Ric Edelman Says Buying Bitcoin Now Is Like Buying Amazon in 1999

Ric Edelman, renowned financial advisor and founder of Edelman Financial Engines, said on Bitcoin Magazine TV that buying Bitcoin now is like buying Amazon in 1999, and predicted the top cryptocurrency's price will reach at least $500,000 by 2030. Edelman noted that in 1999, people were still debating whether to invest in Amazon; today, no one debates it—everyone holds it, and Bitcoin will follow the same trajectory. He added that if everyone globally allocated 1% of their assets to Bitcoin, the corresponding price would be $500,000, and called his own forecast conservative, suggesting the final price could exceed $500,000 and arrive earlier than 2030. A long-time Bitcoin advocate, Edelman revealed he was repeatedly booed off stage in 2013 when introducing Bitcoin to financial services peers, whereas now most in traditional finance at least acknowledge the asset "has established a foothold." The article also noted that Bitcoin recently traded around $76,522, up 1% over the past 24 hours, posting its best performance in years in August, though still well below the all-time high of $126,080 set in October.