Recent study suggests that a third of Americans can invest in Bitcoin by end of 2022

The future’s vibrant for Bitcoin according to Ric Edelman, founder of financial advisory outfit Edelman Financial Engines.

Bitcoin bull and founder of Edelman Financial Engines Ric Edelman has made some promising predictions about the future of the seminal cryptocurrency.

In an interview on CNBC application ETF Edge on Jan. 10, Edelman said:

“We’re already at a quarter of that variety with 24% of Americans proudly owning Bitcoin. It won’t be that much of a stretch for it to get to one-third. Bitcoin is becoming more and extra mainstream. People are hearing about it everywhere–it isn’t going away.”

While 2022 obtained off to a rocky start, In his view, governments, corporations, foundations, pension funds are investing in BTC: “there is fundamental institutional involvement.”
As the creator of soon-to-be-released “The Truth about Crypto,” Edelman is a long-standing crypto proponent. In 2019, he described Bitcoin as the first “genuinely new asset class” in one hundred fifty years, and lower back in December 2018, he encouraged that traders load up on the orange coin.
In a follow-up interview with CNBC yesterday, he lamented that whilst he has predicted a Bitcoin spot exchange-traded fund (ETF) for the past seven years, he’s satisfied that by 2023, there will be spot ETF approval.

Similar to U.S. Securities and Exchange Commissioner Hester Peirce’s ideas on the matter, Edelman articulates that the SEC is walking out of excuses to say no:
“A lot of the concerns the SEC has have been resolved through the enterprise through their personal maturity, innovation and development. I am confident that we will see the SEC say yes due to the fact there is no respectable purpose for them no longer to.”
Matthew Hougan, chief investment officer at Bitwise Asset Management agreed with him in the second interview.

Hougan mentioned that there would be even extra investor protections and a better product thanks to the “cumulative weight of the proof that will force them to pass forward with approval.” Consumer safety supplied by an SEC-run ETF is the cherry on top of a slick product.
ETF hypothesis aside, Edelman is clairvoyant about the banality of Nakomoto’s invention in the future. He summed it up succinctly; Bitcoin is “going to be as common in the next couple of years as any different component of a portfolio.”

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Leave a Comment

Your email address will not be published. Required fields are marked *

Facebook
Twitter
Telegram

Recent Posts

Follow Us