BasEx | Retired Couple Invests Savings in Bitcoin & Ethereum
A Couple of Pensioners Invested All Their Savings in Bitcoin and Ethereum
18.12.2023
A Couple of Pensioners Invested All Their Savings in Bitcoin and Ethereum

An elderly husband and wife from the United Kingdom claim that their entire investment portfolio consists solely of the first cryptocurrency and Ethereum (ETH). The pensioners shared this information in a letter to The Telegraph.

"We are a couple - a retired teacher, 61, and a still-working lecturer, 57, with two independent adult children. Our net income is £48,000 per year," the letter states.

In total, they hold bitcoins worth £900,000 and Ethereum worth £194,000 in a cold wallet, as well as £150,000 in cash.

The pensioners sought advice from the British publication, receiving recommendations from expert Victoria Scolar. In response, she stated that their portfolio would "cause a heart attack for most financial advisors."

"To me, this seems like a time bomb that puts you at risk of losing these hard-earned funds if you don't take decisive action as soon as possible," said Scolar.

She pointed out that the couple's funds are not diversified and are subject to high volatility. In her opinion, the pensioners should sell digital assets, as the growth of the crypto market this year has allowed them to realize profits.

Scolar recommended investing 40% of the proceeds in various stocks, another 40% in bonds, and also considering the purchase of real estate.

"Considering the triple-digit percentage growth of Bitcoin this year, it's very easy to understand the appeal of cryptocurrencies. However, it's harder to remember that there are serious risks that can threaten your wealth," she cautioned.

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