BlackRock Sees Maturity in Bitcoin, Recommends Allocation to Long-Term Portfolios

BlackRock has recommended a Bitcoin allocation of between 1% and 2% as a complementary diversifier in long-term portfolios. This move is seen as a significant step towards mainstream acceptance of cryptocurrency, with the firm noting that it believes Bitcoin is maturing.

The recommendation comes as part of BlackRock's efforts to provide financial advisors with guidance on investing in alternative assets. The firm has stated that it considers Bitcoin to be a 'complementary diversifier' and not a substitute for traditional investments.

Meanwhile, Framework Ventures has closed its fourth fund, which will focus on investing in companies beyond the blockchain space. This marks a shift in strategy for the venture capital firm, which has previously focused primarily on blockchain-related startups.