According to Shapeshift CEO Erik Voorhees, Bitcoin has proven itself over the last 12 years and should now be at least 1% of every portfolio allocation.

Bitcoin (BTC) has arguably been one of the most appreciative assets in history. Over just 12 years, it has beaten every other commodity and stock for ten years of its existence. As BeInCrypto previously reported, it has outperformed every other asset in the 2010s. Now that the next halving is almost upon us, it seems clear that every portfolio should have at least 1% of its allocation in Bitcoin.

These thoughts were echoed by Erik Voorhees, the CEO of Shapeshift, earlier today. Bitcoin has effectively beaten the market, and it’s time for mainstream portfolio managers to take notice.

For some reason, however, the mainstream investment community continues to be suspicious of Bitcoin. Not only is it not a fixture of most portfolios, but it is seen as a risk-on asset which should not have a permanent place in one’s portfolio. Yet, history has demonstrated Bitcoin’s resilience, and this upward trajectory does not look like it’s slowing down.

One replier (@AdvenireWealth) to Voorhees told of his difficulties in convincing his ‘portfolio specialist’ co-workers about the merits of Bitcoin. This story is likely one which many are familiar with: the management board was against Bitcoin as a store of value. This is despite the fact that “port annual yield will make up most or all of the allotted allocation if it goes to zero.”

Many cryptocurrency fans in the financial world have reported on these same difficulties. The story is the same every time: Bitcoin remains perceived as far too risky for most portfolio managers, and they would rather sit out.

How long will it take for Bitcoin to be accepted by portfolio managers as deserving of an allocation? This shift likely won’t happen until the asset’s next all-time high. However, an allocation of 1% does seem fair, given the leading cryptocurrency’s returns over the last 12 years. If Bitcoin can break the $20,000 price point again, portfolio managers will once again take notice. Perhaps then, they will give Bitcoin its proper allocation in their portfolios.