Bitwise CIO：投资者应重新思考比特币在传统投资组合中的作用，避免单独添加比特币
PANews 6月4日消息，据The Block报道，Bitwise首席投资官Matt Hougan建议投资者重新思考比特币在传统投资组合中的角色。他指出，虽然比特币波动性较高（是标普500指数的3-4倍），但由于其与股票、债券相关性低，在传统60/40股债组合中加入5%比特币（2017-2024年）可使总回报从107%提升至207%，而波动率仅从11.3%微增至12.5%。Hougan强调，不应孤立配置比特币，而应结合整体风险预算调整组合——例如在配置5%比特币的同时增持5%短期国债，理论上可降低权益风险。历史数据显示，将权益比例降至40%、债券增至50%、比特币配置10%的组合，能实现更高回报且风险更低。但他同时提醒，比特币早期回报或不可持续，未来表现可能不同。
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