Bank of America published a new survey that shows that most professional investors are not very optimistic about the largest cryptocurrency in the world.
Nearly 75% of respondents in an April BofA fund manager survey said they viewed Bitcoin as a bubble, according to CNBC.
The survey included 200 respondents with assets valued at $ 533 billion. Only 16% of respondents said Bitcoin is not a bubble and 10% are unsure.
Source: Yahoo Finance / BofA Global Fund Managers Survey.
More than 30% of respondents described the technology as the most popular deal, i.e. an asset with a history of rapid price increases and a large number of like-minded speculative investors 27% of survey respondents said Bitcoin was the busiest transaction at the moment, while 10 expected % That BTC will overtake this technology in 2021.
Bank of America published an earlier survey showing that “bitcoin long” had turned into “long-tech” deals as the most massive deal in January 2021.
A recent BofA survey is casting deep skepticism about Bitcoin after bank analysts recently dismissed the cryptocurrency as a “highly volatile”, “impractical” and environmentally catastrophic source.
Other major US banks are more optimistic about digital assets. After Goldman Sachs reported that 40% of customers already had access to cryptocurrency since March 2021, the investment bank announced that it was preparing a Bitcoin product. Also in March, JPMorgan announced its Cryptocurrency Risk Basket, a portfolio of debt instruments that includes shares of companies that hold Bitcoin shares.