Ric Edelman, founder of Edelman Financial Engines which manages nearly $300 billion in assets, has updated his cryptocurrency investment recommendation, urging financial advisors to allocate between 10% and 40% of client portfolios to Bitcoin and other cryptocurrencies. This marks a substantial increase from his 2021 advice of a 1% allocation. Edelman cites the mainstream acceptance of crypto assets and a shift in regulatory attitudes, noting that "every member of the president’s cabinet owns Bitcoin." He characterizes cryptocurrencies as a core, long-term investment rather than a fringe asset and suggests that not holding crypto now represents a greater risk than investing in it. Edelman also declared the traditional 60/40 portfolio allocation model outdated in the current financial environment. His guidance reflects a growing institutional normalization of digital assets and signals a potential shift in investment strategies among advisors and their clients.