A third of Americans to buy Bitcoin by end of 2022, says Ric Edelman

Bitcoin
(BTC)
bull
and
Edelman
Financial
Engines founder
Ric
Edelman
has
made
some
promising
predictions
about
the
future
of
the
seminal
cryptocurrency.

In
an
interview
on
CNBC
program
ETF
Edge
on
Monday,
Edelman

said
:

“We’re
already
at
a
quarter
of
that
number
with
24%
of
Americans
owning
Bitcoin.
It
won’t
be
that
much
of
a
stretch
for
it
to
get
to
one-third.
Bitcoin
is
becoming
more
and
more
mainstream.
People
are
hearing
about
it
everywhere

it
isn’t
going
away.”


While
2022
has
gotten
off
to
a
rocky
start
,
in
his
view,
governments,
corporations,
foundations
and
pension
funds
are
investing
in
Bitcoin:
“There
is
major
institutional
involvement.”

As
the
author
of
soon-to-be-released

The
Truth
About
Crypto
,
Edelman
is
a
long-standing
crypto
proponent.
In
2019,
he
described
Bitcoin
as
the

first
“genuinely
new
asset
class”
in
150
years
,
and
back
in
December
2018,
he

recommended
that
investors
load
up

on
the
orange
coin.

In
a
follow-up
interview
with
CNBC on
Tuesday,
he

lamented

that
while
he
has
predicted
a
Bitcoin
spot
exchange-traded
fund
(ETF)
for
the
past
seven
years,
he’s
convinced
that
by
2023,
there
will
have
been
spot
ETF
approval.

Similar
to
United
States
Securities
and
Exchange
Commissioner
Hester

Peirce’s
thoughts
on
the
matter
,
Edelman
articulates
that
the
SEC
is
running
out
of
excuses
to
say
no:

“A
lot
of
the
concerns
the
SEC
has
have
been
resolved
by
the
industry
through
their
own
maturity,
innovation
and
development.
I
am
confident
that
we
will
see
the
SEC
say
yes
because
there
is
no
legitimate
reason
for
them
not
to.”

Matthew
Hougan,
chief
investment
officer
of
Bitwise
Asset
Management,
agreed
with
him
in
the
second
interview.



Related: Crypto
mainstream
adoption:
Is
it
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already?
Experts
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Part
1

Hougan
stated
that
there
would
be
even
more
investor
protections
and
a
better
product
thanks
to
the
“cumulative
weight
of
the
evidence
that
will
force
them
to
move
forward
with
approval.”
Consumer
protection
provided
by
an
SEC-run
ETF
is
the
cherry
on
top
of
a
slick
product.

ETF
speculation
aside,
Edelman
is
clairvoyant
about
the
banality
of
Satoshi
Nakamoto’s
invention
in
the
future.
He
summed
it
up
succinctly,
saying
Bitcoin
is
“going
to
be
as
common
in
the
next
couple
of
years
as
any
other
portion
of
a
portfolio.”

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