Legendary Financial Advisor Predicts One Third of Americans Will Buy Bitcoin in 2022

Adoption & Regulations

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legendary financial advisor and best-selling author ric edelman says that roughly a third of americans will buy bitcoin before the end of 2022.

In 1986, Ric Edelman and his wife Jean Edelman established Edel Financial Services, a financial planning and investment management company. in 2018, edelman financial service merged with another financial advisory firm financial engines to form edelman financial engines. in 2018, 2019, and 2020, barron’s named edelman financial engines the best independent advisory firm in the u.s.

edelman is also the founder of ria digital assets council (riadac), the aim of which is to give “financial advisors the knowledge and skills they need to provide their clients accurate, relevant, timely and valuable advice about blockchain and digital assets.”

according to a report by cointelegraph, during an interview with cnbc’s “etf edge”, edelman claimed that bitcoin was on its way to reaching mainstream adoption amongst americans and investors. He told the show’s host that already 24% of americans own bitcoin and says that it wouldn’t “much of a stretch for it to get to one-third,” before the end of the calendar year.

edelman said:

bitcoin is becoming more and more mainstream. people are hearing about it everywhere — it isn’t going away.

Edelman, a long-time bitcoin bull and author of the soon-to-be-released book "the truth about crypto," said bitcoin saw "major institutional implication," in the form of companies, foundations and pension plans.

Edelman also predicted a Bitcoin-based swap fund would probably make its way to investors in 2022, if not next year. The senior financial advisor explained that he had predicted a Bitcoin ETF for seven years now, saying "someday I'll be right."

Edelman claimed that the u.s. securities and exchange commission (sec) was short of apologies for saying no to a bitcoin etf, and that market maturity and innovation in the field have addressed many of the sec's hesitations about approval.

edelman said:

One of the big concerns they raised, which President Gensler raised, is that they can't control it sufficiently. They can't control gold or petroleum either.