Edelman Sees 5x to 10x Returns in Bitcoin as Price Drops to $70K

Financial advisor Ric Edelman is recommending investors put 20% of their portfolios into crypto, citing Bitcoin's price drop to $70,000 as a prime entry point. He believes this represents a long-term opportunity for returns of 5x to 10x over the next decade.

Edelman's views are not industry standard. The conventional recommendation is to hold no more than 2% of portfolios in crypto assets. However, he argues that Bitcoin has held its value despite trading 30% below its mid-October high of $126,000.

The Federal Reserve's decision to keep interest rates steady has removed pressure from risk assets, creating a favorable environment for crypto.