Are Institutional Investors Really Investing In Bitcoin?
9 Mar 2021 — Well at least not according to Dan Runkevicius, columnist at Forbes.
His interview with J.P. Morgan and one of the world’s leading crypto analytics firms, Chainalysis Inc., revealed that institutional investors are not investing in Bitcoin as a store of value. While data shows big investors are involved, most asset managers still prefer Bitcoin in the fund format rather than buying them as standalone.
Last week, a JPMorgan survey of 3,400 institutional investors showed that a majority 89% were not interested to invest in or trade cryptocurrencies. When asked on their opinion on Crypto, 58% of investors surveyed said cryptocurrencies are “here to stay.” and 14% answered “probably rat poison squared ” while 7% said it “will become one of the most important assets.” and 21% answered that crypto is just a “temporary fad.”
On a more positive side, 61% of Goldman Sachs’ surveyed on 280 clients were bullish on cryptocurrency investing. The survey showed that 40% of the respondents have exposure to cryptocurrencies while 61% of respondents expected their digital assets to increase in the next 12 to 24 months.
The best futurists can only guess what’s to come, but I guess only time will tell.