Ric Edelman: Buying Bitcoin Today Is Like Buying Amazon in 1999

According to reporting by Bitcoin Magazine, top financial advisor and Edelman Financial Engines founder Ric Edelman has compared purchasing bitcoin today to investing in Amazon in 1999. Speaking to Bitcoin Magazine TV, Edelman stated that just as nobody argues over investing in Amazon now, bitcoin will follow the same trajectory in the future.

Edelman predicted that the leading cryptocurrency's price will reach at least $500,000 by 2030, noting that this figure is based on a global asset allocation of 1%. He added that his prediction may turn out to be conservative and could be surpassed even earlier than 2030. Recently, bitcoin was priced at nearly $76,522 following a 1% increase over a 24-hour period, after previously trading below $65,000 and below its October record of $126,080.

Reflecting on his past advocacy, Edelman recalled being mocked and booed off stages in 2013 and 2014 when he urged financial services colleagues to pay attention to bitcoin. He observed that the traditional finance sector now largely acknowledges that the digital asset is here to stay.