From Newsgroup: alt.buddha.short.fat.guy

rCyBitcoin is not an asset classrCO: UKrCOs biggest investment platform has a stark warning for investors:

Apparently, the U.K.rCOs biggest retail investment platform, Hargreaves Lansdowne, has urged traders to exercise caution on cryptocurrencies.

rCLThe HL Investment view is that bitcoin is not an asset class, and we do
not think cryptocurrency has characteristics that mean it should be
included in portfolios for growth or income,rCY the firm said.

A longstanding U.K. ban on retail investors being able to access crypto exchange-traded notes (ETNs) was lifted on Oct. 8.

A major trading platform in the U.K. has issued a stark warning to
investors hoping to cash in on relaxed crypto rules: cryptocurrencies
should not be in your portfolio.

A longstanding U.K. ban on retail investors being able to access crypto exchange-traded notes (ETNs) was lifted on Oct. 8. Exchange-traded notes
are debt instruments linked to one or more specified assets. In this
case, they give traders exposure to digital tokens through the use of a regulated exchange.

The new rules sparked a warning from Hargreaves Lansdowne
rCo the U.K.rCOs biggest retail investment platform rCo which urged British retail investors to be cautious.

rCLThe HL Investment view is that bitcoin is not an asset class, and we do
not think cryptocurrency has characteristics that mean it should be
included in portfolios for growth or income and shouldnrCOt be relied upon
to help clients meet their financial goals,rCY Hargreaves Lansdowne said
in a statement.

rCLPerformance assumptions are not possible to analyse for crypto, and
unlike other alternative asset classes it has no intrinsic value.rCY

The government also ruled on Wednesday that investors will be able to
hold crypto ETNs in stocks and shares ISA accounts, an account where up
to -u20,000 ($26,753) a year can be invested tax-free.

Big gains, and big losses

Cryptocurrencies, which are decentralized and therefore not regulated by central authorities like governments, have their critics and prices are notoriously volatile. In 2022, a so-called rCLcrypto winterrCY saw investors lose $2 trillion. Bitcoin

rCo the most commonly traded cryptocurrency rCo has led to major returns
for early investors, however, and was last seen trading around $121,508.

- CNBC

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