Investors and advisors can't ignore crypto anymore, according to Ric Edelman, founder of Edelman Financial Engines.
"It's the first new invention of an asset class in 170 years — the last new asset class was the discovery of oil in the 1850s," he told CNBC Pro at the Digital Assets Council of Financial Professionals' Vision conference in Austin, Texas. "We need to recognize that in order to have a truly diversified portfolio, we need to have exposure to every asset class," he added.
"That means advisors need to rethink their notion of portfolio diversification and acknowledge that crypto — like it or not, understand it or not — belongs in a diversified portfolio on a long-term basis." Edelman is a former independent financial advisor. In 2018, he founded DACFP to teach advisors about crypto, which he sees as a major wealth creation opportunity many are already missing out on.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Edelman Trust Barometer shows Gen Z upending the purchase funnelInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Les mer »
Unpacking The Power Of Financial Reports For Business OwnersBy neglecting financial reports, you risk missing crucial financial information and making costly mistakes.
Les mer »
Ric Flair Crashes Magic Johnson's Speech, Wooooo!!!Ric Flair crashed longtime friend Magic Johnson's keynote speech to 1500 entrepreneurs in Florida, delivering one of his most famous lines as many in the crowd yelled, 'Wooo!'
Les mer »
AstraZeneca planning China business spin off, Financial Times reportsDrugmaker AstraZeneca is drafting a plan to spin off its China business, and listing a separate unit in Hong Kong is being viewed as an option, the Financial Times reported on Sunday.
Les mer »
Morning Bid: Investors look ahead to China rate decisionU.S. Secretary of State Antony Blinken's trip to China also will be in focus.
Les mer »
Crypto.com Has Internal Teams to Trade Tokens for Profit: The Financial Times.Cryptocom uses its own team for trading crypto against its customers, sources close to the matter claim. insidertrading SEC
Les mer »