Ric Edelman: "Buying Bitcoin (BTC) is like buying Amazon stock in 1999"

▲ Bitcoin (BTC)/AI generated image

A radical diagnosis has emerged from a Wall Street veteran: buying Bitcoin (BTC) now is like buying Amazon (AMZN) stock in 1999. It is observed that even if only a tiny fraction of global asset portfolios flows in, Bitcoin will reach the $500,000 mark before 2030.

According to the cryptocurrency specialized media outlet The Crypto Basic on September 17 (local time), Ric Edelman, founder of the Digital Asset Council of Financial Professionals (DACFP), compared Bitcoin's long-term growth potential to Amazon's explosive expansion in the early days of the dot-com bubble during an interview on a virtual asset specialized broadcast. Founder Edelman emphasized, "Even if global investors allocate only 1% of their assets to Bitcoin, the price will reach $500,000," adding, "This figure is not a complex guess but the result of simple arithmetic calculation."

He even assessed the $500,000 target price as a conservative forecast. Founder Edelman pointed out, "There are quite a few analysts in some parts of the market who foresee $1 million, $2 million, or even $5 million." He added, "My prediction is likely to be wrong in two aspects: the final price will exceed $500,000, and the time of reaching it will be much earlier than 2030."

He explained that the perception of traditional finance has also reached a huge structural turning point. Founder Edelman recalled, "In 2013 and 2014, when I preached to my colleagues in the financial sector that they should pay attention to Bitcoin, I was often booed off the stage." He continued, "Now, the majority of the traditional financial market recognizes Bitcoin's sustainability and institutionalization as a clear reality."

The full-scale inflow of institutional capital, including governments, sovereign wealth funds, public pension funds, insurance companies, and large banks, is also cited as a key driver for the long-term rally. Founder Edelman warned that short-term volatility and market disruption are inevitable on the path to $500,000. Still, he predicted that Bitcoin's fixed supply and the structural shift of global capital would combine to offer an opportunity equivalent to early Amazon investment, considered the greatest success story in tech stock history.

[Article Key Summary]

-Founder Edelman diagnosed that buying Bitcoin now is like buying Amazon stock in 1999.

-He analyzed that even if only 1% of global assets flow in, Bitcoin's price will surpass $500,000 before 2030.

-Despite short-term volatility, he emphasized that long-term growth is firm as the institutional inflow of capital accelerates.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*