Legendary financial advisor and best-selling author Ric Edelman recently shared with him the latest thoughts on Bitcoin during an interview with John Darsie, Managing Director of global thought leadership forum and networking platform SALT.
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 other financial advisory firm Financial Engines to form Edelman Financial Engines. In 2018, 2019, and 2020, Barron named Edelman Financial Engines the best independent advisory firm in the US
Edelman is also the founder of RIA’s Digital Asset Council (RIADAC), whose mission is to provide financial advisers with the knowledge and skills they need to provide their clients with accurate, relevant, timely and valuable advice about blockchain and assets digital. “
In an interview published last Tuesday (December 15) on the SALT YouTube Channel, as part of SALT Talks (“an ongoing series of digital interviews with investors, creators and leading thinkers of the world”), Edelman talked about why financial advisers bring more interested. in Bitcoin and why we are likely to see more and more large organizations (such as pension funds and insurance companies) investing in Bitcoin.
According to a report by The Daily HODL, in relation to the previous group, he said:
“Bitcoin and the external potential of earnings remain very much inverted potential. The stock market makes 10% in a year. Bitcoin usually moves up or down 10% in a day. And so it is potential for external earnings. This is the largest performing asset class in the last one, three, five and ten years since its inception and many believe it is still in its infancy. So there’s a huge opportunity for that …
“The main reason that advisers say they are interested in this is that Bitcoin is disconnected. Its price movements have nothing to do with anything else, not with the bond market stock market, interest rates, inflation rates, economic policy, Fed action, nothing. And if you really believe in diversification, you want unrelated assets and even better without correlation in your portfolio. ”
And as for the latter group, Edelman had this to say:
“The conversation is moving from ‘You are clear if you own it,’ to ‘You’re obvious if you don’t’ and I think that trend is going to continue even further. Now you can buy Bitcoin at PayPal and you have MicroStrategy for example investing over half a billion…
“We’re obviously in an environment where Bitcoin is now mainstream, and this is legitimizing the asset, and this will continue to have a snowball effect where people will start to realize it’s normal, just as it is the gold ETF made gold its usual asset for portfolio diversification. The first two weeks that ETFs raised a billion dollars. So yes, I think we will continue to see widespread diversification and more mainstreaming by institutions, endowments, pension fund insurance companies and the like. “
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.