Navigating the Digital Asset Landscape with Matt McCall - YouTube

one of the hot topics on everyone's mind is  digital assets here to break it down what the  

current landscape looks like i'm joined today by  matt mccall lead analyst at stansberry investor  

pro so matt thank you so much for joining me my  pleasure thank you like i said hot topic digital  

assets talk to me high level what does the current  landscape look like what can we expect and what  

should advisors be considering right now well the  big thing with advisors right now is they're being  

forced to be educated on digital assets because  their clients are now reaching out to them and  

the numbers are showing a lot of people if they  think of digital assets think about bitcoin think  

oh young people my grandson but what you don't  realize is the people 60 and above have become  

very interested in the last two years because they  see it going up obviously in price it's extremely  

volatile but it's been gone up price last couple  of years so now they're reaching out to their  

financial advisors and a lot of the advisors don't  know where to begin so what we're trying to do  

is help educate the advisors so they can have a  conversation with their clients because if they  

don't they could potentially lose those assets  that they have because they can go somewhere  

else where they might offer bitcoin exposure or at  least educate them on what digital assets are and  

how they can work in somebody's portfolio so in  your opinion it's here to stay we're gonna start  

seeing it more and advisors need to get on board  essentially they do i mean and you know a lot of  

advisors their main job is to gather assets right  so it's not as much about knowledge of the market  

and i hate to say that was true i was an adviser  for 17 years you gather assets but you know if  

the advisor doesn't it can't speak to digital  assets and it's not going anywhere like you said  

bitcoin is not going or digital assets are an over  2 trillion dollar market it's not small anymore  

you're seeing large institutions continue to hire  jpmorgan goldman sachs in this realm so if they're  

putting money behind it it's here to stay and  we're just scratching the surface i mean we're  

in very early stages where bitcoin you know 31 000  now could be 310 000 in five or 10 years from now  

and if you don't get your clients into that  they're going to be asking why so you have to at  

least you have to start having that conversation  with your clients and it can be overwhelming for  

advisors now they have to wear several hats as  is they're already almost behavioral coaches  

life coaches you know and outsource cfos really  for individuals and families so now they have to  

stay on top of new trends like digital assets what  kind of education is out there for them now so  

here at stansberry investor program in analysts we  we offer like really basic stuff because you want  

to help them just educate what is bitcoin what  is blockchain how do they fit into portfolios  

which is obviously extremely important and  a lot of it you know this education part is  

you mentioned a lot of times when i was an advisor  i was a shrink that's what i did because they'd  

only call when things are really good or really  bad typically so you can either talk them off the  

ledge one way or the other same thing with bitcoin  because they see bitcoin going up to a new high  

they're going to be calling their advisors and say  why aren't we in this or if bitcain bitcoin falls  

why is it going down should we get rid of it  so you kind of have to let the advisor know  

take the long-term approach what it really  means what bitcoin really is not just some crazy  

currency that people think of it's a store of  value it truly is a digital gold as they call it  

so you know we're trying to help educate them  have those conversations with their clients  

to essentially grow their assets and what are the  biggest questions that they're getting from their  

clients about crypto and digital assets well it's  usually mine would start with my grandson told me  

about this thing i knew you exactly what's this  and he told me he made x amount of money on it and  

why am i not making money on it so the questions  are why aren't we doing it and and you know even  

if the advisor's not behind digital uh assets or  bitcoin you can still say listen this is why we're  

not doing it it doesn't fit into your risk profile  you know or this is why we should be doing it so  

i think that the questions are why aren't we in  this and tell me you know if we should go into it  

so would you say you're bullish then on the future  of digital assets in our industry i will say  

bitcoin is my largest single holding my net  worth right now so yes i'm extremely bullish  

wow well you heard it here first folks matt thank  you so much for your insights today thank you