(Asian News Hub) – Traditional hedge funds are willing to increase their exposure in Bitcoin and other cryptocurrency markets over the next five years, a new survey has found.
Intertrust Global — an international trust and corporate management company — polled the chief financial officers of 100 hedge funds globally about their intention to purchase crypto-assets. About 98% of them responded that they expect their hedge funds to invest 7.2% of their assets in cryptocurrencies by 2026.
The survey found that a 7.2% investment into the cryptocurrency sector would equal about $312 billion if replicated across the sector. Meanwhile, about 17% of the polled CFOs admitted that their hedge fund could have 10% of their assets allocated to cryptocurrencies like Bitcoin (BTC).
The results appeared as Bitcoin corrected by more than 50% after rallying from $3,858 in March 2020 to almost $65,000 in April 2021, leading to speculations that it would crash further due to overvaluation.
Nevertheless, the flagship cryptocurrency held through technical supports around $30,000 and, earlier this week, rallied back above $40,000.
