BAC wealth management clients may put up to 4% of their portfolio in crypto

[Oshosondy]

You can get the news from Yahoo Finance

Bank of America says its wealth management clients may put up to 4% of their portfolio in crypto

Bank of America says according to Yahoo Finance: says its wealth management clients should start thinking about getting some crypto exposure in their portfolios. The firm is endorsing a 1%-4% allocation to digital assets for clients of its Merrill, Bank of America Private Bank, and Merrill Edge platforms. Its investment strategists will begin covering four bitcoin ETFs in January.

I know the larger part of the portfolio will be in bitcoin if it comes to fruition. More adoption is coming.

[hmbdofficial]

Bank of America says its wealth management clients may put up to 4% of their portfolio in crypto


Editing it

Do you think this could make any significant difference in the current bearish trend? Just few days back china said something like they are putting ban on all crypto related.

[Oshosondy]

Do you think this could make any significant difference in the current bearish trend? Just few days back china said something like they are putting ban on all crypto related.

I do not know much about bitcoin short term predictions, but we can see evidences that bitcoin can get to 7 digits one day. Also it is good to keep buying bitcoin even if the price is falling, unlike the altcoins that are not store of value, bitcoin price will definitely get to all time high.

[rbynxx]

Do you think this could make any significant difference in the current bearish trend? Just few days back china said something like they are putting ban on all crypto related.

Do you think it will make any difference too when in fact they've been banning Bitcoin or crypto related products in the past for like a thousand times already then they will change that stand when it's bullish? It's more like they're na indicator but it's not that they are right most of the time as they can also just speculate. Bearish in the short term but we know for a fact that in macro level Bitcoin is so undervalued.

[Cryptohygenic]

Do you think this could make any significant difference in the current bearish trend? Just few days back china said something like they are putting ban on all crypto related.

I do not know much about bitcoin short term predictions, but we can see evidences that bitcoin can get to 7 digits one day. Also it is good to keep buying bitcoin even if the price is falling, unlike the altcoins that are not store of value, bitcoin price will definitely get to all time high.

Such a perfect respond Op, hmbdofficial may tend to pull your leg like you meant to speculate about bitcoin price like the norms of short term predictions. but it is good to trial that whatever significant of bitcoin adoptors may only be reliable to be effective in the long term while Short term will always be uncertain.
However, if the bullishness of this unusual trend could extend up to next month and the clients as subjected by the bank, of course it could have significant over the market but as a just news, it is not worth hopeful but surely in the long term will always make a huge significant difference.

[Free Market Capitalist]

Bank of America says according to Yahoo Finance: says its wealth management clients should start thinking about getting some crypto exposure in their portfolios. The firm is endorsing a 1%-4% allocation to digital assets for clients of its Merrill, Bank of America Private Bank, and Merrill Edge platforms. Its investment strategists will begin covering four bitcoin ETFs in January.

I know the larger part of the portfolio will be in bitcoin if it comes to fruition. More adoption is coming.

They are not the only ones, and this is going to become more common every day. Bitcoin is an established asset, and having a small portion of it in diversified portfolios is the most reasonable thing to do. What would be unreasonable at this point is the opposite.

[betswift]

I hope that eventually it will be 10%, and then more and more to come.

Of course, they will be exposed to crypto and BTC through centralized services, but it's still adoption marching forward one way or another.

[348Judah]

You can get the news from Yahoo Finance

Bank of America says its wealth management clients may put up to 4% of their portfolio in crypto

Bank of America says according to Yahoo Finance: says its wealth management clients should start thinking about getting some crypto exposure in their portfolios. The firm is endorsing a 1%-4% allocation to digital assets for clients of its Merrill, Bank of America Private Bank, and Merrill Edge platforms. Its investment strategists will begin covering four bitcoin ETFs in January.

I know the larger part of the portfolio will be in bitcoin if it comes to fruition. More adoption is coming.

This is part of what we want, when we see the government institutions taking lead in bitcoin adoption and using it for many purposes that best fit in their demands and also allowing for a free and suitable framework regulatory for the people's use as well, because this is not more about them, but everyone of us, who deserve their financial freedom and privacy given back to them, very soon now, it will be made easier to appear in public being a bitcoiner and everyone proudly making such appearances, since the least institutions we expect now are joining in adoption.

[Hazink]

I hope that eventually it will be 10%, and then more and more to come.

Of course, they will be exposed to crypto and BTC through centralized services, but it's still adoption marching forward one way or another.

The decision on how much to invest next will be how effective and rewarding their first decision turns out to be. Now what has been said, it's just a proposal and if they eventually take that turn, the result as a company which is looking only at growth will determine what their next move will be they can't just make their raise base on speculations it will be on what really works for the companies' growth.

