BBVA Recommends Crypto Allocation for Wealthy Clients – Coincu

BBVA, Spain’s second-largest bank, suggests high-net-worth clients invest 3-7% in cryptocurrencies, emphasizing Bitcoin for their portfolios. The Switzerland division, headed by Philippe Meyer, is behind this new advisory approach.

This move marks a growing trend towards cryptocurrency adoption by traditional banks, targeting affluent clients wanting portfolio diversification without substantial risk increases.

BBVA Suggests Crypto Allocation for Enhanced Performance

BBVA’s Switzerland division recently initiated suggesting cryptocurrency allocation for wealthy clients, emphasizing Bitcoin’s potential in diversified portfolios since September last year. Head of Digital and Blockchain Solutions, Philippe Meyer, noted clients responded positively to these suggestions.

Adjustments in client strategies reflect a shifting perspective among banks, with crypto suggested for portfolio diversification without high-risk perception. Targeting high-net-worth clients, BBVA believes small allocations can enhance portfolio performance.

“With private customers, since September last year, we started advising on Bitcoin… If you look at a balanced portfolio, if you introduce 3%, you already boost the performance. At 3%, you are not taking a huge risk.”

Switzerland’s Crypto-Friendly Policies Aid BBVA’s Strategy

Did you know? Switzerland’s long-standing openness to financial innovation places it ahead of many European counterparts, enabling banks like BBVA to pioneer crypto inclusion in wealth management.

According to CoinMarketCap, Bitcoin is currently priced at $105,273.31, with a market cap of $2.09 trillion and dominance of 63.99%. In the past 90 days, prices have increased by 22.63%, despite a 2.24% dip over the last 24 hours.

The Coincu research team observes BBVA’s strategy as forward-thinking, aligned with Switzerland’s progressive stance. By engaging high-net-worth individuals, BBVA boosts Bitcoin’s legitimacy in traditional finance, possibly impacting broader industry adoption trends.