bitcoiners? bitcoin
There are a lot of people who don’t ever want to sell their BTC, they just want to hold, accumulate, and then pass it onto their kids and grand kids. There are also a lot of people who want to transact with Bitcoin exclusively not only because it helps fuel widespread adoption and increase the velocity of money, but also because it would help accelerate the conditions needed for a full replacement of the USD, at which point a bid/ask would no longer exist and everyday purchases would all be priced in BTC terms. Your ideal client at first is probably in the first bucket I described. You could basically manage their money and monthly cash inflows/outflows like you do now, but instead of picking stocks or funds and allocating across different industries and asset classes, you could focus on things like estate planning, budgeting their lives throughout retirement, figuring out how they can live off of their BTC holdings most efficiently without having to regularly liquidate their BTC, perhaps by sourcing USD financing on their behalf from lenders or other capital providers who accept BTC collateral (you could take a fee % there for arranging the deal), daily monitoring and management of their risk exposure, margin balances, etc. (maybe a fixed fee opportunity for providing an ongoing service), working with them and their heirs to design and implement protocols that will take effect once they’ve passed (maybe this is an hourly fee or a referral fee opportunity once you find an estate attorney who knows Bitcoin and is someone you trust enough to introduce to your clients). I am probably missing some things but it seems like there are a lot of ways you could build a nice business for yourself that wouldn’t cannibalize your customers once they are onboarded and fully educated on Bitcoin
You gave a perfect description of my ideal client 5-10 years from now.
Today, the client I'm best able to help is a bitcoiner that still has the majority of their net worth in traditional (fiat) investments.
Usually that means they are still transitioning to the bitcoin standard, they want help managing their fiat investments and taxes along the way, and they value having a trusted guide to lead them further into the bitcoin economy.
My goal for the next 5-10 years is to become a trusted advisor for bitcoiners to recommend their parents/grandparents to. Big mountain, but worth the climb.
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