Majority of Investors Consider Crypto as Bubble, Survey Shows

A majority of investors believe that cryptocurrency, as an asset class, is a bubble, shows a 2019 Cayman Alternative Investment Summit (CAIS) survey.
As detailed in a Cointelegraph report, the researchers interviewed around 100 alternative investors and fund managers to create the survey report at the sixth annual conference of CAIS from February 6th to February 9th.

According to the survey results, 45 percent of the participated investors think that digital currencies, as an asset class, closely resembles a financial bubble. In addition, 20 percent of the participants think that US equities are also a bubble, while another 19 percent and 16 percent of the respondents have the same belief regarding the leveraged loan market and private credit respectively.
Moreover, in terms of new-age technology, the survey respondents are more bullish on the automation than blockchain as 45 percent participants are betting on automation and artificial intelligence (AI) while only 38 percent believe that distributed ledger technology is the next big thing.
Seasoned Investors Divided on Digital Assets
When it comes to institutional and seasoned investors, we have seen a stark difference in the crypto market projection. While Warren Buffet and Jamie Dimon are, investors like, a former Goldman Sachs partner and founder of crypto merchant bank Galaxy Digital, are bullish in the new-generation asst class.
In an interview with Bloomberg, Novogratz predicted the medium term price of Bitcoin to be settled around $8000 and said that “we’re not going to bubble back up.”
Buffet, on the other hand, while talking to CNBC, said: “You can stare at it all day, and no little Bitcoins come out or anything like that. It’s a delusion, basically.”
An earlier survey conducted at Davos Summit shows the as 26 percent of the respondents believed that major listed companies will have to start proactively reporting on their plans and ambitions around blockchain.