Wall Street Advisory said on CNBC, "After the Bitcoin ETF is approved, there will be an unprecedented influx of capital from the financial sector."
Ric Edelman, the founder of the Wall Street advisory firm Edelman Financial Services, said on a CNBC program that all financial advisors and investment firms should consider capital allocation to Bitcoin.
From Zero to 112 Billion Dollars (about 13 Trillion Yen)
Bitcoin has surged to a market cap of about $112 billion (about 13 trillion yen) in roughly a decade, and the overall cryptocurrency market has grown to a market size of $216 billion (24 trillion yen) with daily trading volume reaching $13 billion (about 1.5 trillion yen).
A recent survey by the TABB Group revealed that the over-the-counter (OTC) market conducts roughly 2 to 3 times the daily trading volume of crypto exchanges. In total, the entire crypto market’s daily trading volume is estimated at about $40 billion (4.4 trillion yen).
Mr. Ric Edelman argued that, considering improvements in market infrastructure, liquidity of cryptocurrencies, and recognition of digital assets as a new asset class, every investor should invest in Bitcoin.
“Bitcoin (BTC) is currently 10 years old and accounts for about 40% of its $200 billion market, so I am very bullish on BTC. It is clearly gaining traction. A lot of investment will flow into blockchain and crypto assets. Yet financial advisors actually know relatively little and share the same level of knowledge as their clients.”
