Financial Advisor Ric Edelman Recommends 40% Wealth Allocation to Crypto
Financial advisor Ric Edelman recommends investors allocate up to 40% of their wealth to cryptocurrency, reflecting its evolution as an asset class.
- Edelman stated this recommendation during an interview on CNBC, marking a significant shift from his previous suggestions.
- He has been involved in crypto for over a decade and first suggested a bitcoin allocation in 2018.
- In his 2021 book "The Truth About Crypto," he considered even a 1% allocation reasonable.
- Edelman cites increased political support for digital assets and resolved regulatory uncertainties as key changes in the industry.
- His firm manages nearly $300 billion in assets, indicating a growing acceptance of crypto by traditional financial institutions.
- While he views crypto as a prime investment opportunity, he suggests a conservative 10% allocation for risk-averse investors.
- Most U.S. financial advisors currently recommend allocations under 5%.