The best way to convince your parents to invest 10% of their portfolios in crypto is to tell them to invest 1%.

I'm almost 40 and both my parents are over 70 years old, and both have a long history of successfully investing in traditional markets. Last year, after months of discussing fundamentals and the macro-economic backdrop, I was able to convince my parents to invest 1-3% of their portfolio in crypto. Earlier this year they have increase it to 10%.A small allocation into the crypto asset class is an extremely important hedging strategy. I would never recommend going all in and/or assuming leveraged positions. However, not having any capital allocated in Bitcoin and Ethereum is financially irresponsible at this point.If you have parents/grandparents, you should help educate them on what Bitcoin and Ethereum are, how the world monetary system has become extremely fragile and how it has created a sudo-bubble in traditional financial markets.There are a lot of well respected, prominent investors publicly discussing cryptos is a very positive light. Tim Draper, Raoul Pal, Paul Tudor Jones, Chamath Palihapitiya, and even the legendary Robert Kiyosaki is promoting Bitcoin. Look up videos on youtube of these guys and share them with your parents. They may be saying the exact same thing you are, but it makes a huge difference for your parents to hear it from them.

Submitted December 16, 2020 at 10:21PM