SHOULD I HAVE CRYPTO IN MY PORTFOLIO?

It’s a question I hear often, especially from investors under 50…

“Should I have crypto in my portfolio?”

And while many want a clean yes or no, the truth is the answer isn’t binary.

Crypto has undeniably earned a seat at the table. It’s tracked on every financial terminal. Covered by every

major outlet. Offered by institutions that once scoffed at it. That doesn’t make it “safe,” but it does make it relevant. And anything that captures this much attention in the investment world deserves to be understood.

But let’s be clear about what crypto is… and what it isn’t.

WHAT IS CRYPTO?

Crypto is not a stock.
It doesn’t produce income.
It doesn’t generate dividends.
It offers no ownership stake in a business or stream of cash flows.

Its value is not rooted in productivity but in perception.
It is not ownership of a business.
It is ownership of belief.

That doesn’t make it worthless… But it does make it speculative.

And speculation when misunderstood, often disguises itself as conviction.

Between late 2021 and mid-2022, Bitcoin surged above $67,000 and then collapsed below $20,000.

What changed?

Not its cash flow. It doesn’t have any.
Not its earnings. It doesn’t produce them.
The only thing that changed was sentiment.

And when price is driven purely by narrative, without a rational anchor, volatility becomes the norm, not the exception. It’s not a question of valuation—it’s a question of belief.

That makes crypto tradable, but not foundational.

CRYPTO ≠ BLOCKCHAIN

It’s also worth noting that investing in crypto is not the same as investing in blockchain.

Blockchain is the underlying technology behind crypto, offering potential in areas like supply chain management, digital contracts, and secure identity verification. It’s innovative and potentially transformative.

But buying Bitcoin or Ethereum does not give you ownership in that innovation. You’re not buying shares in the technology, you’re buying a token whose value is determined entirely by supply, demand, and sentiment.

HAS REGULATION CHANGED THE GAME?

The rise of Bitcoin ETFs and growing institutional access has created the perception that crypto is now “safe” or “legitimized.”

But access doesn’t equal advisability.

Even when offered by trusted platforms, speculative assets remain speculative.
Institutions offering access doesn’t eliminate volatility or risk, it simply opens the door.

Regulation may improve transparency and reduce some fraud, but it doesn’t change the underlying nature of crypto…

It remains a belief-driven asset.

BEFORE YOU REACH FOR SPECULATION, BUILD THE FRAME

We see it far too often… portfolios reaching for edge when the essentials are still unaddressed.

No emergency fund.

No estate plan.

No clarity on goals.

It’s like building a house and starting with the rooftop deck before laying the foundation.

You don’t build the rooftop before the frame.

SO, WHERE DOES IT FIT?

Crypto is not evil. But it’s also not essential. It’s a tool.

Like a high-performance vehicle, it can take you somewhere fast. But without a disciplined driver and a clear destination, it’s more thrill ride than transportation.

For some, it’s a small satellite position in a diversified portfolio. For others, it’s a curiosity that never gets added. And for many, it becomes a distraction from the core work of building real wealth.

HAVE YOU BUILT THE FRAME FIRST?

Before even asking if crypto belongs in your portfolio, ask whether the foundation has been built. Here’s a quick checklist to help assess that:

Checklist:

• I have 3–6 months of emergency savings.
• I’ve paid down or eliminated high-interest debt.
• I’m maxing out or contributing consistently to retirement accounts.
• I have basic insurance protections (life, disability, and umbrella).
• I have a clear investment strategy tied to goals and timelines.
• I understand the risk of loss and can stomach volatility.
• I view crypto as a potential tool, not a core strategy or belief system.

THE BOTTOM LINE… DON’T CONFUSE THRILL WITH STRATEGY

Speculation isn’t wrong. In fact, disciplined speculation can have a place, after the essentials are built and the purpose is clear.

But wealth isn’t built by chasing headlines or leaning into hype. It’s built through structure, discipline, and intentional planning.

So when someone asks, “Should I have crypto in my portfolio?” my response is usually this:

“Let’s back up. Tell me why you want to. What’s the goal? What does your wealth foundation look like? Because if we are chasing edge without a solid frame underneath, we’ve got work to do first.”

CRYPTO ISN’T A STARTING POINT

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Prior to making an investment decision, please consult with your financial advisor about your individual situation. ETF shareholders should be aware that the general level of stock or bond prices may decline, thus affecting the value of an exchange-traded fund. Although exchange-traded funds are designed to provide investment results that generally correspond to the price and yield performance of their respective underlying indexes, the funds may not be able to exactly replicate the performance of the indexes because of fund expenses and other factors.The prominent underlying risk of using crypto currency as a medium of exchange is that it is not authorized or regulated by any central bank. Cryptocurrency issuers are not subject to the protections or insurance provided by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation, not registered with the SEC, and the marketplace is currently unregulated. Cryptocurrencies are a very speculative investment and involves a high degree of risk. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment, and a potential total loss of their investment. Any opinions are those of Austin Storck and not necessarily those of Raymond James.