According to a study by Bank of America, 74% of institutional investors see Bitcoin as a bubble, while only 16% hold the opposite view.
Fund managers have called Bitcoin a popular asset, second only to technology stocks. Another 10% of investors believe that Bitcoin will be the best investment asset of the year.
Note that earlier the analytical company Xangle presented its research, according to which 72% of investors are still convinced that Bitcoin is a bubble that will burst in the near future. Nevertheless, 79% of respondents invest in cryptocurrency for long-term and short-term speculation, as they see bitcoin as a store of value that will bring high returns either through short-term investments or through buying and holding.
American investors cut investments in bitcoin
Despite the fact that bitcoin is growing rapidly and has already exceeded the $ 63,000 mark, American investors are gradually reducing their investments in this asset. According to published data from CoinShares, the number of US investments has been steadily declining since February 2021.
However, this picture is only seen in the United States. According to CoinShares, the decline in investment interest in cryptocurrencies is regional. For example, in Europe and Canada, interest in the cryptocurrency market remains the same. At the same time, over the past week, the bitcoin market recorded an inflow of $ 85 million.
At the same time, retail investors are trying to keep up with the institutional in terms of the volume of Bitcoin purchases. Since the beginning of the year, private investors have bought more than 187 thousand BTC (~ $ 10.3 billion).
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