Seasoned trader advises Gen Z on Bitcoin, crypto including ADA, NFTs and stocks, explains why he’s bullish on BTC
- “Contribute most savings to BTC”
- “Crypto is not yet proven”
Old-school commodities trader Peter L. Brandt, who’s been in the business since the ’70s — for about 50 years — took to Twitter to share investment advice with Gen Zers.
In particular, he mentioned Bitcoin and ADA.
“Contribute most savings to BTC”
In one of his recent tweets, Peter Brandt shared several recommendations for Gen Z students on how to build their careers and manage their savings/income.
In particular, Brandt advises them to choose a degree in a field where one can easily get a well-paying job and avoid student debt, if at all possible.
He also touched on the topic of investing, and that’s where he mentioned the largest cryptocurrency by market capitalization, Bitcoin. Brandt thinks Gen Z should allocate most of their savings to BTC, as well as stocks of strong companies, and then keep them.
Keep shopping and hope for cheap prices, he added in the tweet.
My advice to Gen Zers is
-Get a degree in a field with jobs
-Avoid student debt as much as possible
-Make sure you have a good job, think of mkts as a hobby
-Buying a house/getting married/being thrifty
-Contribute month. savings to $BTC & stks of strong companies – & HOLD
-Keep buying/hoping for cheaper prices
— Peter Brandt (@PeterLBrandt) March 10, 2022
A Twitter user asked Brandt how long he’s been bullish on Bitcoin, and the seasoned the trader replied that he has been bullish on BTC for years. However, he tries to be honest and not only share bullish signals when the charts reveal them.
Interestingly, in early March of this year, Brandt tweeted that he was against bitcoin hodling. He wrote that the asset saw four declines of around 80% and hodlers had to wait for a 400% recovery to reach the previous all-time high.
“Crypto is not yet proven”
In the thread, the trader received many questions from commenters. Responding to one, Brandt wrote that aside from Bitcoin, he believes in stocks more than cryptocurrencies, saying that “crypto is still untested” and that he prefers quality stocks.
He recommends avoiding the majority of altcoins, as well as NFTs (“jpgs”).
I am also very much in favor of rental income properties. Between quality stocks and crypto I prefer quality stocks. Crypto is still unproven IMO. Avoid 8hitcoins and jpgs. Let’s hope for a bear market so stocks can be bought cheaply.
In particular, he criticized Cardano’s native crypto token, ADA.