Ric Edelman predicts BTC could reach $500K by 2030

Prominent investor and Chairman of the Digital Assets Council, Ric Edelman, has predicted that Bitcoin could reach $500,000 by 2030 if 1% of global portfolios are allocated to the asset, The Crypto Basic reported. Edelman described the $500,000 target as a conservative figure, noting that other analysts have forecast prices of $1 million, $2 million, or $5 million. He called the $500,000 price point "prudent and realistic." He anticipates that as the cryptocurrency market matures, participation will increase from governments, sovereign wealth funds, pension funds, hedge funds, insurance companies, banks, and brokerage firms. "A 1% allocation from global portfolios would result in an inflow of approximately $7.5 trillion," he explained. Edelman added that the path to $500,000 will not be a straight line, and he expects "sharp volatility and turmoil" similar to what the market has experienced in recent months.