Bitcoin has been under the spotlight for a while now, and the mainstream media picked up all kinds of subjects related to the king coin ever since it was able to break ATH this year.
Now, it’s been revealed that Ric Edelman, the investment icon who was also named the country’s top financial advisor by Barron’s three times over, has something important to say about Bitcoin.
He says the conversations about Bitcoin are doing a 180-degree turn as more institutions are investing in the king coin.
Bitcoin is attracting financial advisors
During an episode of SALT Talks, Edelman highlighted that Bitcoin begins to attract financial advisors for more reasons.
“The upside potential remains very, very big for Bitcoin, and it is the outsized potential of returns. The stock market makes 10% in a year. Bitcoin routinely moves up or down 10% in a day. And so it is the potential for outsized returns. It is the number one performing asset class of the last one, three, five, and ten-year periods since inception and many people believe it’s still in its infancy. So there’s a tremendous opportunity for that…” he said.
He explained that the first reason for which advisors are saying that they are interested in this is the fact that Bitcoin is not correlated.
The price movements of the coin don’t have anything to anything else, “not with the stock market the bond market, interest rates, inflation rates, economic policy, Fed action, nothing.”
He made sure to point out the fact that if you believe in diversification, you definitely must have uncorrelated assets in your portfolio.
He also said that as big institutions hop in the BTC wagon, a massive legitimization of the leading cryptocurrency will take place.
He also made sure to talk about BTC risks involving technical aspects, regulatory risks and more.