Ric Edelman is clearly bullish on cryptocurrency for the coming year, according to his “22 Predictions for 2022,” released Dec. 28.
Edelman, one of the most prominent thought leaders in the investment advisory field and founder of Edelman Financial Engines and the Digital Assets Council of Financial Professionals, dives deep into digital asset trends he sees happening in 2022 with the predictions.
“DACFP is committed to educating financial advisors about blockchain and digital assets, and helping them understand where this new asset class is headed is essential, so they can better serve their clients,” Edelman said.
Of his 21 predictions in 2021, only two that he said would occur last year didn’t happen, according to a release announcing the predictions. “Three longer-term predictions are making progress as he predicted—giving him a 91% success rate,” the release states.
Ric Edelman’s 22 Predictions for 2022
#11: Jamie Dimon will stop saying that bitcoin is worthless.
- The market cap for digital assets will end the year higher than it began, and possibly significantly higher. This will be fueled by increased adoption by all three groups of investors: individuals, financial advisors, and institutions (including endowments, pension funds, sovereign funds, corporate treasuries, hedge funds, and more).
- By the end of the year, more than 500 million people worldwide will own bitcoin.
- The SEC will approve a bitcoin exchange-traded fund (ETF). Deposits will exceed $5 billion within two weeks of its debut. By year-end, there will be more than a dozen such ETFs.
- Tokenization will skyrocket—both in quantity and in breadth of asset class. Assets ranging from tangibles (real estate and collectibles) to intangibles (music royalties to performance contracts will become increasingly commonplace. The financial services industry will lag adoption.
- The combined market share of bitcoin and Ethereum will fall below 50%.
- NFTs (Non-Fungible Tokens) will begin to be commonly used in commerce by industries beyond the financial services industry.
- “Metaverse” will become as well known by December 31, 2022, as “NFT” was on December 31, 2021.
- The digital assets ecosystem will create thousands of jobs in occupations that never existed before, such as DeFi yield farmers and NFT speculators.
- The European Commission will pass the MiCA (Markets in Crypto-Assets) regulations.
- More than 50 members of Congress will disclose that they personally own digital assets.
- Jamie Dimon will stop saying that bitcoin is worthless.
- By the end of 2022, more than a third of American adults will own bitcoin.
- Tens of thousands of Millennials will replace or refinance debt via crypto lending opportunities.
- Supply chains will increasingly be tracked via blockchains.
- At least one more country (following El Salvador’s example) will accept bitcoin as legal tender.
- At least one more country (following The Bahamas’ example) will issue a CBDC (Central Bank Digital Currency).
- When asked in surveys whether bitcoin might ever fall to zero, fewer than 10% of financial advisors will say yes.
- For financial professionals who recommend digital assets to clients, their standard allocation will be 3% to 5%.
- More than 10% of American adults will become members of a DAO (Decentralized Autonomous Organization).
- The FASB will announce it is revising GAAP accounting rules to explain how digital should be recorded on corporate balance sheets.
- The traditional 60/40 portfolio will be heavily debated by financial advisors as they argue over the inclusion of digital assets.
- More than ten thousand financial professionals will enroll in DACFP’s Certificate in Blockchain and Digital Assets program so they can serve their clients better, and attract new clients and AUM.
Edelman’s new nationally syndicated radio show and podcast, THE TRUTH ABOUT YOUR FUTURE with Ric Edelman, is set to debut on Jan. 1, 2022 in 24 radio markets nationwide and all major podcast platforms.
SEE ALSO:
• Edelman Launching New Radio Show, Podcast for Investors
• Ric Edelman on Private Equity in 401ks—Exciting But Complicated
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
