According to ChainCatcher and reported by Cointelegraph, Spain's second-largest bank BBVA has advised its high-net-worth clients to allocate part of their investment portfolios to crypto assets. BBVA recommends that high-net-worth clients allocate between 3% to 7% of their portfolios to cryptocurrencies and Bitcoin (BTC) based on their risk tolerance.
Philippe Meyer, head of digital and blockchain solutions at BBVA's Swiss branch, stated at a conference in London: 'Since September last year, we have started providing Bitcoin investment advice to private clients.' He added that for clients with a higher risk appetite, the recommended allocation ratio has already been increased.
Meyer stated that clients have responded positively to the bank's advice and do not believe that the risks of crypto assets are too high. 'If you look at a balanced investment portfolio, just adding 3% can already enhance the overall returns. Allocating 3% does not mean taking on a significant risk.'
