Legendary financial advisor and best-selling author Ric Edelman says that roughly a third of Americans will buy Bitcoin before the end of 2022.
In 1986, Ric Edelman and his wife Jean Edelman founded the financial planning and investment management firm Edel Financial Services. In 2018, Edelman Financial Service merged with another financial advisory firm Financial Engines to form Edelman Financial Engines. In 2018, 2019, and 2020, Barron’s named Edelman Financial Engines the best independent advisory firm in the U.S.
Edelman is also the founder of RIA Digital Assets Council (RIADAC), the aim of which is to give “financial advisors the knowledge and skills they need to provide their clients accurate, relevant, timely and valuable advice about blockchain and digital assets.”
According to a report by Cointelegraph, during an interview with CNBC’s “ETF Edge”, Edelman claimed that Bitcoin was on its way to reaching mainstream adoption amongst Americans and investors. He told the show’s host that already 24% of Americans own Bitcoin and says that it wouldn’t “much of a stretch for it to get to one-third,” before the end of the calendar year.
Bitcoin is becoming more and more mainstream. People are hearing about it everywhere — it isn’t going away.
Edelman, a long-time Bitcoin bull and author of the soon-to-be-released book “The Truth About Crypto,” claimed that Bitcoin was seeing “major institutional involvement,” in the form of corporations, foundations and pension funds.
Edelman also predicted a Bitcoin-based exchange-traded fund would likely make its way to investors in 2022, if not next year. The top financial advisor explained that he has been predicting a Bitcoin ETF for seven years now, saying “one day I’m going to be right.”
Edelman argued the U.S. Securities and Exchange Commission (SEC) was running running out of excuses to say no to a Bitcoin ETF, and that market maturity and innovation in the field have addressed many of the SEC’s hesitations around approval.
One of the big concerns that they raised, that Chairman Gensler has raised, is that they can’t control it well enough. Well, they can’t control gold or oil, either.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Photo by user MichaelWuensch via Pixabay.com
Source: Read Full Article