could bitcoin soon be recognized as a mainstream asset class?
I doubt it. Unless the investment advisors are under age 27.
What needs to happen in order for bitcoin to be recognized as a legitimate investment option for main stream international consumption?
It needs two things. Understanding, and proven track record. The track record is being established, but the understanding will come too late for it to be considered by the mainstream.
prudent investment advisers would not recommend their clients invest 100% of their retirement savings into bitcoin.
I don't think any bitcoiners would either. Personally I'd highly recommend having some silver and gold too.
However 2-5% of an investment portfolio invested in a new asset class 'p2p currency' seems reasonable.
It would to us, but it would be a forward thinking investment advisor indeed that would also feel that way.
When assessing bitcoin purely from an investment perspective most of us probably agree that it is a high risk / insanely high return investment.
I agree about the insanely high return part, but I view the risk as moderate to high with it favoring the moderate side more with every passing day.
If bitcoin can gain mainstream recognition as a legit asset class for the investment portfolios of working class people and hedge fund managers alike.
That won't happen.
Then I think international bitcoin remittances could become a huge, as btc value in a given region would presumably not be eroded by large quantities of incoming remittances if the local population recognized btc as a legit store of value.
No value wouldn't erode, it would increase.
Heck they might even start using it as a currency.
People will do that, but it won't be because bitcoin is adopted by the mainstream from people beginning to "get it". It will be because it will be one of the de facto replacements for fiat currency in the not too distant future.