It’s actually better then stocks because you can use it to buy goods and services.
Yah but you may pay 50% more if the value has declined if use bitcoin. It is all about hype just like the young inexperienced folks that traded the meme sp? stocks at values that were only based on the greater fool theory.
Stocks have a fundamental value-based on P/E ratio etc. Yes, you may underpay or overpay for value but it's based on something real.... earnings and earnings expectations, dividends etc.
Bitcoins will never be a legitimate currency other than for ransomware, drug trade,, human trafficking and other illegal business. And the kingpins or crime are often converting it to real money as fast as they can via money laundering methods.
Its been outlawed in many countries and in the US the DOL and SEC have issued stern warnings and part of prime audit issues for brokers/RIAs you better have a good justification if you sell it, especially in a retirement account where the more aggressive DOL has regulatory authority.
It is considered by many not "suitable" for most investors and we also now have the new "Best Interest"" rules requiring huge documentation on every transaction to show it is in the "best interest" of a client far beyond the prior suitability requirement., RIA's have to show a fiduciary standard in making recommendations and almost none dare suggest crypto,
Also mentioned often here are buying indexes. In my view how silly. Why on earth buy stocks just because they are in a broad index. That is foolhardy to me. I use experienced managers with long-time track records of results with positive Alpha relative to Beta and many other factors... i.e Outperformance vs risk taken.
Unfortunately, your choices in Canada are very limited however and more expensive than in the US. Even registration costs are high since each province has to register securities vs. just SEC in the US.
Assuming Covid doesn't get worse again with restrictions I will be trying again to attend a Toronto Retirement conference downtown for CFPs later this summer. It has been canceled for 3 past years due to Covid. I hate staying downtown vs for decades near the airport but may for the first time not rent a car but use Uber and stay as usual for a week or so. Also talking to a Toronto friend who we may take the train to Montreal (It has been years since been there) but maybe a separate trip.
