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Seeking Alpha 2021-06-21 17:17:29

Ric Edelman: Bitcoin and other cryptocurrencies unlike any other asset class

Vertigo3d/iStock via Getty Images Ric Edelman, founder of Edelman Financial Engines, called for stepped-up educational resources surrounding cryptocurrencies, arguing that the asset class was different than any other potential investment choice. Edelman's comments came as Bitcoin (BTC-USD) suffered a substantial decline on Monday, hurt by steps taken by the Chinese government to crack down on crypto mining in the country. In an interview with CNBC on Monday, Edelman said Bitcoin and other cryptos were "totally unlike anything else we've ever experienced." Given the unusual aspects of crypto investing, Edelman pushed for increased professional education. He said investment advisors needed to learn more about cryptocurrencies in order to better navigate their clients around the market. Bitcoin had fallen more than 6% to $32,185.64 in midday trading on Monday. This followed news that the Chinese government had ordered the closure of mining projects in Sichuan province, one of the hotbeds of this

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