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The best time to buy bitcoin was 'yesterday' and allocating 4% of a portfolio is a good bet, a chief strategist at CoinShares says

Published by Business Insider on Mon, 22 Feb 2021

<p><img src="https://static2.businessinsider.com/image/601194c06dfbe10018e003e7-2400/GettyImages-1168908851.jpg" border="0" alt="Bitcoin 1" data-mce-source="Francesco Carta fotografo/ Getty Images"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul class="summary-list"><li>The best time to buy bitcoin was "yesterday" and the second best is "today," a chief strategist told CNBC.</li><li>Investors should consider a 4% allocation of bitcoin to their portfolios, Meltem Demirors said.</li><li>"A 4% allocation to bitcoin balances the reward, as well as the risk of drawdowns."</li><li><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</strong></li></ul><hr><p>The ideal time to invest in bitcoin has already slipped by, according to Meltem Demirors, chief strategy officer at digital asset investment firm CoinShares.</p><p>"The best time to invest in bitcoin was yesterdaythe second best time to allocate is today," she told <a href="https://www.cnbc.com/2021/02/22/investing-in-btc-best-time-to-invest-in-bitcoin-was-yesterday-says-strategist.html">CNBC's "Squawk Box Asia</a>" on Monday.</p><p>Demirors believes <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-cryptocurrency-should-be-curtailed-terrorism-concerns-yellen-2021-1-1029985692https://www.businessinsider.com/blockchain-cryptocurrency-regulations-us-global">regulatory concerns</a> around cryptocurrencies, which have been around for a long time, are unlikely to thwart investor plans to allocate bitcoin to their portfolios. "At this point, our belief is: Bitcoin is not a question of if, but when," Demirors said.</p><p>The size of the <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> market recently <a href="https://markets.businessinsider.com/currencies/news/bitcoin-market-value-1-trillion-for-the-first-time-cryptocurrency-2021-2-1030102808">shot past $1 trillion</a> as it hit a record high of $58,354. The digital token was trading lower around $52,976 on Monday, but it has still gained 92% year-to-date. A flurry of adoption by major Wall Street players and large companies such as Tesla, Bank of New York Mellon, and Mastercard has added to its epic rally this year.&nbsp;</p><p>That said, Demirors said investors should not allocate significant portions of bitcoin to their balance sheets.</p><p>"Our research has found that in a traditional 60-40 portfolio, a 4% allocation to bitcoin balances the reward as well as the risk of drawdowns," she said. The 60-40 portfolio mix is considered the simplest strategy for those investors who want diversified streams of income. It involves placing 60% in equities and 40% in fixed income.</p><p>Will Hobbs, an investment chief at Barclays, is <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-outlook-btc-cultist-magical-thinking-barclays-cryptocurrency-2021-2-1030103875">more skeptical about bitcoin</a>. He told Insider the digital asset sounds "increasingly cultist" and a rise in interest rates could dent the world's most popular cryptocurrency. Hobbs said Barclays considers two factors in asset allocationpositive expected return and diversification appeal.&nbsp;</p><p>"Now it may well be over time that bitcoin satisfies both of those. But at the moment it's very hard to say," he said.</p><p><strong>SEE ALSO:&nbsp;<a href="https://markets.businessinsider.com/currencies/news/tesla-bitcoin-profit-scored-billion-dollar-bet-wedbush-estimate-2021-2-1030106654" >Tesla has scored profits worth $1 billion on its bitcoin bet, a Wedbush analyst estimates</a></strong></p><p><a href="https://markets.businessinsider.com/currencies/news/bitcoin-investment-best-time-was-yesterday-strategist-coinshares-2021-2-1030108119#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/pikes-peak-hill-climb-colorado-most-dangerous-racetrack-2020-2">Why Pikes Peak is the most dangerous racetrack in America</a></p>
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