 plans, which has contributed to Bitcoin's surge. However, the cryptocurrency faces downward pressure due to unexpected increases in producer prices and ongoing discussions about the U.S. potentially purchasing Bitcoin for its strategic reserves.){kind=link}
“If there was a major decline in Bitcoin, those institutional investors would jump in, they would see this as a buying opportunity.” – 02:50
Ric Edelman, Founder of DACFP, joins Remy Blaire to discuss Bitcoin’s current market position, hovering around $113,500 just a week after reaching a new all-time high of over $124,000. The conversation highlights the recent executive order from the U.S. government that allows digital assets to be included in 401(k) plans, which has contributed to Bitcoin’s surge. However, the cryptocurrency faces downward pressure due to unexpected increases in producer prices and ongoing discussions about the U.S. potentially purchasing Bitcoin for its strategic reserves.
Ric Edelman shares his insights on the significance of allowing private equity in 401(k) plans, emphasizing the decreasing number of publicly traded companies and the need for ordinary investors to access a wider array of investment opportunities. He points out that the landscape has changed dramatically, with institutional investors, including sovereign wealth funds and pension funds, now heavily involved in Bitcoin. This institutional engagement, he argues, is likely to prevent extreme sell-offs of 70% or 80% that have occurred in the past.