Matthew Mellon, a cryptocurrency multimillionaire, died unexpectedly in April at age 54. When he did, he took $500 million in Ripple (XRP) with him because he didn’t leave anyone the codes to his cold wallets. There is no central party Mellon’s heirs can approach to recover his holdings. No account statements they can use to…
For Attorneys, CPAs, Tax Professionals & Financial Advisors
Investors Want Professional Advice on Cryptocurrencies
The new and aspiring Bitcoin and cryptocurrency millionaires want help from financial advisors and wealth managers. In particular, more than 70% of millionaires younger than 40 want this kind of advice, according to research by Capgemini, a French consulting firm. High-net-worth individuals are most interested in holding cryptocurrencies, the survey finds, because of the potential for outsized…
3 Reasons Why Financial Advisors May be Ignoring Cryptocurrency at Their Own Peril
Why aren’t more financial advisors taking the time to truly understand bitcoin and other cryptocurrencies or the blockchain technology they are built on? Advisors might be dismissing bitcoin as a fad or are intimidated by trying to understand the technology behind it. And they might not realize how much that technology — the blockchain —…
