Leading UK investment platform cautions investors against Bitcoin.

crypthub

about 23 hours ago

Bitcoin Value Assessment

Hargreaves Lansdown, a leading UK investment platform, cautions clients about Bitcoin (BTC). The firm, managing $225 billion in assets, asserts Bitcoin has “no intrinsic value.” They deem it an "extremely volatile" investment, highlighting significant losses experienced. Hargreaves Lansdown explicitly states they don’t classify Bitcoin as an asset class.

Investment Recommendations

The company advises against including cryptocurrencies in portfolios seeking growth or income. Performance assumptions for cryptocurrencies are deemed unanalyzable. This perspective aligns with warnings from institutions like Deutsche Bank and Elliott Management. Hargreaves Lansdown emphasizes that cryptocurrencies lack inherent value compared to alternatives.

Upcoming Services

Despite the warning, Hargreaves Lansdown plans to offer cryptocurrency buying and selling services. This decision presents a contrast to their cautionary statements about Bitcoin’s volatility and value. The platform's new feature will soon be available to its customers.