Per Coin Telegraph
Most institutional traders say they don't have plans to invest or trade crypto this 2023, per a JPMorgan study. 72% of institutional traders cite volatility and liquidity concerns, among other reasons.
JPMorgan launched an e-trading survey to find out the plans of institutional traders this 2022, this included whether or not they plan to invest in crypto or digital coins. The survey involved 835 traders coming from 60 locations worldwide.
The survey was part of JPMorgan's e-Trading Edit 7th edition. Its goal was to determine how technical developments and other factors on a macroeconomic level would influence this year's trading performance.
14% of the participants shared that although they didn't have plans to invest this year, they could still change their decision in 2024. The survey also showed that 92% of participants said they didn't actually have any exposure to digital assets.
The survey was conducted from Jan 3 to 23 and found that only 8% of the participants were already trading crypto/digital coins. Only 6% entertained the idea of trading crypto/digital coins within the year.
In 2022, another survey that Coinbase sponsored found that digital assets were among the assets of 62% of institutional investors. In June, 71% of individuals with a high net worth already invested in crypto.
JPMorgan also had another poll which found that 26% of participants believed that inflation would have a huge influence on the outcome of trading this 2023.
Charlie Munger of Berkshire Hathaway has publicly criticized cryptocurrency and recently shared stronger statements regarding digital assets. Munger said that it was ridiculous how certain people would buy crypto.
He had previously called for a ban on crypto and said that although AI was important, "there is a lot of crazy hype on the subject."
Recently, the SEC charged Do Kwon, the CEO of Terraform, with perpetuating a "multi-billion" dollar fraud against investors with the TerraUSD and luna coins, which dropped in May 2022.
See flow at unusualwhales.com/flow.
Other News:
- Charlie Munger said: "Crypto is just ridiculous that anybody would buy this stuff... it's massively stupid."
- The SEC has charged Terraform, $LUNA / $UST, and CEO Do Kwon with defrauding investors
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