Xapo CEO, Wences Casares, believes that it would be “irresponsible” for any investor not to have at least a one percent position in bitcoin as it could have a bigger impact on the world than the internet.
Minimal Bitcoin Exposure, Maximum Gains
In an essay published by Kana and Katana back in March 2019, the Xapo chief laid down an argument for Bitcoin to take up one percent of every investment portfolio. According to Casares, a $10 million with a one percent allocation to BTC could yield close to $25 million within seven to ten years.
Casares based his analysis on his forecast that BTC could top $1 million within the stated timeframe. Conversely, if Bitcoin fails, the portfolio would only have lost the original one percent – $100,000.
According to Casares:
Bitcoin offers a unique opportunity for a non-material exposure to produce a material outcome. It would be irresponsible to have an exposure to Bitcoin that one cannot afford to lose because the risk of losing the principal is very real. But it would be almost as…