- Ric Edelman staged a Blockchain and Cryptoasset Pre-Event which was attended by no less than 155 of the United States’ top financial advisors and influencers in the digital asset space.
- Before the event, 96% of the participants had a negative viewpoint on crypto assets. After the event, 89% had a more favorable view of crypto assets.
Fredric Mark "Ric" Edelman, the chairman and co-founder of Edelman Financial Services, staged a Blockchain and Cryptoasset Pre-Event with Barron’s Top Independent Advisor Summit at the Grand America Hotel in Salt Lake City.
The event, presented by The Advisor Blockchain and Crpyoassets Council, was a 5-hour program on blockchain and crypto assets such as Bitcoin. It offered financial advisors Continuing Education Credits and was sponsored by Kingdom Trust, Bitwise Investments, Blockforce Capital, Fidelity Digital Assets, Grayscale Investments, Orion Advisor Services, Pantera Capital, State Street Global Advisors, and Van Eck.
The event was attended by no less than 155 of the United States’ top financial advisors and influencers in the digital asset space. Before the event, 96% of the participants had a negative viewpoint on crypto assets. The reason behind this negativity was:
- 80% of these advisors said they know little to nothing about blockchain and crypto assets.
- 92% said they were not comfortable explaining crypto asset concepts to their clients.
- 84% don’t own any crypto.
- 44% thought Bitcoin is a speculation and not an investment.
However, once the event was over, their perception changed dramatically. According to a post-program survey:
- 89% had a more favorable view of crypto assets.
- 89% no longer believe bitcoin is speculation.
- 82% said they are more likely to buy crypto, with 71% raising their prediction about the future price of bitcoin.
- 91% will either stop discouraging clients from buying crypto or buy it for them.
Edelman said about this turnaround:
"This remarkable turnaround in attitude by these top financial advisors demonstrates the urgency of teaching advisors about this important emerging asset class. Advisors who can't answer their clients' questions about bitcoin will lose credibility with their clients, and they may end up losing the clients."
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple's XRP could face decline as percentage of supply in profit reaches very high levels
Ripple's XRP is down 6% on Tuesday following record profit-taking among investors as its percentage of total supply in profit reached very high levels in the past week. This follows Ripple Labs donating another $25 million to the pro-crypto Fairshake super PAC.
Litecoin Price Forecast: Whales invest $950M in 73-day buying spree amid LTC ETF approval rumours
Litecoin price hit $87.90 on Tuesday, down 17% from the recent high of $106 recorded on November 23. Despite the steep correction phase, on-chain data shows crypto whales have entered a 73-day buying spree.
Crypto Today: SEI, Fantom and SUI emerge as top gainers, while Morocco moves to legalize crypto
On Tuesday, BTC price struggled at the $93,000 support, while Ethereum fell 7% from $3,546 to $3,300. As BTC and ETH led the crypto market losses, mid-cap altcoins received considerable demand.
Bitcoin needs a further correction for sustained growth
After weeks of rapid growth, Bitcoin (BTC-USD) entered the maximum turbulence zone falling below $94,000. BTC is currently trading at $93,764 and continues to trend downward, having exited the ascending channel.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.