BBVA, one of Spain's leading banks, recently announced that it is advising its wealth management clients to consider investing between 3% to 7% of their portfolios in cryptocurrencies. Philippe Meyer, the bank's head of digital and blockchain solutions, revealed this guidance at the DigiAssets conference held in London. Although BBVA began advising clients on Bitcoin investments in September last year, this marks a significant step as it actively encourages its clients to broaden their investment horizons by including cryptocurrencies. At present, the bank's recommendations focus specifically on Bitcoin and Ethereum, but Meyer indicated plans to expand these options to additional cryptocurrencies later this year. This move aligns with the growing trend among financial institutions that are increasingly open to cryptocurrency investments, with BBVA's proactive approach highlighting a noteworthy shift in sentiment within the finance industry.
BBVA Advises Clients to Allocate Up to 7% of Portfolios in Bitcoin and Ethereum
Spanish bank BBVA is recommending wealth clients invest between 3% to 7% of their portfolio in Bitcoin and Ethereum, reflecting a shift in institutional attitudes toward cryptocurrencies.
Jamie Bennett
Crypto Analyst
5 min read
1,705
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
BTC
BTC
BUY
Entry Price
$104992.7
Confidence
80%
Stop Loss
$102000
Take Profit
$110000 - $115000
The positive news from BBVA indicates increased institutional interest in BTC, encouraging a buy.
