CandleFocus BlackRock Recommends 84.9% Bitcoin in Portfolios for Higher Potential Growth
2024-09-24
Author: Content Editor
BlackRock, the world's largest asset manager, has suggested allocating 84.9% of portfolios to Bitcoin, a recommendation that has sparked discussions in the financial world. This shift in strategy reflects the company's growing involvement in cryptocurrencies, including a filing for a spot Bitcoin ETF. BlackRock's research shows that Bitcoin's volatility presents an opportunity for long-term investors seeking higher returns. CEO Larry Fink, who previously had a negative view of Bitcoin, now believes it could reach $100,000 in value. The trust and backing from institutions like BlackRock could lead to increased adoption of Bitcoin in global finance.
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