Bitcoin as a Tool for Farm Succession?

This is Tim Hammerich of the Ag Information Network with your Farm of the Future Report.

Passing the farm from generation to generation isn’t always straightforward, especially when some children want to farm and others don’t. Strategist Vance Crowe offers a solution that many might find surprising: Bitcoin. Crowe believes Bitcoin can provide value to non-farming heirs while keeping farmland intact for those who want to farm it.

 Crowe… “There's usually one or two kids that wants the property, and then there's a couple of kids that that's not what they're doing. And so for now, you know, one of the solutions is, well, we just divide it up evenly and give them all for an even shake. Or we have one child that tries to buy out that land from the other ones. And there's challenges with that too. And I think something like Bitcoin is a way for people to be able to make investments into a finite asset. That will allow them to be able to leave something to the children that are not gonna stay in farming and still be able to keep the farmland together so that whoever does keep it gets to have a large enough amount of land to be able to have something valuable. And then in the future, what's going to happen in terms of, you know, technology and pricing and exports, nobody knows, but the people that will be the best prepared are the ones that are willing to go try something that's difficult and feels uncomfortable, but those are the people that will be the black belts in the new future.”

Crowe recommend everyone take a look at new technologies to see if they might fit your values and your operation.