The RBC perspective on Bitcoin

February 13, 2021 | Nick Scholte

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Find attached an exceptional piece of thought leadership on the investment merits and role of digital currencies - particularly Bitcoin - in the current and future economy.

To my clients:

It was an up week for North American stock markets with the Canadian TSX finishing up 1.8%; the U.S. Dow Jones Index up 1.0%; and the U.S. S&P 500 up 1.2%.

Switching things up this week. Clients will know that I have been personally writing these updates for well over a decade, and posting them to my website for the last 2 years. I always try to find and express my own voice. I think it is important for clients know that their Portfolio Manager is speaking directly to them. Undoubtedly though, as an employee of RBC Dominion Securities, I am influenced by the thought leadership and research internal to our firm. Occasionally, an exceptionally strong piece is published which I feel is best presented to clients “as is”, without any editorializing or parsing by myself. Today RBC published just such an article and, based upon periodic inquiries from my clients, it is likely to be topical and of interest to many. The topic? Bitcoin.

I suppose I feel compelled to add one comment of my own – that I have no intention to add bitcoin or digital currency investments to client portfolios any time soon. Per the attached article, I still view these to be speculative and “momentum” style investments that are not in keeping with the more conservative mandates my clients typically seek from me. That said, I can see the arguments both for, and against, digital currencies over the long-term. The article is available by clicking this link: What's Happening with Bitcoin?

That’s it for this week. All the best, and stay safe,

Nick

Nick Scholte, CIM, FCSI

Vice-President & Portfolio Manager

Scholte Wealth Management
RBC Dominion Securities Inc. │ Tel: 604.257.7569 │ Fax: 604.235.9950
3200-1055 West Georgia │ Vancouver, BC │ V6E 3P3
Toll Free: 1.844.665.9900 │Email: nick.scholte@rbc.com

Visit Our Website: www.nickscholte.ca

We accept new clients primarily by referral from our existing clients. If you have family or friends who would be a good fit for our specialized wealth management services, please let us know.

Any recommendations herein are for the exclusive use of clients of RBC Dominion Securities and Investment Advisor Nick Scholte. Any other direct or indirect recipient of this email should consult with his/her own licensed investment advisor prior to implementing any investment action he/she may be contemplating.

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