Edelman Financial Services Founder, Ric Edelman, makes the case for $420,000 Bitcoin: "A global 1% allocation to Bitcoin would lead to a $7 trillion infusion into the asset."
Discussion
This makes me bearish. It's such a dumb justification.
Sure 1% doesn't sound like much, but some people have a few million worth of assets, and some have a trillion in oil and other assets. These people are not going to put 1% of 1 trillion into Bitcoin.
So I guess we're stuck at 58k for a while longer then. 🙃