Favorite?: Goldman Sachs: What Hedge Fund Investment Managers Really Think About Bitcoin | message

?? Bitcoin Recently Consolidated in the $40,000 Range
?? Goldman Sachs Survey: Bitcoin Least Popular Asset Class by Hedge Fund Investment Directors
?? Gold and Bitcoin Could Benefit From Inflation, According to Troy Gesky

Bitcoin is having a tough time again lately

The most popular cryptocurrency has had some extremely volatile months. After a strong rally at the start of the year, including a new all-time high of $64,829 was achieved in April, bitcoin fell below $40,000 following a re-emerging discussion about the environmental compatibility of the cyber currency. Negative attitude by China and general profit taker and is currently consolidating at this level. The previous bull run was partly attributed to increased institutional investors and investments by large companies and fund managers. However, a new survey by Goldman Sachs paints a different picture.

Survey shows little interest from hedge funds in bitcoin

In a Goldman Sachs poll published on MarketWatch, 25 hedge fund managers were asked to name their favorite and least popular asset classes. According to the survey, the most popular asset class among experts is growth stocks. More than 50 percent of those surveyed named this category as their preferred asset class. It was followed by value stocks and commodities. According to this survey, the least popular asset class is bitcoin, according to 35 percent of hedge fund managers. IPOs were the least popular asset class among hedge fund investment majors after bitcoin. Even though only 25 CIOs participated in this survey, it is clear that bitcoin does not seem to be the focus of hedge funds and bitcoin is the least popular asset class for over a third of experts.

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Separate survey – more optimistic outlook

Contrary to this survey, a global fund manager survey conducted by Bank of America in early May showed that bitcoin-long was the busiest trade, as reported by MarketWatch’s Callum Keon. Troy Gesky, Co-CIO and Senior Portfolio Manager at Skybridge Capital, was also confident about the cryptocurrency with regards to the Invaze portal. Due to fears of rising inflation, he sees good opportunities for gold prices to rise – but prefers bitcoin, as the asset offers even greater potential upside potential. So it becomes clear that opinion on bitcoin is still very divided. The timing of the surveys certainly plays an important role. The month between the two surveys is a long period in which a lot can change in the field of cryptocurrencies, a highly volatile asset class. It remains to be seen whether large and institutional investors like hedge funds really avoid bitcoin or whether bitcoin will soon regain its old strength.

Finanzen.net Editorial Team

Image Source: Jaruwan Jayangyuen/Shutterstock.com, Parilov/Shutterstock.com

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