SoFi Vice President John Foley: Real Risk in Losing Money in Crypto
Cryptocurrencies are on a rollercoaster ride. This week Bitcoin and Ethereum trading near their all time highs. SoFi Vice President and Certified Financial Planner John Foley warns investors to be careful with how much money they invest in this marketplace.
Foley advises clients to not invest more money in cryptocurrency than they can afford to lose. Foley cautions people to make investments in cryptocurrency part of a balanced portfolio.
"Fear of missing out should be fighting with a fear of losing money, " says Foley. Foley also recommends to diversity investments with several types of cryptocurrency.
The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged.
