Bitcoin Belongs In An 'Ideal' Portfolio, Says BlackRock Executive, But Thinks A 5% Allocation Is High
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Rick Rieder, BlackRock's Chief Investment Officer, stated that an ideal portfolio should include hard assets like gold and Bitcoin, but he considers a 5% allocation to Bitcoin as high. He suggested a more reasonable range of 1-2% for Bitcoin in multi-asset portfolios, citing that exceeding 2% could increase risk. Rieder noted that Bitcoin behaves more like a risk-on asset, correlating with the Nasdaq, rather than serving as a hedge against inflation like gold. Currently, Bitcoin is trading at $112,351, down 0.52% in the last 24 hours.
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