Edelman Predicts Bitcoin Will Match Amazon's Trajectory
Financial advisor Ric Edelman has drawn parallels between buying Bitcoin today and investing in Amazon back in 1999. He expects BTC to hit $500,000 by 2030 if global allocations reach about 1%. If people allocate more than 1% of their assets to Bitcoin, he believes the price will be even higher.
Edelman, founder of Edelman Financial Engines, thinks that just as Amazon is now a ubiquitous investment, Bitcoin will become a standard asset class in the future. He points out that in 1999, people debated whether to invest in Amazon, but today it's widely held.
Bitcoin was trading near $76,522 after its strongest August run in years. Edelman says his prediction of $500,000 by 2030 is 'really that simple' and notes that he doesn't see any factors interfering with this target.