Bitcoin was reported as the most crowded trade on the market for the first time in four years, replacing tech stocks as the trade which fund managers see as the most popular, according to the latest Global Fund Manager Survey from Bank of America.
The survey showed that 36% of respondents said long bitcoin was the most crowded trade, knocking technology off its perch for the first time since 2019. A short position on the dollar was seen as the third most crowded. Bitcoin's value is on another rollercoaster ride, soaring to a new record high of $40,000 for the first time earlier this month and is currently hovering around the $36,000 mark. Wealth managers split on bitcoin amid growing adoption and wild price swings Institutional investors are showing a growing interest in bitcoin, with proponents of the cryptocurrency saying ...
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