TechFlow news, June 30 — According to CNBC, prominent financial advisor Ric Edelman recently stated on CNBC's "Crypto World" program that cryptocurrency allocations in investment portfolios could be as high as 40%, a stark contrast to his previous recommendation of just 1% in his 2021 book "The Truth About Crypto."
As chairman of the Digital Assets Council of Financial Professionals, Edelman explained that four years ago, there was uncertainty about whether governments would ban Bitcoin, whether the technology would fail, or whether institutions would adopt it. "Today, all these issues have been resolved—cryptocurrencies have become mainstream assets."
Edelman noted that Bitcoin's price movements are uncorrelated with traditional assets, making it a powerful tool for portfolio diversification and improving risk-adjusted returns. He believes the crypto asset class offers "a higher return potential than almost any other asset class," and described market expectations for Bitcoin reaching $150,000 to $250,000 by year-end as "relatively conservative."
Ric Edelman is a co-founder of Edelman Financial Engines, a firm managing over $290 billion in assets.
