British Retirees Risk Losing All Savings by Investing in Bitcoin and Ethereum

A British couple of retirees have invested all of their savings in Bitcoin and Ethereum. Their investment portfolio, consisting of cryptocurrencies worth £1.284 million, has raised concerns among financial experts.

The couple, a retired teacher (61) and a still-working lecturer (57), with two grown-up independent children, said their net income is £48,000 a year. They hold Bitcoin worth £900,000 and Ethereum worth £194,000, as well as £150,000 in cash.

Investment expert Victoria Skolar said that such a portfolio would "give most financial advisors a heart attack."

"To me, it's like a ticking time bomb that exposes you to the risk of losing these hard-earned funds if you don't take immediate action," Skolar said.

She advised the retirees to diversify their portfolio by including more reliable assets, such as stocks, bonds, and real estate.

Earlier, Eight trading platform founder Michael van de Poppe urged market participants to "take" their money out of banks and invest it in hard assets such as gold, silver, Bitcoin, and other cryptocurrencies.

Rich Dad Poor Dad author and entrepreneur Robert Kiyosaki also advised investing in precious metals and Bitcoin amid rising inflation in the United States.

In July, British carpet retailer Flooring Hut converted its cash reserves into digital gold. The company decided not to keep the funds in a bank account as Bitcoin could offer a better potential for generating income.

Retirees who have invested all of their savings in Bitcoin and Ethereum are at risk of losing their money. Financial experts recommend diversifying their portfolio by including more reliable assets.