Only 10% of JPMorgan’s institutional investment firms surveyed trade cryptocurrencies. A third of respondents described digital assets as ‘rat poison’, according to Reuters.<\/p>\n
On June 22 at the Macro, Quantitative and Derivatives conference, the financial holding company surveyed about 3,000 investors from around 1,500 institutions. 80% of organisations among those who had not invested in cryptocurrencies said they do not intend to do so in the future.<\/p>\n
When asked about personal investments in digital assets, 40% of respondents said they interact with these instruments.<\/p>\n
80% of investors expect regulators to impose tighter controls on the new asset class, and 95% of them believe that fraud in the cryptocurrency space is present to some degree or is widespread.<\/p>\n
In 2018 Berkshire Hathaway chief Warren Buffett called Bitcoin ‘rat poison squared’. A third of participants agreed with this assertion. A further 16% consider digital assets a ‘temporary fad’.<\/p>\n
Earlier Berkshire Hathaway invested $500 million<\/a> in the crypto-friendly Brazilian neobank Nubank.<\/p>\n Back in June 2021, 81% of Bank of America’s fund managers described the Bitcoin market as a bubble<\/a>. In May, 75% of respondents held that view.<\/p>\n