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The owner of Edelman Financial Services, Ric Edelman, suggested in the Altcoin Daily podcast that Bitcoin could reach $500,000 by 2030, but only under a specific condition.
Edelman clarified that a significant number of investors still do not hold Bitcoin. However, if each of them allocates at least 1% of their portfolio to the leading cryptocurrency, Bitcoin could potentially achieve the $500,000 mark. As the cryptocurrency market matures, Edelman also anticipates increased investments in digital currencies from governments, pension funds, hedge funds, banks, as well as insurance and brokerage firms.
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According to his calculations, the total value of stocks, bonds, real estate, gold, and cash worldwide is approximately $750 trillion. The real estate market alone is roughly three times larger than the stock market, and around $56 trillion in cash circulates among global currencies.
Based on this, if investors looking to diversify their portfolios allocate even 1% of their capital to Bitcoin, the influx of funds into the leading cryptocurrency would be about $7.5 trillion. Such a level of demand could sustain Bitcoin’s price at $500,000; however, the journey from the current level of $67,000 to that point is expected to be challenging. Edelman foresees significant price fluctuations similar to those the crypto market has experienced in recent months.
According to the head of Edelman Financial, an increasing number of investors are beginning to invest in Bitcoin, with many allocating even more than 1%. The businessman noted that he has encountered more investors who are dedicating nearly 5% of their capital to the leading cryptocurrency. Edelman believes that his assessment of Bitcoin is more measured and realistic compared to experts predicting a price above $1 million.
Similar statements have been made by Samson Mow, CEO of Jan3, who believes that Bitcoin could rise to $1 million despite market volatility and downturns. David Marcus, director of Lightspark, a financial services company, shares this viewpoint, explaining his forecast through technological advancements, such as the second-layer solution Lightning Network, designed to enhance Bitcoin’s scalability.
