Ric Edelman, founder of the Digital Assets Council of Financial Professionals.
Heidi Gutman | CNBC
Bitcoin’s recent rout — including its recent drop below $20,000 — has given some cryptocurrency naysayers an “I told you so” moment.
“How do you make a million? Invest a billion in bitcoin,” one panelist joked at a conference for financial advisors earlier this month, which drew laughter from the crowd.
Ric Edelman, a former independent financial advisor and founder of Edelman Financial Services, presented at a separate session at the same Wealth Management EDGE conference with a different message.
“A lot of folks are convinced it’s a fad or it’s a fraud, it’s a tulip bulb or a Beanie Baby,” Edelman said. “I’m not here to tell you that you should fall in love with bitcoin.”
“My point is you need to be knowledgeable about this, because you’re getting client questions” about crypto, he said.
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