Best-Selling Author Ric Edelman Doubles Down on $500,000 Bitcoin (BTC) Price Target As ‘Smart’ Investors Pile In

Personal finance author and investor Ric Edelman is detailing a massively bullish Bitcoin ( BTC ) prediction.

In a new interview with Natalie Brunell, Edelman says he believes BTC will increase more than 350% from its current value in less than five years as Bitcoin adoption accelerates and savvy investors buy the dip.

“I don’t believe we’re ever going to see a 70% or 80% drawdown again. I wouldn’t say never to a 40% or even a 50% [dip], but there are now so many institutional investors and sovereign wealth funds and hedge funds and family offices … these are smart people, and when you see a significant drop of 20% or 30% they’re going to recognize the buying opportunity for what it is, and that will put a floor unlike we’ve ever seen before. So sure, we’re going to continue to see volatility, but as the asset class matures, that volatility gets less and less.”

Edelman predicts more and more investors will add at least a small percentage of BTC to their overall investment portfolio, sending send Bitcoin to $500,000 by 2030.

“I’m actually pretty conservative. A lot of other folks say $1 million by 2030. [Founder and executive chairman of software firm Strategy] Michael Saylor says $5 million. But not too many others share their math. I do pretty openly. I’ll tell you very quickly and easily how I get there. If you take a look at the world’s global assets, the total value of everything, the value of stocks, bonds, real estate, gold, oil, commodities, you name it, add up the total value of everything, it’s about $800 trillion.

Now if you take the owners of all that stuff, you own a little bit of it, I own a little bit of it, we all own a little bit, if all the owners of all that stuff allocate just 1% of their portfolio to Bitcoin that would be a flow of $8 trillion. That would put Bitcoin at $500,000, simple as that.”

Bitcoin is trading for $111,087 at time of writing, up 2% in the last 24 hours.

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