Spanish bank BBVA is now advising its wealthy clients to invest up to 7% of their portfolios in crypto and Bitcoin, showing how traditional banks are starting to see the potential of Bitcoin. 

“With private customers, since September last year, we started advising on Bitcoin,” said Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland, during the DigiAssets conference in London. “The riskier profile, we allow up to 7% of portfolios in crypto.”

The bank’s private wealth division is currently recommending clients allocate 3% to 7% of their portfolio to Bitcoin and crypto, depending on their individual appetite. While many private banks have…

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