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Chief Investment Officer Says Bitcoin Is His Least Favorite Investment – Featured Bitcoin News

Investment bank Goldman Sachs recently held two roundtables for hedge fund chief investment officers. The bank found that they viewed bitcoin as their least preferred investment. In contrast, the latest Bank of America fund manager survey found that “long bitcoin” was the most crowded trade.

CIOs reveal their least and least favorite investments

Goldman Sachs on Saturday published a note after conducting a survey to find out which investments are favored by chief investment officers (CIOs) in the current market. Goldman Sachs strategist Timothy Moe wrote:

We held two CIO roundtables earlier this week, attended by 25 CIOs from various long-only and hedge funds. They have the most preferred development style but the least favorite on bitcoin.

In addition to the development style, the CIO favored the value style and then the commodities. His least favorite investment was bitcoin, followed by new IPOs and rate-sensitive investments.

Goldman Sachs Survey: Chief Investment Officer Says Bitcoin Is His Least Favorite Investment
The least and preferred investment for Chief Investment Officers. Source: Goldman Sachs, Bloomberg

Unlike Goldman Sachs, Bank of America (BofA) found that bitcoin was a popular trade among the asset managers it surveyed. The bank’s fund manager survey for May, in which 216 fund managers with total assets under management (AUM) of $625 billion, participated, has shown That “Long Bitcoin” was the most crowded trade in the world. In the past month, long bitcoin was the second most crowded trade.

Unlike the CIOs surveyed, analysts at Goldman Sachs are fairly bullish on the outlook for bitcoin. He recently said that there is a fear of missing out (FOMO) driving Institutional Investor for Cryptocurrency. In addition, the bank recently declared bitcoin an investable asset. new asset class.

Goldman Sachs Has Also Established a Cryptocurrency trading desk With the aim of offering the full spectrum of crypto investments. The firm said that the institutional demand B T c continues to grow significantly.

What do you think about CIOs saying bitcoin is their least favorite investment? Let us know in the comments section below.

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