A third of Americans to buy Bitcoin by end of 2022, says Ric Edelman
A third of Americans will own Bitcoin by the end of 2022, says financial advisor and author Ric Edelman. The rate is expected to rise over time as more people become comfortable with digital assets and cryptocurrencies.
Ric Edelman is an American financial expert and author. He believes that by the end of 2022, a third of Americans will be buying Bitcoin. The podcast he hosts is called “The Ric Edelman Podcast.”
Ric Edelman, a proponent of bitcoin and the CEO of Edelman Financial Engines, has offered some encouraging predictions regarding the future of the pioneering cryptocurrency.
On January 10, Edelman stated the following in an interview with CNBC’s ETF Edge:
“With 24 percent of Americans currently possessing Bitcoin, we have already reached a fourth of that total. The distance needed to get to one-third won’t be all that difficult. The use of bitcoin is spreading across society. It won’t go away since everyone is hearing about it everywhere.
While 2022 got off to a shaky start, in his opinion, there is significant institutional engagement in BTC thanks to investments from foundations, businesses, and pension funds.
Edelman has long supported cryptocurrencies and is the forthcoming author of “The Truth about Crypto.” He called Bitcoin the first “really new asset class” in 150 years in 2019 and advised investors to buy plenty of the orange currency in December 2018.
He expressed regret that despite having forecast a Bitcoin spot exchange-traded fund (ETF) for the previous seven years, he is certain that by 2023, there would be spot ETF clearance in a follow-up interview with CNBC.
Edelman asserts that the SEC is out of reasons to say no, in line with the views of American Securities and Exchange Commissioner Hester Peirce on the subject:
“The sector has addressed many of the SEC’s worries via its own maturity, innovation, and growth. There is no justifiable reason for the SEC to say no, therefore I am convinced that they will.
In the second interview, Bitwise Asset Management’s chief investment officer, Matthew Hougan, concurred with him.
Related: Has widespread acceptance of cryptocurrency already occurred? Part 1 of expert responses
According to Hougan, the “cumulative weight of the data that would drive them to go through with approval” would result in even stronger investor safeguards and a superior product. The SEC-run ETF’s provision of consumer protection is the icing on an already-slick cake.
Leaving aside ETF speculators, Edelman is prescient regarding the eventual monotony of Nakomoto’s creation. Bitcoin is “going to be as prevalent in the next couple of years as any other element of a portfolio,” he bluntly said.