Spain's second-largest bank, BBVA (Banco Bilbao Vizcaya Argentaria), is encouraging its wealthy clients to invest between 3% to 7% of their portfolios in cryptocurrency, particularly Bitcoin (BTC). Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, stated that since September of last year, the bank has advised clients on Bitcoin investments, noting that riskier profiles have been encouraged to increase their allocations. Meyer emphasized that even a modest 3% allocation could enhance portfolio performance without significantly increasing risk. The bank's recommendations come amid ongoing warnings about crypto risks from European regulators, with 95% of EU banks currently avoiding crypto activities. Despite this cautious backdrop, BBVA initiated crypto trading in 2021 and active advisory services in late 2024, becoming a leader among conventional banks. In March, BBVA received regulatory approval to offer Bitcoin and Ether trading in Spain. This expansion aligns with the full implementation of the European Markets in Crypto-Assets Regulation (MiCA), which came into effect at the end of 2024. Other banks, such as Santander, are also exploring crypto trading options, including issuing their own stablecoins.
BBVA Advises Clients to Invest 3-7% of Portfolio in Bitcoin
Spain's BBVA bank recommends its affluent clients allocate up to 7% of their investment portfolios to cryptocurrency, highlighting an increasing acceptance in traditional finance.
Jamie Bennett
Crypto Analyst
5 min read
39,882
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
BTC
BTC
BUY
Entry Price
$30500
Confidence
80%
Stop Loss
$29700
Take Profit
$32000 - $33500
The positive sentiment from a major bank advising clients to invest in Bitcoin suggests increased buying interest and a bullish trend.
