#DAOBaseAIBinanceTGE BBVA, Spain's second-largest bank, is advising its wealthy clients to invest up to 7% of their portfolios in cryptocurrencies, specifically Bitcoin and Ethereum. This move signals a significant shift in traditional finance, with BBVA's private bank recommending allocations between 3% to 7% depending on individual risk appetite.
*Key Details:*
- *Cryptocurrency Allocation*: 3-7% of portfolio, tailored to client's risk profile
- *Applicable Cryptocurrencies*: Currently Bitcoin and Ethereum, with plans to expand to other cryptocurrencies later this year
- *Rationale*: BBVA believes even a modest allocation to Bitcoin can boost portfolio performance without taking huge risks
- *Industry Impact*: This move positions BBVA as a benchmark institution in blockchain technology adoption
According to Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, introducing 3% Bitcoin allocation can already enhance portfolio performance without exposing clients to significant risk. BBVA has been executing Bitcoin purchases for clients since 2021 and launched Bitcoin trading and custody services through its Swiss subsidiary.$BTC
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