Bitcoin’s Bright Future: Ric Edelman’s Predictions on Adoption and Institutional Support

The Future of Bitcoin Ownership in America

Ric Edelman, founder of Edelman Financial Engines, recently shared his optimistic take on the world of Bitcoin ownership during a CNBC interview. He revealed that 24% of Americans currently own Bitcoin and confidently predicts that this number could grow to one-third of the population. It seems that Bitcoin is on a trajectory toward mainstream acceptance, yet it hasn’t broken into every household just yet.

The Unstoppable Rise of Institutional Investment

Edelman highlights a significant trend: institutions—from governments to pension funds—are increasingly investing in Bitcoin. Despite 2022’s shaky start, the participation of such major players is a strong sign that Bitcoin’s prominence is not just a passing fad. As he puts it, “There is major institutional involvement.”
This could make Bitcoin feel as common as that extra ketchup packet you ask for at the fast-food drive-thru, but only if you had someone savvy to tell you about it!

Spot ETFs: A Matter of Time

In yet another segment of his bullish commentary, Edelman expressed his consistent belief in the approval of a Bitcoin spot exchange-traded fund (ETF), foreseeing a breakthrough by 2023. This comes after seven years of patiently waiting for what seems like a regulatory game of dodgeball. He muses, “A lot of the SEC’s concerns have been resolved by the industry through their own maturity, innovation, and development.” With the SEC running out of reasons to say no, his confidence could be contagious!

Consumer Protection as a Game-Changer

Joining the conversation, Matthew Hougan, chief investment officer at Bitwise Asset Management, echoed Edelman’s optimism. He suggested that the eventual approval of a Bitcoin ETF could offer even stronger investor protections than before, creating a solid base for more mainstream adoption. In essence, having a regulated ETF could be like adding a seatbelt to a rollercoaster: safer and a bit more comforting.

Bitcoin’s Place in Future Portfolios

So how does all this add up? Edelman believes Bitcoin will soon be as ubiquitous as any other investment in a diversified portfolio. Imagine a future where a casual conversation about your portfolio includes Bitcoin without the raised eyebrows or skeptical looks—a world where Bitcoin is as normal as having a coffee in the morning. He’s betting on it being as common as that neighbor who borrows your lawnmower every other weekend.