Survey results not unexpected

2021-06-23

Survey results not unexpected as this is done in an investors' conference. Cryptocurrencies are not backed by any fundamentals & has no real physical alternative use (like Gold); the only thing driving the price is supply & demand

A third of big investors believe bitcoin is 'rat poison,' JPMorgan survey shows

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darrelt
2021-06-23
darrelt
Ok

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Cryptocurrencies are not backed by any fundamentals &amp; has no real physical alternative use (like Gold); the only thing driving the price is supply &amp; demand</p></body></html>","htmlText":"<html><head></head><body><p>Survey results not unexpected as this is done in an investors' conference. Cryptocurrencies are not backed by any fundamentals &amp; has no real physical alternative use (like Gold); the only thing driving the price is supply &amp; demand</p></body></html>","text":"Survey results not unexpected as this is done in an investors' conference. Cryptocurrencies are not backed by any fundamentals & has no real physical alternative use (like Gold); the only thing driving the price is supply & demand","highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/123344105","repostId":1190243989,"repostType":4,"repost":{"id":"1190243989","kind":"news","pubTimestamp":1624409063,"share":"https://www.laohu8.com/m/news/1190243989?lang=&edition=full","pubTime":"2021-06-23 08:44","market":"us","language":"en","title":"A third of big investors believe bitcoin is 'rat poison,' JPMorgan survey shows","url":"https://stock-news.laohu8.com/highlight/detail?id=1190243989","media":"CNBC","summary":"One in 3 investors consider cryptocurrency “rat poison,” according to the results of a JPMorgan surv","content":"<div>\n<p>One in 3 investors consider cryptocurrency “rat poison,” according to the results of a JPMorgan survey published on Tuesday.\nThe bank said that one in three investors who responded to a survey deemed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/a-third-of-investors-think-bitcoin-is-rat-poison-jpmorgan-survey-says.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nA third of big investors believe bitcoin is 'rat poison,' JPMorgan survey shows\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 08:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/22/a-third-of-investors-think-bitcoin-is-rat-poison-jpmorgan-survey-says.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>One in 3 investors consider cryptocurrency “rat poison,” according to the results of a JPMorgan survey published on Tuesday.\nThe bank said that one in three investors who responded to a survey deemed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/22/a-third-of-investors-think-bitcoin-is-rat-poison-jpmorgan-survey-says.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/22/a-third-of-investors-think-bitcoin-is-rat-poison-jpmorgan-survey-says.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1190243989","content_text":"One in 3 investors consider cryptocurrency “rat poison,” according to the results of a JPMorgan survey published on Tuesday.\nThe bank said that one in three investors who responded to a survey deemed crypto “rat poison,” while an additional 16% called it a “temporary fad.” JPMorgan conducted the survey at its 24th Macro, Quantitative & Derivatives Conference on June 11.\n“Investors’ view on cryptocurrency’s future is very divided, wrote Marko Kolanovic and Dubravko Lakos-Bujas, two of JPMorgan’s top strategists.\n“Four in five (81%) investors expect tighter regulations of crypto with almost all (95%) believing fraud is somewhat or very much prevalent in [the] crypto world,” they added.\nRat poison is a reference to Warren Buffett’s criticism ofbitcoin, which the Berkshire Hathaway CEO and famed investor decried in 2016.\nAt the time, Buffett railed against bitcoin as “probably rat poison squared” and predicted that cryptocurrencies would “come to a bad ending.” His longtime partner and fellow Berkshire executive, Charlie Munger, added at the time that trading in cryptocurrencies is “just dementia.”\nWhile it wasn’t clear how many of the conference’s 3,200 attendees responded to the JPMorgan survey, the group was composed of investors from about 1,500 firms including BlackRock, D.E. Shaw, PIMCO and Santander.\nThe JPMorgan survey also showed that only 10% of respondents’ firms trade or invest in cryptocurrency, while 89% do not. And of those that don’t, the majority said they aren’t likely to start anytime soon.\nThe survey results from JPMorgan come ata turbulent time for popular digital currency bitcoin. It continued its volatile streak on Tuesday, starting the day with a tumble below the key $30,000 level before rallying back into positive territory.\nAt one point, bitcoin’s price turned negative on the year before recovering. It was last seen trading at $32,600, according to Coin Metrics.\nThe slide in bitcoin’s value began in earnest in May, when Tesla CEO Elon Musk temporarily reversed his decision to accept it as tender for the company’s electric cars. It fell further in the aftermath of the Colonial Pipeline ransomware attack, and tends to decline on headlines about China’s efforts to restrict energy-intensive mining.\nEven after recovering from Tuesday’s early losses, bitcoin is still worth less than half of its all-time high of more than $64,000, where it traded mid-April.\nStill, some remain optimistic.\nFundstrat co-founder and longtime bitcoin bull Tom Lee, for example, noted Tuesday that the asset tends to generatemost of its annual gains over a handful of sessions.\n“We have to keep in mind that bitcoin makes most of its gains in 10 days in a single year, so the idea that it’s below $30,000 now doesn’t rule the ability for this to generate some really big gains before year-end and potentially touch $100,000 or higher,” the strategist said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":603,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":193,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":4965791,"commentId":"4965791","gmtCreate":1624410750475,"gmtModify":1663229770052,"authorId":3578311581639916,"author":{"id":3578311581639916,"idStr":"3578311581639916","authorId":3578311581639916,"name":"darrelt","avatar":"https://static.tigerbbs.com/3a1196aa687f109955c94a00df8a25ac","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":123344105,"objectIdStr":"123344105","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/123344105"}