Fun

Bitcoin and Ether can ‘greatly improve’ portfolio performance: BBVA

News Feed - 2024-06-18 10:06:22

Zoltan Vardai11 hours agoBitcoin and Ether can ‘greatly improve’ portfolio performance: BBVABitcoin’s price has outperformed the returns from the S&P 500 more than threefold in 2024.1736 Total views6 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksExposure to Bitcoin and Ether, the two largest cryptocurrencies, will significantly boost the returns of traditional investment portfolios.


Adding Bitcoin (BTC) and Ether (ETH) to investor portfolios will “greatly improve” the return on investment (ROI), according to Philippe Meyer, head of digital and blockchain solutions at BBVA.


During a panel at the Web3 Corporate Innovation Day, Meyer said that the firm had observed that introducing a small portion of digital assets like Bitcoin or Ether is “greatly improving the performance” of investment portfolios:“So if you add something like 3% to 5% of your assets under management in crypto it’s really making all the difference.”


Meyer said that a portfolio allocation of 3%–5% in cryptocurrency can significantly boost investor returns:“So anyone interested in having a better return on his assets should consider this type of asset class.”


Meyer’s comments come amid a crypto bull cycle, with Bitcoin’s price up over 146% over the past year, trading above the $65,383 mark, according to CoinMarketCap data.BTC/USDT, 1-year chart. Source: CoinMarketCap


Related:TRUMP token whale sells for $3.7M profit as memecoin starts declineBitcoin triples the return of the S&P 500 in 2024


During 2024, Bitcoin’s price has significantly outperformed the return of the S&P 500, the stock market index tracking the performance of the 500 largest publicly listed firms.


Since the start of the year, Bitcoin’s price is up over 47% year-to-date (YTD), while the S&P 500 only rose 15% — meaning that BTC has outperformed the index by over threefold, TradingView data shows.BTC&S&P 500, YTD chart. Source: TradingView


Zooming out, the discrepancy in returns is even larger. On the yearly timeframe, BTC is up 147%, while the S&P 500 is only up 24%, meaning that BTC has outperformed the index by over sixfold.


However, Bitcoin has lost some steam in the short term, falling 2.3% on the monthly chart, while the S&P 500 rose 2.8% during the same timeframe.


Related:Bitcoin price ‘clusters’ hint at more downside: Is BTC about to lose $64K support?Bitcoin’s price remains dragged down by ETF outflows


Bitcoin’s price is currently in a correction, following slowing inflows from the United States spot Bitcoin exchange-traded funds (ETFs).


Last week, the U.S. Bitcoin ETFs broke a streak of 20 consecutive days of net positive inflows and registered three days of negative outflows. The ETFs saw over $145 million worth of outflows on June 17, according to Farside Investors data.Bitcoin ETF flows. Source: Farside Investors


The primary reason behind the outflows is ETF investors lacking conviction and selling below their initial cost basis, according to Jag Kooner, head of derivatives at Bitfinex.


Kooner told Cointelegraph:“This is a pattern among ETF investors, where they seem to magnify market moves, as we saw a similar dynamic when there were net inflows in late April of over $1 billion when BTC range highs were above $70,000, followed by significant outflows when range lows approached $60,000.”


Magazine:Roaring Kitty’s GME shares hit $1B, BTC open interest soars, and other news: Hodler’s Digest, June 2–8# Bitcoin# Bitcoin Price# Adoption# Ether Price# Ethereum Price# Bitcoin Adoption# Bitcoin ETFAdd reaction

News Feed

Report Shows Ethereum, Litecoin, Solana ETPs Outperformed Bitcoin Investment Products in November
Report Shows Ethereum, Litecoin, Solana ETPs Outperformed Bitcoin Investment Products in November Cryptocompare, the firm that provides institutional and retail investors with real
Hashing It Out: Navigating Web3 hiring
Elisha Owusu Akyaw12 hours agoHashing It Out: Navigating Web3 hiringIn this episode of Cointelegraph’s Hashing It Out, host Elisha Owusu Akyaw confronts the realities of Web3 hiring with Pedro Oliveira, co-founder and
Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration
Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration Centralized cryptocurrency exchanges (CEX) operators say they are unfa
Shiraz Jagati10 hours agoHow AI analysis can change finance and crypto tradingFrom offering quality trade predictions to identifying real-time threats to gauging market sentiment instantaneously, here’s how AI is resha
DeFi’s ‘unknown and unpredictable’ risks curb institutional use — Fireblocks VP
Jesse Coghlan11 hours agoDeFi’s ‘unknown and unpredictable’ risks curb institutional use — Fireblocks VPInstitutions are keen on DeFi, and its use among them is growing, but on-chain risks are hamstringing furth
President of Argentina Open to Adopting Cryptocurrencies as Legal Tender
President of Argentina Open to Adopting Cryptocurrencies as Legal Tender Alberto Fernandez, the president of Argentina, stated he is open to the adoption of cryp
Japanese Regulator Slaps FTX Japan With Business Suspension Order
Japanese Regulator Slaps FTX Japan With Business Suspension Order Japan’s top financial regulator, the Financial Services Agency (FSA), has issued a business suspension order
Arijit Sarkar14 hours ago5 nations challenge crypto experts and investigators to target tax crimesThe J5 generates significant leads through events, which, in the past, has helped uncover multimillion-dollar crypto Ponzi
NFT Immutability Debate Grows as Tokenized Tweets Get Deleted and NFT Images Are Replaced
NFT Immutability Debate Grows as Tokenized Tweets Get Deleted and NFT Images Are Replaced Over the last few months, the non-fungible token (NFT) space has heated
David Attlee19 minutes agoSouth Korea arrests Bitsonic CEO for allegedly stealing $7.5M of users’ moneyThe vice president of the crypto exchange will also be put on trial without preliminary detention.128 Total views1
Nigerian crypto wallets tied to protests evade government freeze efforts
Amaka Nwaokocha1 hour agoNigerian crypto wallets tied to protests evade government freeze effortsThe discrepancies between the government’s claims and the blockchain data highlight the tense dynamic between digital fin
Avail closes $27M seed round led by Founders Fund, Dragonfly
Zoltan Vardai10 hours agoAvail closes $27M seed round led by Founders Fund, DragonflyAvail aims to use the funds to solve the fragmentation issues of the Web3 industry.4400 Total views1 Total sharesListen to article 0:00