Financial Advisors, Bitcoin Is the Next Amazon

Y Edstrom, CFA, CFP, is the author of the book "Why Buy Bitcoin", a financial advisor and Head of Institutional at Swan Bitcoin.

He is a speaker at CoinDesk's Bitcoin for Advisors event, Nov. 9-10, 2020.

These days my wealth management peers are still making the same mistake with Bitcoin they did with Amazon in 2005.

More than a decade after 10,000 bitcoins were exchanged for two pizzas, Bitcoin has pretty clearly "Won" the market for digital hard money.

Just like Amazon became the obvious winner of the e-commerce market years ago and yet still continues to gobble up share of this enormous potential market, Bitcoin still has very far to run.

Instead of a CEO-driven management team with a limited number of employees, Bitcoin is an open platform with thousands of brilliant, diligent software developers and entrepreneurs building on-ramps, applications, and additional useful products on top of Bitcoin.

Like the third-party merchants who provide the additional inventory that made Amazon the automatic destination to buy stuff on the internet, these thousands of talented people are turning Bitcoin into the automatic place to put your internet-based wealth.

So as an investment, Bitcoin today is roughly where Amazon was 15 years ago.

Bitcoin's value is likely to grow as dramatically in the next 15 years as Amazon's did in the previous 15.

Wealth managers who didn't buy bitcoin for their clients will be like those wealth managers who never bought Amazon: out of business.