Ric Edelman stated that Bitcoin is the first “true new asset class” in 150 years

Ric Edelman, the founder of Edelman Financial Engines, a financial consulting company, described Bitcoin (Bitcoin) And encrypted assets, as a “new and different asset class”, have nothing in common with mainstream staples such as stocks, bonds, real estate, oil or commodities, just to name a few.

In an interview with Yahoo Finance on Wednesday, the financial adviser call Bitcoin and crypto are “the first truly new asset class in about 150 years.” According to Edelman, there has been no innovative asset class like cryptocurrency since the gold market.

As part of the discussion, Edelman revealed that he is helping financial advisors to educate them on the need to be more open to cryptocurrency as a viable portfolio diversification.

In fact, as previously reported by Cointelegraph, a recent survey by Opinium, a corporate research firm, found that more than 90% of the 200 independent financial advisers surveyed in the UK Oppose crypto investment for its clients.

Although there was no specific response to Opinium’s polls, Edelman described the silence of the independent financial adviser (IFA) as a result of prejudice, noting:

“Most financial professionals have been in business for a long time […] But the more experience and the more talents you have, the more difficult it is to understand Bitcoin. “

Edelman believes that given that portfolio diversification and rebalancing are popular strategies for IFA, BTC should be an obvious choice.

related: 90% of UK financial advisers avoid cryptocurrencies and “memetic stocks”

Edelman further argued that financial advisers only need to look at the technical basis of cryptocurrency to see that cryptocurrency is different from tulip or peas.

For Edelman, encryption and blockchain technology are generally “the most influential business innovations since the development of the Internet itself.”

As early as 2019, financial advisors comment Bitcoin exchange-traded funds are inevitable in the United States.