BBVA, a major Spanish banking institution, is now recommending cryptocurrency investments to its affluent clients. According to Reuters, the bank has advised allocating 3% to 7% of portfolios to Bitcoin and Ethereum.
Reflecting a shift from previous caution, the investment range is based on individual risk tolerance levels and signals active endorsement of crypto assets.
BBVA is among the first central European banks to formally promote digital assets. Most other institutions in the region have continued to distance themselves from cryptocurrencies.
Headquartered in Bilbao, the bank holds around $700 billion in assets under management and serves approximately 80 million clients globally.
Over 95% of banks within the European Union have not adopted crypto strategies. BBVA’s action stands out in a market that is still reluctant to embrace digital currencies.
Its decision to provide clients with specific percentage guidance indicates a more structured approach. This differs from vague references that have been common in the industry. #GENIUSActPass #DAOBaseAIBinanceTGE #FOMCMeeting
#BTC Analyst Sells Everything, Predicts Possibility of a Huge COVID-Style Market Crash Reputed silver-tongued analyst sells everything as he predicts the possibility for a huge COVID-style market crash. The price of Bitcoin (BTC) continues to show high volatility as the price moves from $106,000 to $108,000 and then back to $106,000 in a matter of hours. While most analysts remain bullish, one analyst sells everything. He says that there is a very high possibility for a huge COVID-style market crash and proceeds to sell all his stocks and altcoin holdings, including 25% of his BTC holdings.