Digital currency Bitcoin has been a hot topic in the industry recently, but for some reason it seems investors and executives in the financial industry have a distaste for it. During the most recent UBS Global Asset Management’s (UBS’s) annual Investment Outlook conference, senior investment officers spoke of their least favorite pieces of advice on Bitcoin and other cryptocurrencies.
What is the most popular cryptocurrency in the world? There’s no shortage of options, and among the most popular are bitcoin, Ethereum and Litecoin. All three are available on various exchanges, and you can buy them online with a credit card, PayPal or even cash. But not all of these digital currencies are created equally.
A group of Goldman Sach’s investment officers from around the world recently issued a report that details their opinions on the country’s different crypto assets. The opinions were collected from different investment managers, bank executives, hedge fund managers, and asset allocators.. Read more about is bitcoin an asset a commodity or a currency and let us know what you think.The investment bank Goldman Sachs recently held two roundtables for hedge fund managers. The bank revealed that it considers bitcoin to be its least popular investment. In contrast, a recent Bank of America survey of fund managers found that going long on bitcoin was the most popular.
CIOs reveal their most and least favorite investments
On Saturday, Goldman Sachs published a note after conducting a survey to determine which investments are preferred by chief investment officers (CIOs) in today’s market. Timothy Moe, strategist at Goldman Sachs, wrote: Earlier this week, we hosted two CIO roundtable discussions with 25 CIOs from various long-term funds and hedge funds. They like growth style the most, but bitcoin the least. In addition to the growth style, CIOs preferred the value style and then commodities. Bitcoin is their least favorite investment, followed by new IPOs and interest rate sensitive investments. Chief Investment Officers’ most and least favorite investments. Source: Goldman Sachs, Bloomberg Unlike Goldman Sachs, Bank of America (BofA) found that bitcoin is a popular trade among the asset managers it surveyed. The bank’s May survey of fund managers, which included 216 fund managers representing $625 billion in assets under management (AUM), found that long positions in bitcoin are the most highly valued in the world. The previous month, long bitcoin was the second most popular transaction. In contrast to the CIOs surveyed, Goldman Sachs analysts are fairly optimistic about the prospects for bitcoin. They recently argued that the fear of missing out on profits (FOMO) is driving institutional investors to cryptocurrencies. Moreover, the bank recently announced that bitcoin is an investable asset and a new asset class. Goldman Sachs has also set up a cryptocurrency trading desk to offer a full range of cryptocurrency investments. The company said institutional demand for BTC continues to grow significantly. What do you think of the fact that CIOs say bitcoin is their least favorite investment? Let us know your comments in the section below.
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asset manager, bank of america, bofa, cio bitcoin, cio crypto, cio cryptocurrency, cio survey, fund manager, goldman sachs, goldman sachs bitcoin, goldman sachs survey Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.Bitcoin enthusiasts have become increasingly frustrated over the past year as more big-name financial institutions, including Bitcoin exchanges Bitfinex and Kraken, have been hacked. Meanwhile, the cryptocurrency is becoming more popular with the public, with the price of a single coin rising from $1,000 in early 2017 to nearly $20,000 at the end of the year. However, few people have been as outspoken about their negative opinions of Bitcoin, as the chief investment officers of Vanguard Group and BlackRock Inc.. Read more about bitcoin can be classified as an investment asset a currency a commodity or a speculative asset and let us know what you think.
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