Blackrock has allegedly suggested a staggering 28% allocation to Bitcoin for investors' portfolios during a private event
This figure emerged from a recent private client event hosted by Blackrock, which was focused on promoting their Bitcoin ETF, IBIT, according to information shared by investor Fred Krueger on the X social media platform. This interest from a diverse group of institutional investors and firms signals a potential change in the traditional financial sector's approach to cryptocurrency.
The suggestion that a 28% allocation to Bitcoin could be considered sensible has since become a talking point among industry insiders.Despite the enthusiasm generated by the event, some industry experts are questioning the feasibility of such a high allocation to Critics like Eric Balchunas have voiced concerns over the legitimacy of the claims, pointing out that even after considering Blackrock's commitment to their Bitcoin ETF, the suggested percentage seems excessively high.
In response, Steven Lubka, managing director at Swan, provided clarification that the recommendation was not an active strategy in Blackrock's funds but rather a theoretical suggestion by a quant, deemed"not unreasonable." Lubka also referenced a peer-reviewed paper published by Blackrock, which argued for the mathematical optimality of a high Bitcoin allocation. This might lend some credence to the surprising figure.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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