Bitcoin and other Cryptocurrencies are interesting, disruptive and shouldn’t be dismissed. This is not a recommendation to buy cryptocurrency, but history has shown various forms of money, such as shells, stones, tobacco leaves, silver, gold, paper and most recently cryptocurrency can be exchanged based on a value or “trust” that others would accept.
Regardless of your opinion or our opinion, if people accept cryptocurrencies as money or a store of value, then it has a value. Ask us about cryptocurrencies.
Cryptocurrency is currently considered to be a speculative investment. The speculative nature of cryptocurrencies notwithstanding, the Registrant may (but is not obligated to) utilize crypto exposure in one or more of its asset allocation strategies for diversification purposes. Investment in cryptocurrencies is subject to the potential for liquidity constraints, extreme price volatility and complete loss of principal. Clients can notify the Registrant, in writing and at any time, to exclude cryptocurrency exposure from their accounts.