Overview

• In its report, “Bitcoin and Cryptocurrencies: The Future of Finance,” the $2.5 trillion manager elevates Bitcoin to a prospective cornerstone of modern portfolios.
• Allianz cites low correlations as key to diversification, noting a 0.12 correlation with the S&P 500 and a -0.04 reading versus gold.
• Accelerating institutional uptake underpins the shift, with corporate treasuries outpacing ETFs for three straight quarters and public companies buying about 131,000 BTC in Q2.
• Maturing market infrastructure enables access, including regulated venues like Coinbase, institutional custody from Fidelity Digital Assets, and SEC-approved spot Bitcoin ETFs.
• The report flags conditional permanence, stating Bitcoin’s role endures absent a regulatory or technological calamity, while pointing to signals of legitimacy such as Jerome Powell’s “digital counterpart to gold” remark and endowment disclosures led by Emory University.