Renowned financial advisor Ric Edelman maintains his groundbreaking cryptocurrency investment strategies, even as Bitcoin falls below $90,000. He recommends buying the asset at its current price, emphasizing the long-term investment potential in a volatile market. Edelman’s 10%-40% crypto allocation recommendations have disrupted traditional financial advisory practices.

Edelman, co-founder of Edelman Financial Engines, now advocates for higher crypto allocations due to improved regulatory clarity and institutional engagement. Bloomberg Senior ETF Analyst Eric Balchunas lauds Edelman’s endorsement of crypto as significant in the traditional finance world. Bitcoin’s market surge and subsequent struggles reflect broader economic uncertainties.

Institutional investors’ growing interest in cryptocurrencies, highlighted by Harvard University’s $116 million investment in Bitcoin, fuels Edelman’s confidence in the asset’s long-term growth. Despite recent price fluctuations, Edelman remains optimistic, citing widespread adoption by traditional finance and Fortune 500 companies. He views current market trends as routine and indicative of Bitcoin’s mainstream acceptance.

Edelman predicts Bitcoin’s market cap to reach $19 trillion, emphasizing the asset’s maturation and mainstream status. He highlights institutional investors’ increasing acceptance of Bitcoin as a positive sign for its stability and growth. Edelman’s unwavering confidence in crypto’s future underscores the evolving landscape of digital assets in traditional finance.

Read more at Yahoo Finance: Buy the Bitcoin Dip? Why Ric Edelman Still Thinks Portfolios Should Hold Up to 40% Crypto