Investing in Crypto: BBVA’s Bold Move or Just Another Fad? 🤔💸

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What to know:

  • BBVA is advising its wealth clients to invest 3-7% of their portfolios in cryptocurrencies, an executive of the Spanish bank said.
  • BBVA’s advice of investing 3-7% of portfolios in crypto currently applies to bitcoin and ether, but the bank plans to expand this to other cryptocurrencies later this year.

In a rather audacious turn of events, the illustrious Spanish lender BBVA has taken it upon itself to counsel its wealthier clients to allocate a modest 3%-7% of their portfolios to the whimsical world of cryptocurrencies. One might wonder if this is a stroke of genius or merely a dalliance with folly.

Philippe Meyer, the bank’s head of digital and blockchain solutions (a title that sounds suspiciously like a character from a dystopian novel), regaled attendees at the DigiAssets conference in London with tales of their foray into the realm of bitcoin, which began in the halcyon days of September last year, as reported by the ever-reliable Reuters.

“For those with a taste for risk, we allow up to 7% of portfolios in crypto,” Meyer declared, as if he were offering a fine wine rather than a volatile digital asset. 🍷

Currently, BBVA’s sage advice pertains to the illustrious bitcoin and the ever-popular ether, but fear not, dear investors! The bank has grand plans to broaden its horizons to include other cryptocurrencies later this year. Because why not throw a few more coins into the mix? 🎲

As we observe the financial institutions of 2025 warming up to the idea of cryptocurrency investments—like a cat reluctantly accepting a bath—BBVA’s proactive stance is indeed noteworthy. They are not just dipping their toes; they are diving headfirst into the crypto pool, floaties and all.

Alas, BBVA has yet to respond to CoinDesk’s request for comment, leaving us all in suspense. Perhaps they are busy counting their digital coins? 💰

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2025-06-18 12:55