Rick Edelman advised asset managers to invest in cryptocurrencies

The founder of Edelman Financial Engines believes that asset managers need to invest in cryptocurrenciesfrom 1% to 2% of the portfolio.

Ric Edelman emphasized thatit’s worth investing in digital assets only when the client understands the blockchain, is able to not touch the investment for several years to offset the risk of drawdown, and is also ready for the possibility of losing everything.

“Bitcoin is worthy of attention and can be added toyour portfolios. What is the likelihood of increased volatility of the first cryptocurrency in the future? You need to ask about this, but financial advisers rarely think about it, ”says Edelman.

Asset Manager Expects ExpansionBitcoin usage around the world. He recalled that some candidates even raise funds in BTC for their election campaigns. In addition, some charitable foundations accept donations in bitcoins.

Edelman also touched on the topic of blockchain. In his opinion, it is this technology that will help get away from an economy built on trust. It can provide an opportunity to get rid of intermediaries of various kinds.

Last February, the founder of EdelmanFinancial Engines expressed the opinion that traded exchange-traded funds for bitcoin (ETF) will begin work at some point. He is confident that such funds will be approved, the only question is when this will happen.

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