Bitwise CIO: Crypto accounts for half of personal investment portfolio, and Bitcoin allocation is recommended from the perspective of overall risk

According to Foresight News, Matt Hougan, Chief Information Officer of Bitwise, published an article titled "Different Approaches to Thinking About Bitcoin's Role in a Portfolio". In the article, he states that his own portfolio is roughly equally divided among cryptocurrencies, stocks, and cash. He suggests that most current research on Bitcoin's application in investment portfolios is flawed, and the true investment strategy should be based on how an individual constructs their portfolio. Bitcoin is a risk asset, and when adding Bitcoin to a portfolio, one might need to reduce the risk in other parts of the portfolio. He advises not to consider Bitcoin in isolation, but to rethink the entire risk budget from scratch.