According to CNBC reports, Citigroup research indicates that adding gold and Bitcoin to the traditional "60/40" (stocks + bonds) portfolio over the past 10 years can improve portfolio efficiency. Citigroup states that allocating about 5% to gold alone can significantly enhance performance; if this portion is split between gold and Bitcoin, returns are further increased without significantly raising risk. Citigroup analyst Alex Saunders said that this "Gold + BTC" combination outperforms the traditional 60/40 in a strong bond environment and performs better during a "bear steep" market. Citigroup also mentioned that in the recent context of geopolitical conflicts and market volatility, Bitcoin's relative performance during periods of weak bond markets has sometimes surpassed gold: in the past two months, BTC has risen about 9%, while spot gold has fallen about 4%.