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JPMorgan official says Institutions Are Not Interested in digital assets

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JPMorgan official says Institutions Are Not Interested in digital assets 13

Jared Gross noted that institutional investors’ interest in the crypto sector has either disappeared or has never been on the scene at all.

2020 & 2021 was a turning point for the Crypto & Blockchain sector, in terms of investment flow. The entry of Elon Musk into the Crypto sector & pump in the price of Bitcoin from $10k to $69k dragged many big institutional investors into the market like MassMutual, One River, and others. But late 2021 started with the downfall of this market and that resulted in a big downfall for almost every crypto asset including Bitcoin. So far to this date, Bitcoin is 76% down over its all-time high. 

Recently, JPMorgan senior investment strategist Jared Gross appeared in a Podcast with Bloomberg and there he talked about the crypto bull run which started in 2020 and ended in 2021. 

He said that the majority of the reports noted that many of the institutional & big investors were jumping into the Crypto sector to enjoy the digital assets investment vehicle. 

In the present situation, Jared believes that either no one big investment companies were interested in cryptocurrencies or they disappeared with time, as the crypto market fluctuating in the winter phase. 

Jared claimed that high volatility in the price of Crypto assets is responsible for the downfall of institutional investors’ interest in the crypto market & probably they will be happy to miss the investment in 2022.

“The volatility is too high, and the lack of an intrinsic return that you can point to makes it very challenging. Most institutional investors probably are breathing a sigh of relief that they didn’t jump into that market,” a JPMorgan official said.

Senior JPMorgan investment strategist also said that such experience will force institutional investors to not show interest in crypto investment, at least in near future.

Read also: Doge-fan Elon Musk wishes Christmas Eve

JPMorgan official says Institutions Are Not Interested in digital assets

 

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https://bitcoinik.com/jpmorgan-official-says-institutions-are-not-interested-in-digital-assets/feed/

 

 

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