Ric Edelman Says One Third of Americans Buy Bitcoin By the End of 2022

According to Ric Edelman, founder of financial consulting firm Edelman Economical Engines, the future is bright for Bitcoin.

Bitcoin bull and Edelman Money Engines founder Ric Edelman has made some promising predictions about the future of nominal cryptocurrencies.

In an interview on the CNBC ETF Edge show on January 10, Edelman said:

“We are already at a quarter of that number with 24% of Americans owning Bitcoin. It won’t be too long if it reaches a third. Bitcoin is becoming more and more mainstream. People are hearing about it everywhere – it’s not going away. ”

While 2022 is off to a rough start, In his view, corporations, funds, government pension funds are investing in BTC: “there is massive institutional participation.”

As the author of the upcoming book “The Truth About Cryptocurrency,” Edelman is a longtime crypto advocate. In 2019 he described Bitcoin as the first “really new asset class” in 150 years and back in December 2018 he recommended investors to load the orange coin.

In a follow-up interview with CNBC yesterday, he lamented that while he has been predicting a Bitcoin spot exchange-traded fund (ETF) for the past seven years, he believes that by 2023, there will be approval of a spot ETF.

Similar to U.S. Securities and Exchange Commissioner Hester Peirce’s thoughts on the matter, Edelman made it clear that the SEC is running out of reasons to say no:

“Many of the concerns the SEC have had have been addressed by the industry through their own maturation, innovation, and development. I am confident that we will see the SEC say yes because there is no good reason for them not to.”

Matthew Hougan, chief investment officer at Bitwise Asset Administration agreed with him in a second interview.

Related: Crypto Mainstream Adoption: Is It Here? Expert Answer, Part 1

Hougan claims that there will be more investor protections and a better product thanks to the “cumulative weight of evidence that will force them to continue with approval.” The consumer protection offered by the SEC-run ETF is the cherry on top of a slick product.

ETF speculation aside, Edelman has clairvoyance about the mediocrity of Nakomoto’s invention in the future. He succinctly summed it up Bitcoin “will become as ubiquitous in the next few years as any other part of a portfolio.”