A couple of pensioners have invested all their savings in Bitcoin and Ethereum

An elderly couple in Britain say that their entire investment portfolio consists solely of Bitcoin and Ethereum (ETH). The couple disclosed this in a letter to The Telegraph.

«We are a couple—a retired female teacher, 61, and a still-working teacher, 57, with two financially independent adult children. Our net income amounts to £48,000 a year», the letter says.

In total, they hold £900,000 in Bitcoin in a cold wallet and £194,000 in Ethereum, as well as £150,000 in cash.

The pensioners approached the British publication for guidance, which was provided by investment expert Victoria Scholar. In response, she said that their portfolio «would give most financial advisers a heart attack.»

«To me, this resembles a time bomb that threatens you with losing these hard-earned funds if you do not take decisive action as soon as possible», Scholar warned.

She noted that the couple’s assets are not diversified and are exposed to high volatility. In her view, the pensioners should sell the digital assets, as this year’s crypto rally has allowed them to lock in profits.

Scholar recommended allocating 40% of the proceeds to a range of stocks and another 40% to bonds, and to consider purchasing property.

«Given Bitcoin’s triple-digit rise this year, it’s easy to see the appeal of cryptocurrencies. However, it’s harder to remember that there are serious risks that could threaten your wealth», she warned.

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

Author of the bestseller “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki also advised investing in precious metals and Bitcoin in the face of rising inflation in the United States.

In July, Flooring Hut, a British online carpet retailer, converted its monetary reserves into digital gold. The firm decided not to keep funds in a bank account, as Bitcoin may offer greater potential for returns.