JPMorgan survey shows 78% of institutional investors aren’t likely to invest in crypto
International investment bank JPMorgan released the results of a poll surveying 3,400 investors at 1,500 institutions during their Macro Quantitative Conference on Thursday, offering indications of what the investor community thinks about cryptocurrency
The survey results, obtained by The Block, suggest cryptocurrency’s reputation is shifting to greater legitimacy in the minds of investors, but the coin hasn’t lost its risky and crime-related perception. Surveyed investors still seem to think crypto is a risky investment area — a belief JPMorgan analysts have agreed with in the past.
Over three-quarters (78%) of investors admitted their firm most likely won’t invest in crypto, and that 97% thought crypto crime was somewhat or very much prevalent.
That said, 58% of participants believe crypto is “here to stay” and 7% believe cryptocurrency “will become one of the most important assets.”
Almost a tenth of surveyed investors’ firms said they have invested in crypto. Of the 89% who aren’t, 22% said they’re likely to do so in the future and the remaining 78% said they weren’t.
When asked their opinion, 21% said crypto was a “temporary fad,” 14% thought it was “probably rat poison squared” — a quote from famed investor Warren Buffet describing his pessimistic stance on the cryptocurrency. Seventy-seven percent want regulators to develop stricter cryptocurrency regulations.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: MK Manoylov
