Bitcoin, the world's largest cryptocurrency, fell to a
five-month low on Tuesday, extending losses from China's
deepening crackdown on mining and trading cryptocurrencies. The
U.S. Securities and Exchange Commission has said it would like
to see more regulation around trading in the space.
Bitcoin was up 5% around $34,000 as of 1045 GMT on Wednesday.
Of those firms who did not invest, 80% did not expect to start
investing or trading in cyptocurrencies, according to the survey
conducted at JPMorgan's Macro, Quantitative and Derrivatives
conference, attended by some 3,000 investors from around 1,500
institutions.
However, asked about their personal investments, 40% of the
investors said they were active in cryptocurrencies.
Four-fifths of investors also expected regulators to get tougher
on the asset class, while a whopping 95% of them believed fraud
in crypto world was "somewhat or very much prevalent", the
survey released late on Tuesday found.
Billionaire investor Warren Buffett has in the past
characterised bitcoin as "rat poison squared". One third in the
JPM survey agreed with that view. Another 16% thought it was a
temporary fad.
In other findings, investors said they expected the U.S.
benchmark stocks index S&P 500 to trade between 4,200 to 4,600
points by the end of 2021 and see a dial back in central bank
stimulus and inflation as key market risks. S&P 500 closed at
4,246.44 on Tuesday.
(Reporting by Thyagaraju Adinarayan; Editing by Karin Strohecker
anad Alison Williams)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
![](column_spacer.png)
|
|