According to Deep Tide TechFlow, on June 30, renowned financial advisor Ric Edelman stated on a CNBC program that the allocation of cryptocurrency in a portfolio could be as high as 40%. This contrasts with his recommendation of 1% in 2021.
Edelman explained that four years ago, the market was skeptical about the regulation, technology, and institutional adoption of Bitcoin. These issues have now been resolved, and cryptocurrency has become a mainstream asset. He believes that Bitcoin is uncorrelated with traditional assets and is a powerful tool for portfolio diversification.
Edelman also pointed out that the cryptocurrency asset class offers higher return opportunities, and the market's prediction of Bitcoin reaching $150,000 to $250,000 by the end of the year is relatively conservative. He is one of the founders of Edelman Financial Engines, a company that manages over $290 billion in assets.