JPMorgan survey shows many institutional investors aren't likely to invest in crypto
March 4, 2021, 1:11PM EST
1 min read
International investment bank JPMorgan released the results of a poll surveying 3,400 investors at 1,500 institutions during their Macro Quantitative Conference on Thursday, offering indications of what the investor community thinks about cryptocurrency
The survey results, obtained by The Block, suggest cryptocurrency's reputation is shifting to greater legitimacy in the minds of investors, but the coin hasn’t lost its risky and crime-related perception. Surveyed investors still seem to think crypto is a risky investment area — a belief JPMorgan analysts have agreed with in the past.
Almost a tenth of surveyed investors’ firms said they have invested in crypto. Of the 89% who aren't, 22% said they're likely to do so in the future and the remaining 78% said they weren’t.
That said, 58% of participants believe crypto is “here to stay” and 7% believe cryptocurrency “will become one of the most important assets.”
When asked their opinion, 21% said crypto was a “temporary fad,” 14% thought it was “probably rat poison squared” — a quote from famed investor Warren Buffet describing his pessimistic stance on the cryptocurrency. Seventy-seven percent want regulators to develop stricter cryptocurrency regulations.
Correction: This report has been corrected to update a mathematical error on the number of participants who said they weren't likely to invest in crypto.
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