$ 290b financial advisor Ric Edelman is raising a crypto allocation recommendation
Celebrity financial advisor Ric Edelman said investors should consider putting 40% of their wealth in cryptocurrency, a brave recommendation that reflects how far away digital ownership in recent years.
“Now I say 40%, it’s surprising,” Edelman said CNBC’s Crypto World on Friday. “Nothing said such a thing.”
Edelman, founder of the Digital Assets Council of Financial Professionals, has been active in Crypto for more than a decade. He first encouraged investors to provide part of their portfolios in Bitcoin
In 2018. In his 2021 book “The Truth About Crypto,” he described even a 1% crypto allocation as “rational” for most people.
Today, Edelman believes the case for crypto exposure is stronger, pointing out what he has called “massive change” in the industry for the past four years. In particular, he emphasized the growing political support for digital ownership, especially following the election of US President Donald Trump.
“Now, all of those questions are resolved,” said Edelman, which refers to the uncertainty in the regulation and the institutionalization of the institution. “It has been radically changed and is now a major owner.”
Edelman’s firm, Edelman Financial Engines, manages nearly $ 300 billion in property. Although traditionally known for planning retirement and wealth management, the company’s growing attention to digital assets reflects a broader trend in financial institutions that embrace Crypto as a legitimate type of property.
Although Edelman described Crypto as “best investment opportunity of the decade,” he acknowledged that a 40% allocation may not be suitable at all, suggesting a more conservative 10% for those with lower risk tolerance.
Edelman’s recommendation marked one of the most aggressive calls from a major financial figure to the present. Most US financial advisers are currently recommended properly under 5% of their clients.
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