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3 Questions for Thomas von Finanzfluss – What Does He Think of Crypto?

admin by admin
August 12, 2022
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Thomas Kehl
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Meanwhile, Finanzfluss has cracked the one million followers. However, the former investment banker is also highly successful in analogue education. With his mirror bestseller “The only book you Should read About Finance”, he defended the pole position for several weeks.

Why cryptocurrencies did not make it into his book, what his personal relationship with Bitcoin is and what his personal crypto portfolio looks like, he told us in a personal interview.

You’ve been running your YouTube finance channel for six years. What has changed the most for you in the financial world during this time?

Thomas Kehl: I think the financial world has become much more accessible. At that time, the order fees were still quite high and the creation of a broker account was also quite cumbersome and paper-heavy in parts. Today, you simply download an app to your smartphone and can get started after a few digital login steps. This ease of use and the associated lowering of hurdles is already a very positive trend.

Now your book is entitled ”The only book you should read about Finance”. How does it fit together that cryptocurrencies do not occur in it? Have you forgotten something?

Thomas Kehl: Yes (laughs), I have to justify myself more often for that. We also asked ourselves the question of whether we should take Bitcoin with us. In the end, however, we decided against it, because we come from the traditional financial sector and that is where our strength lies and not so much with the many cryptocurrencies. Our goal was to understand the basics of the financial market, such as “What are stocks?” or “How does a stock market work?”, explain. And for this basic financial market know-how, cryptocurrencies are not a must. Also, the risk for newcomers is quite high compared to broadly diversified stock portfolios, so only conditionally suitable for any type of investor. Who knows, maybe there will still be a book from us in the future where crypto also appears in it.

More and more traditional financial service providers and banks are interested in crypto services. What do you think is their motivation?

Thomas Kehl: I think that you can earn a lot of money as a financial intermediary due to customer demand. In the crypto sector, you have spreads that would be unthinkable in the equity sector. While a spread of one percent is perfectly normal for cryptocurrencies, this would be far too expensive for trading blue chip stocks.

Disclaimer: The full interview with Thomas von Finanzfluss was first published in the April issue of BTC-ECHO magazine. This way to the shop.

 

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