Need to Explain Bitcoin to Friends and Family? Here’s a Strategy Or Two

For some reason or another, discussing Bitcoin at the Christmas dinner table has become somewhat of a meme. Christmas, after all, is when you spend time with the closest people in your life, the people who may listen to your drunk ramblings about the potential of blockchain or why a certain cryptocurrency (or investment for that matter) will perform well.

If you’re looking to bring up Bitcoin at the holiday dinner table tonight or any time over the next few weeks, here are two good strategies in bringing up the subject matter as proposed by prominent cryptocurrency investors.

Related Reading: Wyckoff Analysis: Bitcoin Bottom Is In, Price Poised to Break Past $8,000

Why Bitcoin?  

Anthony Pompliano of Morgan Creek Digital recently sat down with Luke Martin, a prominent cryptocurrency trader, to talk Bitcoin. At one point in this interview/podcast, Pompliano spent a minute giving the case for the question, “why invest in Bitcoin?” This is especially pertinent, considering the fact that cryptocurrencies and other investments may be a part of the holiday dinner conversation.

Pompliano explained his best case as follows:

Over the past five years, if you had a standard 60/40 Global portfolio, you’d return 7.2% a year. If you take 0.5% from stocks and another 0.5% from bonds and instead allocate that to Bitcoin, your return would go from 7.2% to 9.2% — a 200 basis point upside… That’s not to mention that since it’s non-correlated, reducing the overall risk of the portfolio.

He went on to say that Bitcoin is one of the world’s largest base currencies, with yearly transaction volumes that surpass that of PayPal, Venmo, and other leading payment service providers, even though it is all done in a decentralized manner.

Need help during the holidays to convince your friends, family, and loved ones about the importance of Bitcoin?

Show them this video that I recently recorded with @VentureCoinist. pic.twitter.com/B05f8L0s5O

— Pomp 🌪 (@APompliano) December 24, 2019

Related Reading: Sorry Bulls, Bitcoin Indicator That Called 50% Decline Still Flashing “Sell”

Alternative Strategy: It Is 2019’s Best Performing Asset Class

Pompliano isn’t the only cryptocurrency investor to have an opinion about how you can best explain Bitcoin to your family and friends in a holiday dinner context.

Per previous reports from NewsBTC, Travis Kling, the chief investment officer of Ikigai Asset Management and former Point72 portfolio manager, gave his strategy about spreading the good word of Bitcoin prior to Thanksgiving.

Related Reading: Bitcoin Price Likely to Jump After Christmas; Here’s Why

He remarked that if the top of cryptocurrency comes up, remind them that despite the recent downturn, which has collapsed Bitcoin by 50% from $14,000, the asset remains up some 80% this year and is the “best performing asset class by a wide margin.” This, as a matter of fact, is true, despite the harrowing headlines you’ve likely seen all across the web about the impending “death of Bitcoin” or other apocalyptic quips of a similar nature.

After that, Kling proposed you should fire a link of a certain article to your family and friends. The article in question, Xapo CEO Wences Casares’ “The case for a small allocation to Bitcoin” — a seminal work about why it makes sense to allocate 1% of your investment portfolio to BTC.

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