Nearly 40% expect to invest a portion of it in stocks or Bitcoin. The respondents also showed a preference for Bitcoin over stocks. Saying that Bitcoin could swallow as much as 60% of those investments, Dolan noting, "We calculate it could add as much as 2-3% to Bitcoin's current $1.1 trillion market value.”
Aussies prefer Bitcoin to gold
A survey of over 2,000 Australian investors showed that more have invested in crypto assets than have in any precious metal
Among the investors surveyed, 12.6% have invested in a crypto asset, while only 12.1% of them held an investment in any precious metal. About one third of those cryptocurrency buyers invested in digital assets for the first time following the March 2020 market crash that came with the beginning of the coronavirus pandemic, the report said. And, half of the new crypto buyers plan to become hodlers, with no intention of selling anytime soon.
As Bitcoin breaks into trillion-dollar club, JPMorgan calls it an ‘economic sideshow’
The bank’s analysts believe that Bitcoin is becoming a more cyclical asset, turning the cryptocurrency into the ‘poorest hedge’ against a stock market downturn
Despite that, JPMorgan’s “Digital transformation and the rise of fintech: Blockchain, Bitcoin and digital finance 2021” concluded that “Bitcoin is here to stay as an 'alternative' currency.” According to the Feb. 18 report, current Bitcoin prices greatly exceed JPMorgan’s estimates of its fair value, based on mining costs and its risks compared with gold.
‘We’ve started to dabble in’ Bitcoin: BlackRock’s Rick Rieder
The chief investment officer at the world’s largest asset manager said Bitcoin is appreciating in reaction to investors looking to protect themselves from inflation
Speaking of Bitcoin in an interview Feb. 17, he said that "the volatility of it is extraordinary, but listen, people are looking for storehouses of value... My sense is the technology has evolved and the regulation has evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up.”