Allianz, the $2.5 trillion asset manager, has formally recognized Bitcoin as a “credible store of value” in a recent investment report, reversing its 2019 opposition to bitcoin investments.
The report, titled “Bitcoin and Cryptocurrencies: The Future of Finance,” outlines Bitcoin’s evolution from an experimental protocol to a major asset class.
Allianz emphasized the asset’s deflationary design, decentralized governance, and low correlation to both traditional equities and gold, stating:
“Bitcoin’s deflationary design, decentralised governance, and low correlation to traditional markets have made it an attractive hedge and long-duration asset.”
Institutional adoption accelerates
Driving this shift is surging institutional adoption.
Allianz noted that public companies acquired over 131,000 BTC in the second quarter alone, with corporate treasuries surpassing exchange-traded funds in bitcoin purchases for three straight quarters.
The report also highlighted university endowments, specifically Emory University, as early institutional adopters.
Federal Reserve Chair Jerome Powell’s recent comments likening bitcoin to “digital gold” further validated this trend, according to Allianz.
Infrastructure enables access
Allianz credited the maturation of regulated exchanges such as Coinbase, institutional custodians like Fidelity, and the introduction of SEC-approved spot bitcoin ETFs for bridging the gap between traditional finance and bitcoin markets.
These developments have helped eliminate previous regulatory barriers to institutional investment.
Bitcoin’s role in portfolio construction
Allianz cited bitcoin’s 0.12 correlation to the S&P 500 and negative 0.04 correlation to gold, positioning it as an effective portfolio diversifier.
The company now considers bitcoin “a cornerstone of our global financial future,” and expects continued growth in real-world asset tokenization and decentralized finance.
Long-term endorsement
The report concludes that, barring technological catastrophe, bitcoin should be seen as a permanent component of the financial system, not a speculative trend.
Allianz’s endorsement, as one of Europe’s largest asset managers, marks a significant milestone for mainstream bitcoin adoption.
