Legendary investor Ric Edelman says buy BTC now like buying Amazon in 1999

Legendary trader Ric Edelman likened buying bitcoin now to investing in Amazon in 1999. He forecast the bitcoin price could reach $500,000 by 2030.

Bitcoin Magazine, a blockchain media outlet, reported on Wednesday that Edelman said bitcoin's long-term adoption path could be similar to Amazon's.

He said there was intense debate in the market over whether to invest in Amazon, but the situation is now completely different. "In 1999, people debated whether they should invest in Amazon," he said. "Now everyone owns Amazon, and bitcoin will follow the same trajectory."

He cited a broader expansion in asset allocation as the basis for his price forecast. Edelman said that if investors worldwide allocate 1 percent of their assets to bitcoin, the price could reach $500,000. He added that the structure is very simple.

Edelman argued he sees no factors blocking his forecast and said it could actually exceed his projection. He said the bitcoin price could rise above $500,000 and reach that level earlier than 2030.

Market prices are also drawing attention again in tandem with the remarks. Bitcoin rose 1 percent over the past 24 hours to approach $76,522. It traded below $65,000 for several months in August before showing a sharp upward move, but it remains below $126,080, recorded in October 2025.