Personal finance author and investor Ric Edelman is detailing a massively bullish Bitcoin (BTC) prediction.

In a new interview with Natalie Brunell, Edelman says he believes BTC will increase more than 350% from its current value in less than five years as Bitcoin adoption accelerates and savvy investors buy the dip.

“I don’t believe we’re ever going to see a 70% or 80% drawdown again. I wouldn’t say never to a 40% or even a 50% [dip], but there are now so many institutional investors and sovereign wealth funds and hedge funds and family offices … these are smart people, and when you see a significant drop of 20% or 30% they’re going to recognize the buying opportunity for what it is, and that will put a floor unlike we’ve ever seen before. So sure, we’re going to continue to see volatility, but as the asset class matures, that volatility gets less and less.”

Edelman predicts more and more investors will add at least a small percentage of BTC to their overall investment portfolio, sending send Bitcoin to $500,000 by 2030.

“I’m actually pretty conservative. A lot of other folks say $1 million by 2030. [Founder and executive chairman of software firm Strategy] Michael Saylor says $5 million. But not too many others share their math. I do pretty openly. I’ll tell you very quickly and easily how I get there. If you take a look at the world’s global assets, the total value of everything, the value of stocks, bonds, real estate, gold, oil, commodities, you name it, add up the total value of everything, it’s about $800 trillion.

Now if you take the owners of all that stuff, you own a little bit of it, I own a little bit of it, we all own a little bit, if all the owners of all that stuff allocate just 1% of their portfolio to Bitcoin that would be a flow of $8 trillion. That would put Bitcoin at $500,000, simple as that.”

Bitcoin is trading for $111,087 at time of writing, up 2% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The influential financial advisor who wrote the 2021 book “The Truth about Crypto” is reportedly increasing his recommended investment allocation for crypto.

CNBC reports that Ric Edelman, who previously said that allocating as much as 1% to crypto was reasonable, is now saying that financial advisors should recommend allocating between 10% and 40% to digital assets. 

Says Edelman in an interview with CNBC’s Crypto World, 

“Today I am saying 40%, that’s astonishing. No one has ever said such a thing.”

The founder of the Digital Assets Council of Financial Professionals is now more bullish on crypto assets amid the massive changes in the industry.

According to Edelman, Bitcoin and the broader crypto space faced numerous uncertainties four years ago – from the possibility of government bans on BTC, to concerns about blockchain technology becoming obsolete, to questions about whether digital asset adoption would gain meaningful traction.

“Today, all those questions have been resolved. It’s radically changed and is now a mainstream asset.”

Edelman also says that Bitcoin and crypto should play a bigger role in long-term investment strategies as life expectancy in the US increases.

According to the financial advisor, allocating 60% in stocks and 40% in bonds no longer works, given that Americans can live up to 85 today, or even much older with advances in tech and medicine. 

“If you’re a financial advisor and you had a 30-year-old client who was saving for their long-term future, you would tell them to put 100% of their money in stocks, because they have 50 years to go. Today’s 60-year-old is kind of like yesterday’s 30-year-old.

You need to get better returns than you can get from bonds, and you need to hold equities longer than ever before.”

Edelman notes that Bitcoin is a great portfolio diversifier as it doesn’t appear to be correlated with the performance of other asset classes. He also says that digital assets tend to outperform stocks, bonds, gold and others.

“Bitcoin prices don’t move in sync with stocks or bonds or gold or oil or commodities… The crypto asset class offers the opportunity for higher returns than you’re likely to get in virtually any other asset class.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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