Ric Edelman predicts Bitcoin to reach 500,000 dollars by 2030

Ric Edelman believes that Bitcoin could reach 500,000 dollars by 2030. In an interview with Bitcoin Magazine, he compared buying Bitcoin to buying Amazon shares in 1999. Edelman had previously recommended a 10% exposure to Bitcoin for conservative portfolios and 40% for aggressive ones, arguing that the cryptocurrency has outperformed all other asset classes over the past 15 years. In April, he stated that Morgan Stanley's Bitcoin ETF could accumulate 7 billion dollars in its first year. Currently, the MSBT holds 611 million dollars in Bitcoin, with positive inflows. Edelman reaffirmed his 500,000 dollar prediction, considering it low compared to other projections ranging from 1 million to 5 million dollars by 2035. He explained that if everyone allocated 1% of their assets to Bitcoin, it would result in a price of 500,000 dollars. Edelman also recalled facing resistance when discussing Bitcoin in 2013 and 2014.

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