After saying that cryptocurrencies “rank as the poorest hedge for major drawdowns in equities, with questionable diversification benefits,” JPMorgan says investors can put 1% of their portfolios in cryptocurrencies. This can help “achieve any efficiency gain in the overall risk-adjusted returns of the portfolio,” the firm’s strategists explained. Investors Can Allocate 1% of Portfolios to Bitcoin, Says JPMorgan JPMorgan Chase now sees benefits in adding a small percentage of bitcoin to a multi-asset portfolio. The firm’s global head of research, Joyce Chang, and vice president of strategic research, Amy Ho, wrote in a note to clients Wednesday: In a multi-asset portfolio, investors can likely add up to 1% of their allocation to cryptocurrencies in order to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio. However, the strategists clarified: “Cryptocurrencies are investment vehicles and not funding currencies. So when looking to hedge a macro even
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