River: Long-term investors can allocate up to 10% to Bitcoin

Bitcoin financial services company River released a report written by Sam Baker, stating that the traditional 60/40 stock-bond portfolio is no longer applicable and recommending that long-term investors increase their Bitcoin allocation to up to 10%.

The report indicates that from 1980 to 2020, the annualized return of this portfolio was about 5% to 15%, but inflation, debt, and the correlation between stocks and bonds have reversed, with U.S. Treasury bonds exceeding $40 trillion by August 2026. Simulations over the past decade show that by replacing part of the bonds with 10% Bitcoin, the portfolio's terminal value increased from $25,364 to $60,595, with the maximum drawdown only increasing by 6 percentage points. As of August 2026, Bitcoin accounts for about 0.5% of global financial assets.