"If I'm down 40% for clients they're burnin up my phone, if I'm down 50% they're out, if I'm down 60% or 70% it's a potential fiduciary liability - a potential lawsuit. Advisers are aware of that," Willis, co-founder of ONEFUND, said.
"It's loyalty. It's laziness. And the other side is bitcoiners don't want to go to BlackRock or Fidelity - they want to keep it in the community," Willis said.
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