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Shouldn’t this read 51% of institutional investors agree cryptocurrencies are ‘here to stay’ or ‘will become an important asset’

JPMorgan Survey: 49% of Institutional Investors Agree Cryptocurrency Is 'Rat Poison' as Warren Buffett Says or a Fad

Investment bank JPMorgan conducted a survey of thousands of investors from 1,500 institutions and found that 49% of them think that cryptocurrency is either “rat poison squared,” the term used by Berkshire Hathaway CEO Warren Buffett to describe bitcoin, or “a temporary fad.”

49% of Investors Told JPMorgan Cryptocurrency Is a Fad or ‘Rat Poison Squared’

JPMorgan released the results of a survey it conducted at the firm’s 24th Macro, Quantitative & Derivatives Conference Tuesday. The event took place on June 11; it was attended by some 3,000 investors from around 1,500 institutions. Marko Kolanovic and Dubravko Lakos-Bujas, two of JPMorgan’s top strategists, wrote:

Investors’ view on cryptocurrency’s future is very divided.

The survey results show that 42% of investors feel that cryptocurrency is here to stay and 9% even believe that it will become an important asset.

However, 49% of investors agree with Berkshire Hathaway CEO Warren Buffett and said that cryptocurrency is “rat poison squared.” Moreover, 16% of respondents see cryptocurrency as a temporary fad.

JPMorgan’s survey results. Source: CNBC anchor Carl Quintanilla

In terms of regulation, 81% of investors surveyed expect tighter regulations of cryptocurrency and 95% believe fraud is “somewhat or very much prevalent” in the crypto world.

JPMorgan further found that only 10% of investors trade cryptocurrencies. Of those that do not, only 20% plan to start trading them. However, when asked about their personal investments, 40% of the investors said they were active in cryptocurrencies.

Buffett has long been a critic of bitcoin. In May 2018, the Oracle of Omaha said BTC was “probably rat poison squared.” In February 2019, he said th...

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