Wealth Market Eyeing 3% Allocation to Bitcoin, Says Bitwise CIO

Following discussions with professional investors about their allocations to Bitcoin BTC/USD, "3% is the new 1%" according to Bitwise CIO Matt Hougan. "I've been speaking with professional investors about bitcoin since 2018. For the past six years, the discussion has mostly focused on a 1% allocation. That's the most that most investors would think about" Hougan wrote on X. "Boy, has that changed. Almost every investor I've spoken with has talked about a 3%+ allocation." Hougan argued the newly-launched U.S. spot Bitcoin exchange-traded funds were the primary reason for the shift, de-risking bitcoin's downside. "If ‘going to zero' is off the table, 3% or 5% starts to make more sense" he said. "True institutional investors (pensions, endowments, etc.) will still eye sub 1% allocations, but for the wealth market, 3%+ is the new new thing."

Read the full story at The Block.