A top-selling writer and a famous financial advisor, Ric Edelman, has proposed his perception that he considers the meme-coin DOGE (Dogecoin) to be a fraud that will slump notoriously, although it is currently counted as a good reputed method of trade in the crypto space. Edelman stated in his interview conducted by Yahoo Finance that he sees cryptocurrencies to be coming to the front for leading global finance in a very rapid manner as significant organizations are getting into the field of crypto. He mentioned that even though digital currencies have not a quite dominant position yet the involvement of the institutional investors in the recent year indicates that they will cover the economic area.
He added that some more legislation and regulation is required for making crypto marketing a convenient and reliable platform to take the popular organization into confidence for investing in digital currencies. He aspired that in the coming few years, cryptocurrencies would be a part of the financial portfolios of most people, acknowledging that today the situation is very speculative.
Due to risk in the holding of assets, Edelman suggests that the investors should allocate nearly 1% from their portfolios for the cryptocurrencies of their choice to get exposure to the field of digital assets putting the plan of ‘overnight richness’ at a side which is nonsense.
Edelman advised, responding to the question about which digital currencies to be picked up as no ETF (exchange-traded fund) is available for crypto, that DOGE should be completely ignored as it is nothing but a joke which would end very badly. He further explained that in the absence of ETFs, the investors could deposit in the funds that would facilitate them in the control of their funds, such is provided by Osprey, Grayscale, and Bitwise; thus, they would not require any approval for an ETF from SEC (Securities and Exchange Commission).
Edel Financial Services, a firm for financial investment and planning, has been founded by Edelman as well along with his spouse ‘Jean Edelman’. Edel Financial Services was integrated into another financial counselling company named Financial Engines in 2018. The title of being the best autonomous advisory all over the United States was given to Edelman Financial Engines for consecutive three years from 2018 to 2020.