According to a report by Deep Tide TechFlow, on June 30, renowned financial advisor Ric Edelman stated in a CNBC program that the allocation of cryptocurrency in a portfolio can 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, but these issues have now been resolved, and cryptocurrency has become a mainstream asset. He believes 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 market predictions of Bitcoin reaching between $150,000 and $250,000 by the end of the year are relatively conservative. He is one of the founders of Edelman Financial Engines, which manages assets exceeding $290 billion.