The latest Bank of America (BofA) fund manager survey shows that the majority of professional investors believe that Bitcoin is just a bubble!
Recently, the price of bitcoin rose above the $63,000 mark, but the latest Bank of America survey, cited by foreign news wires, shows that nearly 74% of respondents say they view bitcoin as a bubble, with only 16% holding the opposite view, indicating that most professional investors believe that bitcoin is highly speculative.
Fund managers also ranked bitcoin as the No. 2 “most crowded trade,” behind technology stocks. The survey also showed that more than 3/10 respondents chose technology stocks as the “most crowded trade,” with 27% saying bitcoin was the most crowded.
The survey was reportedly conducted by Bank of America for 200 asset managers with $533 billion in assets under management.
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