A naukri.com initiative
Bitcoinmagazine
4w
292
BBVA Tells Wealthy Clients to Invest Up to 7% in Bitcoin
- Spanish bank BBVA is advising its wealthy clients to invest up to 7% of their portfolios in crypto and Bitcoin.
- The bank's private wealth division recommends clients allocate 3% to 7% of their portfolio to Bitcoin based on their risk appetite.
- BBVA began advising on Bitcoin for private customers in September last year.
- Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland, stated that introducing 3% of Bitcoin can boost portfolio performance without significant risk.
- BBVA launched Bitcoin trading and custody services through its Swiss subsidiary for private clients in June 2021, marking its first formal advice on allocations.
- BBVA considers early investment in Bitcoin and blockchain as strategic, viewing institutions understanding digital currencies as leaders of the new monetary system.
- BBVA's interest in digital currency dates back to 2015, setting it apart from peers who were hesitant to engage with Bitcoin at the time.
- The progression from blockchain technology interest to direct investment guidance signals BBVA's long-term commitment to Bitcoin.
- The news was first reported by Bitcoin Magazine.
Read Full Article
17 Likes
For uninterrupted reading, download the app