Spanish Lender BBVA Advises High Net Worth Clients to Invest 3%-7% in Crypto: Report

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Spanish bank BBVA is reportedly advising its wealthy clients to allocate between 3% and 7% of their portfolios to crypto. The allocation depends on the client’s “risk appetite”, says Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland. Speaking at the DigiAssets conference in London, the banker told Reuters that they allow up to 7% of portfolio in crypto for riskier profiles. “With private customers, since September last year, we started advising on bitcoin,” Meyer noted...