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U.S. banking titan Morgan Stanley's Global Investment Committee (GIC) recommends an allocation of up to 4% of portfolios to cryptocurrency, according to an Oct. 1 note.
The 4% allocation is astatine the apical extremity of GIC's recommendations, pertaining to investors seeking "opportunistic growth," according to the note, shared connected X by Bitwise CEO Hunter Horsley connected Sunday.
Investors seeking balanced maturation oregon marketplace maturation should allocate 2% and 3% respectively. However, for those seeking wealthiness conservation oregon income, the allocation should beryllium 0%.
The GIC described cryptocurrency arsenic "a speculative and progressively fashionable plus people that galore investors, but not all, volition question to explore," adding that its commentary is focused chiefly connected bitcoin (BTC), which it said is "akin to integer gold."
For comparison, BlackRock and Fidelity, which some connection crypto concern done exchange-traded funds (ETFs) some urge an allocation of astir 2%, wherever different ETF providers Grayscale and VanEck person offered recommendations of 5% and 6%.
For galore successful the crypto industry, that large fiscal institutions specified arsenic Morgan Stanley and BlackRock urge immoderate allocation astatine each is simply a motion of however acold cryptocurrency has travel since the days erstwhile certain banking execs labelled it a "fraud".
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