Bitcoin's journey from obscure technology project to mainstream investment consideration has been marked by extraordinary volatility, spectacular fraud and genuine innovation.
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Institutional Adoption
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The approval of spot Bitcoin ETFs in the United States has brought institutional capital into the market at scale. BlackRock, Fidelity and other major asset managers now offer Bitcoin exposure.
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The Regulatory Landscape
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The UK's Financial Conduct Authority has established a registration regime for crypto businesses. Full regulation of the sector is expected to be in place by 2026.
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Our Assessment
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Cryptocurrency deserves a place in a diversified portfolio — but position sizes should reflect the remaining uncertainties. A 1-5% allocation is appropriate for most risk-tolerant investors.
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