Thinking About Investing in Bitcoin? The Currency May Be Virtual, but the Risk is Real

News & Events


CFP Board in the News

Thinking About Investing in Bitcoin? The Currency May Be Virtual, but the Risk is Real

Dec 14, 2017

A lot of people have the “FOMO” disease.

It’s a common ailment defined as the fear of missing out. And now that bitcoin is the hottest financial craze, I’m afraid that you might be extremely anxious that you’ll be proven a fool if you don’t invest in this virtual currency.

There’s no question that the price of bitcoin has skyrocketed: It’s up more than 1,000 percent since the beginning of the year.

With returns like this, no wonder so many people fear missing out. Who wouldn’t want to become a bitcoin millionaire, right?

But I don’t have FOMO when it comes to the notoriously volatile bitcoin or any of the other surging virtual currencies. Investing in bitcoin is speculation on steroids…

Perhaps you still have FOMO. If so, here’s what three [CERIFIED FINANCIAL PLANNER™ professionals and CFP Board Ambassadors] — Mark DiGiovanni in Atlanta, Steven Podnos from Cocoa Beach, Fla., and Robert Schmansky from Detroit — had to say when I asked them about virtual currency… Read more >

The Washington Post
By Michelle Singletary
December 14, 2017

Speaker's Bureau
CFP Board’s leadership and representatives are available for interviews and speaking engagements on personal finance, the financial planning profession, CFP Board and the CFP® designation.

Upcoming Events

Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call themselves a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
Let's Make A Plan
Don't address your finances individually. Pull your finances together with the help of a CFP® professional.