Popular Financial Advisor Ric Edelman Says Investors Should Allocate Up to 40% of Wealth to Crypto
Main Idea
Financial advisor Ric Edelman recommends investors allocate up to 40% of their wealth to cryptocurrency, citing a stronger case for crypto exposure due to recent developments, though he suggests a more conservative 10% for those with lower risk tolerance.
Key Points
1. Ric Edelman, founder of the Digital Assets Council of Financial Professionals, advises allocating up to 40% of wealth to cryptocurrency, calling it a "massive change" from his previous recommendations.
2. In 2018, Edelman suggested allocating part of portfolios to bitcoin, and in 2021, he considered a 1% crypto allocation as "reasonable" for most people.
3. Edelman acknowledges that a 40% allocation may not suit everyone, recommending a more conservative 10% for those with lower risk tolerance.
4. Edelman Financial Engines, which he founded, manages nearly $300 billion in assets.
5. Edelman described crypto as the "best investment opportunity of the decade" but noted that many financial advisors currently recommend well under 5% crypto allocation to clients.
Description
Prominent financial advisor Ric Edelman says investors should consider putting as much as 40% of their wealth into cryptocurrency, a bold recommendation that reflects how far digital assets have come in recent years. “Today I am saying 40%, that’s astonishing,” Edelman told CNBC’s Crypto World on Friday. “No one has ever said such a thing.” Edelman, founder of the Digital Assets Council of Financial Professionals, has been active in crypto for over a decade. He first urged investors to allocate ...
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