Crypto: The New Gold? BBVA Says Yes! 💰

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So, here we are, folks. BBVA, this big Spanish bank, has decided to dip its toes into the crypto pool. Since late 2024, they’ve been whispering sweet nothings about Bitcoin and Ether to their wealthy clients in Switzerland. Philippe Meyer, the guy in charge of digital and blockchain solutions—whatever that means—says, “Hey, why not throw 3% to 7% of your portfolio into crypto?” Because, you know, who doesn’t want to gamble with their money? 🎲

Early Adoption Timeline

They started trading crypto back in 2021 for a select few. By September 2024, they were like, “Okay, let’s officially recommend a 3% Bitcoin stake.” Now, if you’re feeling a bit adventurous, you can go up to 7%! Wow, what a leap of faith! 🙄

But hey, it’s all about confidence, right? BBVA is strutting around like it’s the king of the crypto jungle. 🦁

Client Reaction And Risk Views

Surprisingly, clients are actually on board with this. Meyer claims that even a measly 3% can “boost performance.” Sure, it sounds great until Bitcoin drops 20% in a week. But hey, who cares? Let’s ride those waves! 🌊

According to Reuters, BBVA has been advising its private banking clients since September 2024 to allocate 3% to 7% of their portfolios to cryptocurrencies. Because, why not? Live a little! 🎉

— Wu Blockchain (@WuBlockchain) June 17, 2025

Regulatory And Market Context

Now, let’s talk regulations. The EU rolled out its Markets in Crypto-Assets regulation (MiCA) at the end of December 2024. But guess what? 95% of EU banks are still avoiding crypto like it’s the plague. BBVA, however, is the odd one out. They got the green light to trade Bitcoin and Ether in March 2025. Go figure! 🤷‍♂️

Next Steps For App And Investors

BBVA is planning to roll out some fancy new features in their app for buying, selling, and managing portfolios. But don’t get too excited; it’s starting with a select few clients. Classic banking move, right? 🙄

Meanwhile, other banks like Santander are busy dreaming up their own stablecoins. BBVA’s bold move might just kick off a crypto revolution. Or it could crash and burn spectacularly. Who knows? 🤷‍♀️

For now, only the rich folks are getting this crypto advice. But if BBVA’s strategy pays off and they survive the next market crash, maybe, just maybe, other banks will jump on the bandwagon. Imagine that! Crypto alongside stocks, bonds, and real estate. What a world! 🌍

But let’s be real—the real test will come when Bitcoin or Ether takes a nosedive. If BBVA’s cautious plan can withstand that, it might just change the game for how finance views digital assets. Or it could just be another episode of “What Were They Thinking?” 😅

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2025-06-18 17:52