Spanish bank BBVA recommends clients to allocate 7% to cryptocurrencies

ChainCatcher news, according to Cointelegraph, Spain's second-largest bank BBVA has advised its high-net-worth clients to allocate a portion of their investment portfolios to crypto assets. BBVA recommends that high-net-worth clients allocate 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 has increased.

Meyer noted that clients have responded positively to the bank's advice and do not perceive the risks of crypto assets as excessive. "If you look at a balanced investment portfolio, just adding 3% can already enhance overall returns. Allocating 3% does not constitute taking on a significant risk."