{"id":8676,"date":"2021-06-24T00:56:04","date_gmt":"2021-06-24T00:56:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-survey-49-of-institutional-investors-agree-cryptocurrency-is-rat-poison-as-warren-buffett-says-or-a-fad\/"},"modified":"2021-06-24T00:56:04","modified_gmt":"2021-06-24T00:56:04","slug":"jpmorgan-survey-49-of-institutional-investors-agree-cryptocurrency-is-rat-poison-as-warren-buffett-says-or-a-fad","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-survey-49-of-institutional-investors-agree-cryptocurrency-is-rat-poison-as-warren-buffett-says-or-a-fad\/","title":{"rendered":"JPMorgan Survey: 49% of Institutional Investors Agree Cryptocurrency Is \u2018Rat Poison\u2019 as Warren Buffett Says or a Fad"},"content":{"rendered":"

Investment bank JPMorgan conducted a survey of thousands of investors from 1,500 institutions and found that 49% of them think that cryptocurrency is either \u201crat poison squared,\u201d the term used by Berkshire Hathaway CEO Warren Buffett to describe bitcoin, or \u201ca temporary fad.\u201d<\/strong><\/p>\n

49% of Investors Told JPMorgan Cryptocurrency Is a Fad or \u2018Rat Poison Squared\u2019<\/h2>\n

JPMorgan released the results of a survey it conducted at the firm\u2019s 24th Macro, Quantitative & Derivatives Conference Tuesday. The event took place on June 11; it was attended by some 3,000 investors from around 1,500 institutions. Marko Kolanovic and Dubravko Lakos-Bujas, two of JPMorgan\u2019s top strategists, wrote:<\/p>\n

Investors\u2019 view on cryptocurrency\u2019s future is very divided.<\/p>\n

The survey results show that 42% of investors feel that cryptocurrency is here to stay and 9% even believe that it will become an important asset.<\/p>\n

However, 49% of investors agree with Berkshire Hathaway CEO Warren Buffett and said that cryptocurrency is \u201crat poison squared.\u201d Moreover, 16% of respondents see cryptocurrency as a temporary fad.<\/p>\n

JPMorgan\u2019s survey results. Source: CNBC anchor Carl Quintanilla<\/p>\n

In terms of regulation, 81% of investors surveyed expect tighter regulations of cryptocurrency and 95% believe fraud is \u201csomewhat or very much prevalent\u201d in the crypto world.<\/p>\n

JPMorgan further found that only 10% of investors trade cryptocurrencies. Of those that do not, only 20% plan to start trading them. However, when asked about their personal investments, 40% of the investors said they were active in cryptocurrencies.<\/p>\n

<\/p>\n

Buffett has long been a critic of bitcoin. In May 2018, the Oracle of Omaha said BTC<\/a> was \u201cprobably rat poison squared.\u201d In February 2019, he said that \u201cbitcoin has no unique value at all. It doesn\u2019t produce anything \u2026 It\u2019s delusion basically.\u201d<\/p>\n

Charlie Munger, Buffett\u2019s long-time business partner, also likened bitcoin rat poison. In May 2018, he said: \u201cTo me, it\u2019s just dementia. It\u2019s like somebody else is trading turds, and you decide you can\u2019t be left out.\u201d Munger has not warmed up to bitcoin despite the cryptocurrency\u2019s rising popularity among investors and traders. In May this year, he said<\/a>: \u201cI hate the bitcoin success. I don\u2019t welcome a currency that\u2019s so useful to kidnappers and extortionists and so forth \u2026 I should say modestly that the whole damn development is disgusting and contrary to the interest of civilization.\u201d<\/p>\n

What do you think about all these investors thinking bitcoin is either rat poison squared, like Buffett said, or just a temporary fad? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, Berkshire Hathaway, Charlie Munger, fund managers, institutional investors, investment firms, jpmorgan, jpmorgan survey, rat poison, Rat poison squared, Warren Buffett<\/p>\n","protected":false},"excerpt":{"rendered":"

Investment bank JPMorgan conducted a survey of thousands of investors from 1,500 institutions and found that 49% of them think that cryptocurrency is either \u201crat poison squared,\u201d the term used by Berkshire Hathaway CEO Warren Buffett to describe bitcoin, or \u201ca temporary fad.\u201d 49% of Investors Told JPMorgan Cryptocurrency Is a Fad or \u2018Rat Poison…<\/p>\n","protected":false},"author":0,"featured_media":8677,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8676","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\/8676"}],"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=8676"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8677"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}