Fidelity executive “recommends 1%-5% of portfolio regardless of BTC view”
According to CNBC, Matt Horne, head of digital asset strategy at Fidelity, a large global asset manager and issuer of a Bitcoin spot ETF, recently spoke at the Vision 2024 conference in Austin, Texas, where he said, “While views on Bitcoin may be divided, allocating a small portion of a portfolio makes sense. Building a long-term, risk-managed position in an asset class like Bitcoin can make sense for most clients.”
“Investors save money for long-term goals, such as retirement, and they invest their money with an advisor. We often get overly immersed in the debates surrounding bitcoin - disruptive technology, venture capital, digital gold, etc. But I personally think it's okay to have different perspectives and arguments, so I recommend allocating 1% to 5% of your portfolio to bitcoin, enough that if its value drops to zero, it won't hurt you,” he said. That said, he acknowledges that it's virtually impossible to 'model' Bitcoin because it's an emerging asset that's only been around for 15 years, and only the value since 2015 is worth tracking. Still, it's worth investing in, and the most important thing is for investors and advisors to become educated about this new investment space.”
Meanwhile, Cryptorank.io, a blockchain investment and analytics platform, analyzed that “after spot trading volume on major cryptocurrency exchanges reached a high of $2.44 trillion in March, driven by strength across the crypto market, spot trading volumes continued to decline in April and May.” According to data compiled by CryptoRank, spot trading volume on major global cryptocurrency exchanges was $1.48 trillion in April and $1.22 trillion in May. This is down to the levels seen in February ($1.19 trillion) before Bitcoin hit its all-time high.
