Bitcoin – bitcoin: Bullish bets on bitcoin most crowded commerce: (BofA) Securities
Mumbai: Bullish bets on bitcoin has emerged as probably the most crowded commerce for the primary time since October 2019, in keeping with a survey of fund managers by Bank of America Securities.
About 36 per cent of the respondents recognized ‘long bitcoin’ as probably the most crowded commerce. A complete of 217 fund managers with $596 billion worth of property beneath administration participated within the survey.
These two prime crowded trades have been adopted by ‘short US dollar’ and ‘long corporate bonds’.
The survey confirmed that rollout of Covid-19 vaccine is seen as the largest tail danger by 30 per cent of the fund managers, whereas 29 per cent believed the US Federal Reserve tapering its asset purchases is the largest tail danger.
