- The Bank of America (NYSE:BAC) (BofA) has officially released its June Global Fund Manager Survey
- 81% of fund managers believe that Bitcoin is still in a bubble state
The Bank of America (BofA) has officially released its June Global Fund Manager Survey this week. Specifically, this June 4-10 survey covers many financial issues, including the market position of Bitcoin. As a result, 81% of fund managers continue to believe that Bitcoin is still in a bubble state.
Fund managers added that investors view commodities as the most crowded trade compared to Bitcoin. “Long commodities” is now the most crowded trade, overtaking “long bitcoin” which is now the second most crowded trade. The third most crowded trade is “long tech stock,” followed by “long ESG,” “short U.S. Treasuries,” and “long euro,” they said.
However, despite the result of the survey, many financial institutions and investors continue to believe in Bitcoin. For instance,
This article was first published on coinquora.com