A new survey of global fund managers reveals that Bitcoin has climbed in the rankings of “most crowded trade” beating out traditional investments like gold and bonds.
Bitcoin was third on the overall list of options for the category, named as the busiest trade by 15% of survey respondents. Only tech stocks (52%) and short dollar positions (18%) ranked higher.
Many investment managers are seriously considering Bitcoin purchases for the first time, encouraged by the example of famous investments made by MicroStrategy, Square and Paul Tudor Jones. Following suit, insurance company MassMutual and investment manager Ruffer disclosed massive Bitcoin purchases in the last week as well.