{"id":6964,"date":"2022-02-05T04:07:12","date_gmt":"2022-02-05T04:07:12","guid":{"rendered":"http:\/\/egrowonline.com\/?p=6964"},"modified":"2022-02-05T04:07:12","modified_gmt":"2022-02-05T04:07:12","slug":"crypto-assets-are-here-to-say-diversified-portfolios-should-have-crypto-exposure-featured-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=6964","title":{"rendered":"Crypto Assets Are Here to Say, Diversified Portfolios Should Have Crypto Exposure \u2013 Featured Bitcoin News"},"content":{"rendered":"


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U.S. Senator Pat Toomey says that crypto assets are here to stay and \u201ca thoroughly diversified portfolio should have some.\u201d The lawmaker added that he has a \u201cvery simple\u201d investing strategy \u2014 diversify.<\/strong><\/p>\n

US Lawmaker Says Crypto Is Here to Stay<\/h2>\n

U.S. Senator Pat Toomey talked about cryptocurrency on CNBC Wednesday. The senator was asked whether he was actively trading cryptocurrency. While admitting that crypto assets are part of his diversified investment portfolio, he clarified that \u201cActively trading would be a huge exaggeration.\u201d<\/p>\n

The senator from Pennsylvania explained:<\/p>\n

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Ever since I could accumulate any savings, I had a very simple strategy \u2014 diversify.<\/p>\n<\/blockquote>\n

He described that he is taking this strategy because he has been \u201cdoing other things rather than evaluating companies and picking stocks.\u201d<\/p>\n

Senator Toomey opined:<\/p>\n

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It seems to me that crypto assets are here to stay and a thoroughly diversified portfolio should have some.<\/p>\n<\/blockquote>\n

In June last year, Toomey disclosed<\/a> that he had invested in Grayscale Investments\u2019 bitcoin and ethereum trusts.<\/p>\n

The spokeswoman for the senator told Marketwatch that crypto makes up less than 1% of Toomey\u2019s overall investment portfolio.<\/p>\n

\u201cSince Senator Toomey first began accumulating savings years ago, he has believed the best approach for generating long-term wealth was to have a highly diversified investment portfolio,\u201d she detailed.<\/p>\n

Noting that \u201ccrypto has become a meaningfully-sized asset class,\u201d the spokesperson emphasized that \u201cmaintaining a well-diversified investment portfolio now means owning some crypto.\u201d<\/p>\n

Senator Toomey proceeded to explain:<\/p>\n

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I have always been an advocate for free markets, limited government, lighter regulation, lower taxes.<\/p>\n<\/blockquote>\n

He was also asked whether lawmakers should be able to invest in crypto assets when they have the ability to influence their regulation.<\/p>\n

Senator Toomey replied: \u201cWe have a very extensive disclosure regime. Every transaction has to be reported. All assets have to be reported. People can see what members of Congress do and they can draw their own conclusions.\u201d<\/p>\n

What do you think about Senator Pat Toomey\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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