[Satofan44]

Do you think this could make any significant difference in the current bearish trend? Just few days back china said something like they are putting ban on all crypto related.

You've been proven wrong to negatively speculate on this. The trend has already reversed and if the price goes back to $100k soon it will become quite bullish again. People forget that there is a rate cut almost guaranteed to happen next week. The bullish movements keep adding up.

Do you think it will make any difference too when in fact they've been banning Bitcoin or crypto related products in the past for like a thousand times already then they will change that stand when it's bullish? It's more like they're na indicator but it's not that they are right most of the time as they can also just speculate. Bearish in the short term but we know for a fact that in macro level Bitcoin is so undervalued.

Of course it does. Since you guys are poor and have never had experiences with the western system, you don't understand the significant of these events. There are old and wealthy people who want to buy Bitcoin but they advisor simply would not let them. Well, as a young and naive person you'd think why don't they just change their advisor or buy on their own? You ask this because you are uneducated, but there is still hope because you are young. On average a person will want to buy something stupid many times in their lives. A good advisor will stop them. From the perspective of the client they can't be sure whether Bitcoin is a smart play or a stupid play, they thought something was a smart play in the past but it turned out to be wrong.

If you have a good advisor whom you have worked with for a long time and has delivered good results, you should stick with him. Obviously the advisor is not a God of the truth, and he will make mistakes too. Therefore some of these people will not be able to allocate wealth this way into Bitcoin which was previously not possible. I would not recommend people who are not technologically component to do self-custody. They can be scammed in just way too many ways or lose their funds. That is never good for Bitcoin.

[Zaguru12]

The decision on how much to invest next will be how effective and rewarding their first decision turns out to be. Now what has been said, it's just a proposal and if they eventually take that turn, the result as a company which is looking only at growth will determine what their next move will be they can't just make their raise base on speculations it will be on what really works for the companies' growth.

Let’s say they actually looking what happens next from here, in as far as we have that full confidence on bitcoin I don’t think that they would actually just put out large amounts on bitcoin for now. We all know that most of these companies or institutions actually still regard bitcoin as a volatile asset and are a little bit wary about the amount they put out to it. We can all recall the amount that Microstrategy actually started investing into bitcoin and how its grew from those numbers and now looks like a whole junk of the companies funds are in bitcoin.

I am very confident that after this first trial we will see the likes of BAC accumulating bitcoin just like MSTR because it’s only a pump and dump assets that one can actually say they are not confident about. For now it’s going to be this little additions. As for its impact on the bitcoin price all this will be a gradual process before we see significant impact

[Z-tight]

Do you think this could make any significant difference in the current bearish trend? Just few days back china said something like they are putting ban on all crypto related.

BTC price is ~ $89k-$90 right now, it is really hard to call it a bearish market just yet. BTC could easily push up and above $100k, and just like that, people would forget about the dip we had and start talking about the possibility of a new all time high. And are you seriously taking any crypto news coming out of China seriously?

Now to the story in the op, it is 'adoption', so it is a good thing. From the source, the wealth advisors couldn't previously recommend crypto exposure, but now they can, so yeah. 1%-4% may not sound so big, but it is fair enough as they try as much as possible to manage the risk of volatility, and the % could also go up in the future.

[Fiatless]

I am very confident that after this first trial we will see the likes of BAC accumulating bitcoin just like MSTR because it’s only a pump and dump assets that one can actually say they are not confident about. For now it’s going to be this little additions. As for its impact on the bitcoin price all this will be a gradual process before we see significant impact

Banks are gradually exposing customers to crypto assets. Previously, banks discouraged customers from buying crypto assets for several reasons. I guess that the demand for crypto exposure is increasing and they have no option than to offer these services.  1-4% crypto exposure is just the beginning, it might increase in the future.

The impact might not be felt instantly, but it's good news for crypto investors.

[Zaguru12]

Banks are gradually exposing customers to crypto assets. Previously, banks discouraged customers from buying crypto assets for several reasons. I guess that the demand for crypto exposure is increasing and they have no option than to offer these services.  1-4% crypto exposure is just the beginning, it might increase in the future.

The impact might not be felt instantly, but it's good news for crypto investors.

Personally I will say they saw competition and that’s the one of major reason why they actually did that because supporting bitcoin is simply like actually giving room to users actually leaving off some things they do with fiat with bitcoin offering more hassle free options in some areas than fiat, for example the issue of cross boarder payment most especially the one which requires conversion of one fiat currency to another, the use of bitcoin makes this payment method effectively possible without goinv through the long route.

Then the major problem to me which hindered bitcoin been accepted by banks was the government, to me the government actually had its influence on them. Since they were been heavily regulated, government restrictions was definitely going to be same thing restricted too, this one of the major reasons why we even need financial freedom