Most world fund managers calculate the value of bitcoin to surpass $75,000 in 12 months, in keeping with a Bank of America survey of worldwide fund managers seen by CoinDesk.
- 1 / 4 of fund managers calculate the value of bitcoin to be over $75,000 in a single 12 months, in contrast with 20% who assume it should stay comparatively flat, between $50,000 and $75,000, and 19% who assume it should fall to $25,000 to $50,000.
- Long positions on bitcoin are extra packed than these on environmental, social, and governance (ESG), the survey discovered. Long bitcoin was named in essence the most packed commerce in May and January.
- The high reply for most packed commerce was prolonged tech, with 37% of respondents, adopted by prolonged bitcoin, at 21%, and prolonged ESG, with 14% of the entire. Short US Treasuries additionally rose to 13% from about 10% final month.
- In October, entirely round 10% of fund managers named bitcoin because the most packed commerce, when it was surpassed by prolonged ESG trades, at about 17% of respondents, and brief positions on China and rising markets shares, roughly 15%.
- In November, 59% of fund managers declared bitcoin is a bubble. Back in May, 75% of respondents declared bitcoin is in a bubble zone, the Business Standard reported.
- Bitcoin additionally barely outperformed oil and gold for greatest plus class in 2022; 12% of respondents named the worlds largest cryptocurrency, in contrast with 10% for oil and gold. Emerging markets shares flat-top that listing at 34% of respondents, adopted by S&P 500 at 30%.
- The survey contains 345 fund managers from world wide, whose complete finances underneath administration are over $1 trillion.
Read extra: Market Wrap: Analysts See Bitcoin as Still in Bullish Phase, Despite Pullbacks
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