"𝚃𝚘𝚍𝚊𝚢, 𝙸 𝚝𝚑𝚛𝚎𝚠 𝚘𝚞𝚝 𝚊𝚕𝚕 𝚖𝚢 𝚙𝚎𝚗𝚌𝚒𝚕𝚜 𝚊𝚗𝚍 𝚎𝚛𝚊𝚜𝚎𝚛𝚜
𝙸 𝚠𝚒𝚕𝚕 𝚘𝚗𝚕𝚢 𝚠𝚛𝚒𝚝𝚎 𝚒𝚗 𝚙𝚎𝚗
𝙲𝚊𝚞𝚜𝚎 𝚖𝚢 𝚖𝚒𝚜𝚝𝚊𝚔𝚎𝚜 𝚊𝚛𝚎 𝚗𝚘𝚝 𝚏𝚊𝚒𝚕𝚞𝚛𝚎.. "
__ @𝙺𝚢𝚕𝚎𝙷𝚞𝚕𝚎𝚑𝚊𝚗𝚆𝚛𝚒𝚝𝚎𝚜
BY Quotes and Facts ®
Durov said on his Telegram channel today that the two and a half year blockchain and crypto project has been put to sleep. Ironically, after leaving Russia because the government wanted his encryption keys to his social media firm, Durov’s cryptocurrency idea lost steam because of a U.S. court. “The technology we created allowed for an open, free, decentralized exchange of value and ideas. TON had the potential to revolutionize how people store and transfer funds and information,” he wrote on his channel. “Unfortunately, a U.S. court stopped TON from happening.”
In general, many financial experts support their clients’ desire to buy cryptocurrency, but they don’t recommend it unless clients express interest. “The biggest concern for us is if someone wants to invest in crypto and the investment they choose doesn’t do well, and then all of a sudden they can’t send their kids to college,” says Ian Harvey, a certified financial planner (CFP) in New York City. “Then it wasn’t worth the risk.” The speculative nature of cryptocurrency leads some planners to recommend it for clients’ “side” investments. “Some call it a Vegas account,” says Scott Hammel, a CFP in Dallas. “Let’s keep this away from our real long-term perspective, make sure it doesn’t become too large a portion of your portfolio.” In a very real sense, Bitcoin is like a single stock, and advisors wouldn’t recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if you’re passionate about it. “If it was one stock, you would never allocate any significant portion of your portfolio to it,” Hammel says.
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