Is it time to invest in bitcoin? If you are like most people, you can be on the fence about cryptocurrency. Many financial institutions were also on the fence till recent.
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As cointelegraph reported, Grant Cardon’s real estate firm, Cardon Capital bought 1,000 bitcoins, highlighted a shifting investment strategy in his company. For more information about Cardon’s latest step, read and what it means to bitcoin and your investment strategy.
Cardon Capital’s recent move
On 21 June, Grant Cardon posted on X (East Twitter) that his firm “first became integrated with real estate/BTC company full BTC strategy”. It comes after announcements in late April that Cardon Capital was planning to use benefits from its real estate venture to buy 1,000 bitcoins.
As Cointelegraph reported, the purchase of Cardon Capital was more than $ 101 million. And this purchase cannot be only one. Coindesk reported that Cardon Capital is planning to add 3,000 bitcoins and 5,000 residential units by the end of the year.
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Is it time to invest?
As more traditional finance institutions adopt cryptocurrency, more investors on the fence can enter the market. These large financial institutions conduct perfectly hard work and market research before pushing a new investment, meaning that they have completely vetoed bitcoins and believe in the ability to generate financial returns.
However, the decision to invest is based on your personal financial goals. Bitcoin is still a relatively new type of property, meaning that there is no historical data of 50 years. As a result, many investors complement their portfolio with bitcoins. For example, they will buy traditional investment, such as mutual funds and exchange-traded funds (ETFs), and some funds in bitcoin.
Diversification and allocation of your portfolio between bitcoin and traditional investments will depend on your risk tolerance. If you have high risk tolerance, you can catch a high level of bitcoin. Conversely, if your risk tolerance is low, bitcoin should be made a small part of your portfolio.
Like any investment, your funds are likely to lose. However, cardon capital investment in bitcoin can be a positive signal. Properly balanced your portfolio, working with a financial specialist and continuously implementing inspection are great ways to reduce the risk.
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This article originally appeared on Gobankingrates.com: Grant Cardon’s recent step can mean good news for bitcoin: is it time to invest?
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