Bitcoin to Hit $500,000 by 2030, Reiterates Financial Advisor Ric Edelman: 'Don't Really Care About the 4-Year Cycle'

Financial advisor and bestselling author Ric Edelman on Monday that Bitcoin will hit $500,000 by 2030.Bitcoin Long-Term’s Outlook is Bright?During the Bitcoin Treasuries Conference, Edelman described Bitcoin as the “best-performing” asset since its inception and anticipated this trend to continue for the “foreseeable future.”Bitcoin’s 13,611% gain over the last decade has dwarfed gold and the S&P 500 — though the gap has narrowed sharply in the past five years.“I don’t really care about the four-year cycle very much. I’m looking at 2030 and 2035 more so than the next quarter,” Edelman said.Asset10-Year Gains +/-5-Year Gains +/-Bitcoin+13,611%+96%Gold +229%+146%S&P 500 +255%+78%The Case for Increasing BTC AllocationEdelman then explained his prediction, noting that if global asset owners allocated just 1% of their portfolios to Bitcoin, the price could reach $500,000 by 2030.He added that a 2% allocation would push the value to $1 million per coin.Edelman recommended raising Bitcoin’s share in portfolios to at least 10% and as high as 40%, dismissing the typical 1%–2% allocation as “insufficient.”Notably, BlackRock’s analysis found that allocating just 1% to 2% of a traditional 60/40 portfolio to Bitcoin, funded from equities, Read Also: Bitcoin Ready for Bull Market?Edelman’s remarks come amid a flurry of Bitcoin predictions as the asset begins to rebound in a rough year.Veteran trader Peter Brandt said Bitcoin , potentially rising to $600,000 by late 2029.Hunter Biden Bitcoin would grow to $220,000 by 2028.Price Action: As of this writing, BTC is up 1,10% in the last 24 hours to $83,957, according to Benzinga Pro.Add article title and URLPhoto: Hi my name is Jacco on Shutterstock.com