Spanish BBVA proposes virtual asset investment to high-net-worth clients

YM Lee

Summary

Spanish BBVA, one of the country's largest banks, has reportedly proposed virtual asset (cryptocurrency) investment to high-net-worth clients.
BBVA stated that it advised clients to allocate 3~7% of their portfolio to virtual assets and Bitcoin.
BBVA has been offering Bitcoin investment advice since last September, and it is reported that some clients have achieved considerable returns.

Spanish BBVA (Banco Bilbao Vizcaya Argentaria), one of the country's largest banks, has reportedly proposed virtual asset (cryptocurrency) investments to its clients.

According to a Cointelegraph report on the 18th (local time), BBVA advised its high-net-worth clients to invest 3~7% of their portfolios in virtual assets and Bitcoin depending on their risk exposure, and it appears that many clients have actually earned considerable profits through this strategy.

Philipp Meyer, Head of Digital and Blockchain Solutions at BBVA Switzerland, stated at a recent conference in London, "Since last September, we have been offering Bitcoin investment advice to private clients. Now we are increasing portfolio allocation for high-risk clients."

BTC