Ric Edelman is a highly regarded investor, financial advisor and the chairman of Edelman Financial Services, LLC. Now Edelman seems to be going all in on cryptocurrency as he just joined the crypto investment firm Bitwise Asset Management.
The move to cryptocurrency by top Wall Street influencers like Edelman is becoming more common as the industry continues to poach top talent from leading financial institutions such as Barclays and Goldman Sachs.
Edelman also just appeared on CNBC’s Fast Money and said that every financial advisor and investment firm should consider devising a cryptocurrency strategy and shift some of their money to Bitcoin.
“I’m bullish on it because Bitcoin is now ten years old, it is a $200 billion market and Bitcoin is about 40 percent of that. Clearly, it is here to stay. There is a massive amount of investment going into the blockchain and crypto assets, and financial advisors really don’t know much about it, no more than their clients do.”
Edelman believes that technological and financial revolutions are in their early stages while the cryptocurrency space prepares and provides the infrastructure for the decentralized peer to peer movement to come to fruition.
As blockchain technology and digital assets cement their positions in society and the financial world, Edelman intends to set out on a mission to educate the public on cryptocurrency and spread awareness on its many uses. Ultimately, these technologies will have to be in the hands of ordinary people, and be used for everyday tasks for cryptocurrency to take off and mass adoption to take place.
As Edelman points out, even many people with significant cryptocurrency investments have little idea of how to use cryptocurrency or how it works. During this confusing period of pre-adoption, the informed and crypto savvy investor has a huge advantage.
As leading financial influencers like Edelman continue to pour into the cryptocurrency sector, the overall attitude towards the new technology will become more positive and optimistic and the state of blockchain and crypto education will be taken to new levels.