Cryptocurrencies
Fund Managers See Bitcoin Trade Crowded as Institutions Jump In
- BofA manager survey shows Bitcoin is third-most crowded trade
- The largest cryptocurrency has gained about 170% this year
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Bitcoin’s dizzying rally in 2020 has captivated the professional investing class.
About 15% of fund managers, with $534 billion under management, surveyed by Bank of America Corp. said Bitcoin is the third-most crowded trade behind being long technology shares and shorting the U.S. dollar. The poll was taken between Dec. 4 and Dec. 10.