Asian hedge fund managers favor Bitcoin growth: Goldman Sachs survey


Earlier this week, a Bank of America survey found that U.S. hedge fund managers favor Bitcoin (Bitcoin), but Goldman Sachs’ survey of Asian chief investment officers tells a different story.

Goldman Sachs Global Investment Research Publish A new survey surveyed 25 chief investment officers from different hedge funds. The results showed that Bitcoin was the least favorite investment category for 35% of participants.

Goldman Sachs strategist Timothy Moe wrote: “Earlier this week, we held two CIO roundtable meetings. 25 CIOs from various long funds and hedge funds attended the meeting. Their favorite is the growth style, but the most I don’t like Bitcoin.”

Goldman Sachs Global Investment Research Survey. Source: Bloomberg.

New initial public offerings or IPOs followed Bitcoin as the least popular investment style, accounting for 25%.

On the other hand, more than half (55%) are in favor of growth investment, that is, investing in companies with strong earnings growth. The second is value investment (30%), in other words, looking for undervalued assets in the market.

Although the sample size of the poll is small, the Goldman Sachs poll is Bank of America’s recent investigation (Bank of America). According to the Bank of America survey, based on the responses of 194 fund managers with assets valued at $592 billion, the “long bitcoin” bet is now the most crowded transaction in all markets.

According to a survey conducted by the Bank of America, “multi-bit bitcoin” even surpassed the “multi-head technology” of transactions, with nearly 45% of respondents preferring the largest cryptocurrency to technology. Bank of America pointed out in its survey comments that transactions that were determined to be crowded have always heralded the peak of their respective markets.

After a bearish month, Bitcoin’s June start was not smooth.As Miners sold more than 5,000 BTC In the past week, Bitcoin fell below $33,000 for the first time since May 23.

This The global crypto market loses about 500 billion U.S. dollars Only this week. The losses in the last two months after peaking in April completely wiped out the market growth in the previous quarter.