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Bank of America Survey: 74% of Fund Managers See Bitcoin as a Bubble

The most recent Bank of America Fund Manager Survey shows that about three out of four professional investors think that bitcoin is a bubble. The fund managers also rated bitcoin second on the list of the most crowded trades. Recently, investment bank JPMorgan also warned that cryptocurrency as a sector is in a bubble. Bank of America Survey Shows Most Fund Managers Think Bitcoin Is a Bubble The Bank of America Fund Manager Survey for April shows that the majority of fund managers see bitcoin as a bubble. The survey asks 200 fund managers with $533 billion in assets under…

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Nearly 75% of professional investors see Bitcoin as bubble: survey

Bank of America asked 200 professional investors with $533 billion in assets under management about their opinions on Bitcoin. Bank of America released a new survey that found that the majority of professional investors are not very optimistic about the world’s largest cryptocurrency. Nearly 75% of respondents in the April BofA Fund Manager Survey said that they see Bitcoin as a “bubble,” CNBC reported. The survey polled 200 respondents with $533 billion in assets under management. Just 16% of respondents said Bitcoin is not a bubble, while 10% were uncertain. Source: Yahoo Finance/BofA Global Fund Manager SurveyMore than 30% of survey…

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74% Of U.S Investors Believe Bitcoin Is A Bubble: Bank Of America Survey

Bitcoin’s institutional adoption has been off the charts in the past year, with Wall Street finally jumping aboard the Bitcoin bandwagon. However, a new report has revealed that only a few believe in its potential, despite the public show of support and heavy investment. The survey showed that one in three investors believe the top cryptocurrency is a bubble. The Bank of America Fund Manager Survey sought to capture investors’ sentiment at a time when the crypto and stock markets are thriving. Bitcoin is trading above $63,000 for the first time ever, having set a new record at $63,724. The…

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Bitcoin’s Value Surpasses that of Four Prominent Banks in America

Going by an April 10, 2021 tweet from Documenting Bitcoin, the value of Bitcoin has exceeded a combination of America’s top financial institutions. The four banks included on the list include Citibank, JP Morgan, Wells Fargo, and the Bank of America.  #Bitcoin is now worth more than the four largest banks in the United States, Read More

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Mike Coyler Thinks Renewable Energy Can Play a Role in BTC’s Future

Bitcoin has been taking a lot of guff in that it allegedly leaves behind a serious carbon footprint. Many new reports have emerged over the past week claiming the process of extracting new coins does heavy damage to our environment and that it uses more energy than various countries. However, according to figures like Mike Coyler – chief executive of Foundry – bitcoin can somehow serve as a link between present energy and renewable energy, and perhaps the nasty, environmentally-unfriendly attitude it’s garnered over the years isn’t entirely justified. Mike Coyler: Bitcoin Can Operate on Renewable Energy Foundry is a…

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Bank of America report extols the virtues of HODLing

New research from the multinational investment bank confirms what many of us knew all along: Investors should never try to time the market. When it comes to investing in the financial markets, panic selling often leads to missed opportunities – and waiting for the dip could rob you of the most lucrative days to hold a particular asset. Those are the general takeaways of a comprehensive study of the S&P 500 Index conducted by Bank of America.  Using data going back to 1930, Bank of America strategists found that a basic hold strategy would have yielded total returns of 17,715%.…

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Bank of America Condemns Bitcoin for Its Alleged Energy Use

There is a long-lasting argument in the world of crypto that bitcoin is somehow negative for our environment. That it utilizes too much electricity, and as a result, our atmosphere is likely to take a real kick in the rear at some point in the future. Now, that argument is being pushed further, as data from Bank of America suggests the mining sector utilizes more energy than American Airlines, a company that flies more than 200 million people across the country each year. Bank of America Is Really Hating On BTC Bank of America was recently in the news for…

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Report: Blockchain Patents ‘Skyrocket’ in 2020, Alibaba Owns the Most Crypto Patents

A study from the team at Kisspatent shows that Alibaba Group is the largest blockchain patent holder in 2020 capturing 10x the number of patents held by IBM. The report notes that blockchain patents “are skyrocketing” this year and so far in 2020, there’s been more distributed ledger technology and cryptocurrency patents published than all of 2019. It seems distributed ledger technology and cryptocurrency solution patents are becoming a thing again in 2020. A few years ago various reports said that Bank of America (BoA) and the firm Nchain were gobbling up all the patents applied to digital assets and…

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Nigeria Foreign Exchange Crisis: Worsening US Dollar Shortages Point to Further Devaluation

Pressure on Nigeria’s current exchange rate is likely to get worse in 2021, when the expected recovery of imports is set to force another devaluation of the local currency to N430/$ next year, according to two Bank of America analysts. Earlier rate adjustments, one in March and another in July, already appear to have failed to ease the pressure. Before the latest devaluation, the Central Bank of Nigeria (CBN) maintained an exchange rate of N360/$. Since the devaluation, the Naira has officially been trading at N380/$ and higher. In their predictions published in the local media, the two analysts, Rukayat…

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Bitcoin’s Market Cap Is Now Greater Than That Of Bank Of America Following Latest Rally

Bitcoin has been steadily climbing. On Monday, the flagship crypto surged to a new 2020 high just above $12,400. This recent bitcoin bull rally is perhaps highlighted by the fact that the dominant’s market capitalization is now well above that of Bank of America. Data from the AssetDash analytics site indicates that Bitcoin’s market cap currently sits comfortably above $226 billion after gaining circa 3.48% over the past 24 hours. In contrast, Bank of America has plunged  2.15% to $224 billion. Bitcoin’s bullish rampage has thrust the crypto to the 25th position on AssetDash. The top crypto is right behind…

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Partnerségre lépett a Ripple és a Bank of America?

A Ripple és a Bank of America (BoA) kapcsolata régóta foglalkoztatja a kriptósok fantáziáját. Az elmúlt években több pletyka született arról, hogy az Egyesült Államok második legnagyobb bankintézménye elkezdte használni a Ripple fizetési protokollját a valós idejű elszámolásoknál. A pletykát azonban eddig sem a Ripple, sem a BoA nem erősítette meg. Egy kiszivárgott e-mail azonban új fényt vet a blokklánc cég és a bank kapcsolatára. Most akkor van partnerség vagy nincs? A blockchain fizetési vállalat és a Bank of America partnerségéről először még 2018-ban röppent fel hír miután a Ripple az egyik IMF-nek küldött jelentésében a bankot mint partner mutatta…

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Aranyárban az arany – és ez még csak a kezdet lenne?

2000 dollár felett van egy uncia arany ára, jó pár elemző pedig hamarosan piaci korrekcióra számít az ár gyors növekedése miatt. Más szakértők viszont pont az ellenkezőjét várják: szerintük a mostani ralli, ami felnyomta az arany árfolyamát, még korántsem fejeződött be. Korrekció vagy bikapiac? Még nem döntött az arany Az arany unciánkénti ára eddig 2020-ban kb. 500 amerikai dollárral emelkedett – külön kiemelendő ráadásul, hogy csak az elmúlt két hétben ez 200 dolláros emelkedést jelentett a nemesfém esetében. Az elemzők azonban meglehetősen különbözően látják az arany árának növekedését és főként ennek jövőbeni változását: néhányuk szerint a piac nagyon hamar korrigálni…

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