JPMorgan note to clients endorses 1% allocation to Bitcoin as a hedge
Strategists at Wall Street banking giant JPMorgan (NYSE:) have suggested that a one percent portfolio allocation to would serve as a hedge against fluctuations in traditional asset classes such as stocks, bonds, and commodities.
A small percentage allocation was advised to mitigate the risk of any large downturns in the digital asset’s value. Bitcoin has declined 20% since its all-time high of over $58,000 on Feb. 21 but it is up 60% since the beginning of this year.
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