Cryptocurrencies appear to be taking the world by storm, but many alternative investment managers are unconvinced. A survey conducted by BarclayHedge finds that more than two-thirds of hedge fund managers have no intention of investing in cryptocurrencies.
The survey of 119 hedge fund managers and CTAs was conducted between 11 September and 29 September, 2017. Managers were asked if they currently invest in or plan to invest in cryptocurrencies. Sixty-eight percent answered “No,” while 24 per cent responded that they either currently invest or plan to invest within the next six months. A further 8 per cent replied, “We’re studying the situation.”
“This survey allows us to distinguish between public perceptions and professional opinions of cryptocurrencies,” says Sol Waksman (pictured), founder and president of BarclayHedge. “Although there is a great deal of media attention on this area, they are still far from achieving broad acceptance as a medium of exchange or a storehouse of value.”
While approximately one in four (26 per cent) managers believe that cryptocurrencies are an exciting investment opportunity, 74 per cent believe that cryptocurrencies are either a bubble or not as important as currently portrayed.
