Goldman Sachs Survey: Bitcoin Is Not Attractive For Investment

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The decline in Bitcoin from all-time highs has impacted the perception of cryptocurrency among investment managers. These are the results of a new survey by Goldman Sachs.


“We held two roundtables with 25 investment directors from hedge funds and funds holding only long positions,” the organizers of the survey said. Participants were asked questions about their views and predictions, including their favorite investing style or asset class.




“The preferred growth style turned out to be, and the least preferred – bitcoin,” the publication says. Bitcoin was named the least attractive asset by 35% of respondents. It is followed by new initial public offerings (IPOs) with a 25% stake.


In the first half of May, even before the market declined, a similar survey among stock managers was conducted by Bank of America. Then they were asked to name the most popular type of transaction on the market without taking into account personal preferences, and most of the respondents called such a transaction a long position on bitcoin. In the Bank of America survey, 216 managers took part, controlling assets worth $ 625 billion.

Bitcoin is trading at about $ 36.6 thousand today, after last week it could not hold above $ 39,000. Traders are in no hurry to place capital in cryptocurrency, not seeing clear confirmation of the direction of the trend. Market volatility has eased compared to the extreme levels in May, but is still elevated relative to April.

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