{"id":8364,"date":"2021-06-17T02:54:05","date_gmt":"2021-06-17T02:54:05","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/bank-of-america-survey-most-fund-managers-say-bitcoin-is-a-bubble-inflation-is-transitory\/"},"modified":"2021-06-17T02:54:05","modified_gmt":"2021-06-17T02:54:05","slug":"bank-of-america-survey-most-fund-managers-say-bitcoin-is-a-bubble-inflation-is-transitory","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/bank-of-america-survey-most-fund-managers-say-bitcoin-is-a-bubble-inflation-is-transitory\/","title":{"rendered":"Bank of America Survey: Most Fund Managers Say Bitcoin Is a Bubble, Inflation Is Transitory"},"content":{"rendered":"

The latest Bank of America\u2019s Global Fund Manager Survey shows that \u201clong bitcoin\u201d is now the second most crowded trade. Moreover, most fund managers believe bitcoin is in a bubble and agree with the Fed that inflation is transitory.<\/strong><\/p>\n

Bank of America\u2019s June Fund Manager Survey<\/h2>\n

Bank of America (BofA) released its June Global Fund Manager Survey this week. The survey, conducted between June 4-10, covers 224 fund managers with $667 billion under management.<\/p>\n

The fund managers were asked about many issues of concern to investors, ranging from where the economy and markets are heading to how much cash portfolio managers are holding and which trades they see as most overdone.<\/p>\n

\u201cLong commodities\u201d is now the most crowded trade, overtaking \u201clong bitcoin<\/a>\u201d which is now the second most crowded trade. The third most crowded trade is \u201clong tech stock,\u201d followed by \u201clong ESG,\u201d \u201cshort U.S. Treasuries,\u201d and \u201clong euro.\u201d<\/p>\n<\/p>\n

<\/p>\n

Despite the BTC<\/a> price pullback, 81% of the fund managers surveyed still think that bitcoin is in a bubble. This is a slight increase from May when 75% of the fund managers<\/a> surveyed said bitcoin was in a bubble zone. Bank of America itself has also warned about the cryptocurrency being in a bubble. The bank\u2019s chief investment strategist said<\/a> in January bitcoin was \u201cthe mother of all bubbles.\u201d<\/p>\n

Meanwhile, 72% of fund managers say that inflation is transitory, agreeing with what the Fed has been saying. However, 23% think inflation is permanent. Federal Reserve Chairman Jerome Powell has used the word \u201ctransitory\u201d to describe the threat of inflation to the U.S. economy several times. Nonetheless, a number of people have indicated that they disagree with him, including famed hedge fund manager Paul Tudor Jones<\/a> and JPMorgan CEO Jamie Dimon<\/a>.<\/p>\n

What do you think about this Bank of America Fund Manager survey? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nEconomics, Bank of America, bank of america inflation, Bank of America Survey, bitcoin bubble, Fed, fund manager, inflation, inflation transitory, Long Bitcoin, most crowded trade, transitory<\/p>\n","protected":false},"excerpt":{"rendered":"

The latest Bank of America\u2019s Global Fund Manager Survey shows that \u201clong bitcoin\u201d is now the second most crowded trade. Moreover, most fund managers believe bitcoin is in a bubble and agree with the Fed that inflation is transitory. Bank of America\u2019s June Fund Manager Survey Bank of America (BofA) released its June Global Fund…<\/p>\n","protected":false},"author":0,"featured_media":8365,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8364"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8364"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8365"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}