An elderly husband and wife from the UK claim that their entire investment portfolio consists solely of the first cryptocurrency and Ethereum (ETH). The retirees reported this in a letter to The Telegraph.
«We are a couple — a retired teacher, 61 years old, and a still-working educator, 57 years old, with two grown-up independent children. Our net income is £48,000 a year,» the letter states.
In total, they hold £900,000 worth of Bitcoins and £194,000 worth of Ethereum in a cold wallet, as well as £150,000 in cash.
The retirees turned to a British publication for recommendations, which were given by expert Victoria Skolar. In response, she stated that their portfolio 'would cause a heart attack for most financial advisors.'
«To me, this feels like a ticking time bomb that puts you at risk of losing these hard-earned funds if you don't take decisive action as soon as possible,» Skolar said.
She pointed out that the couple's funds are not diversified and are subject to high volatility. In her opinion, retirees should sell digital assets as the rise of the crypto market this year has allowed them to lock in profits.
Skolar recommended investing 40% of the received funds in various stocks and another 40% in bonds, as well as considering purchasing real estate.
«Given the three-digit percentage increase of Bitcoin this year, it is very easy to understand the appeal of cryptocurrencies. However, it is harder to remember that there are serious risks that could jeopardize your wealth,» she warned.
Earlier, the founder of the trading platform Eight, Michael van de Poppe, urged market participants to 'withdraw' money from banks and invest it in hard assets like gold, silver, Bitcoin, and other cryptocurrencies.
