Bloomberg strategist says Non-crypto money managers being left behind

Bloomberg strategist says Non-crypto money managers being left behind 2

The report suggests that institutional managers are getting into crypto interest because of the growth of the crypto asset class with a $2.7 trillion asset class with flagship assets and the Defi industry. 

Recently, Mike McGlone, Bloomberg’s senior commodity strategist, shared his research and analysis on the interest of the money manager firms in crypto. McGlone also explained why these managers are shifting into crypto, however, they don’t need the same.

According to McGlone, all money managers have a fear that they will lose their job because of the availability of digital assets based money managers. So in this peer pressure to save money management jobs, these managing institutions are moving toward the crypto industry to adopt Bitcoin, Ethereum. 

McGlone also asserts that 2021 is also a foundation year for the crypto industry because under such a situation it will move toward a long term value proposition for crypto assets. Further, McGlone added 

“Our graphic depicts the 200%-plus outperformance of the Bloomberg Galaxy Crypto and DeFi indexes in 2021 vs. the S&P 50″

However, crypto assets have a highly volatile nature but still, it is attracting traditional users to invest in the non-crypto industry, because of better returns without thinking about the chances of risk factors behind the crypto’ negative phase of bear season. 

Further, Bloomberg’ strategist said that “money managers” will now move toward the crypto inclined clients instead of non-crypto investors because in the present time 60-40 (equity- bond) concept is not enough for current investors. Investors want something better. 

The reason behind the Interest in crypto 

Experts and analysts say that people are moving toward crypto because of the high return probability like things are responsible for the huge push in crypto. 

But on the contrary, In the latest, many experts shared their stance on the growing crypto industry and claimed that all things are just part of inflation. 

For instance, PayPal Co-founder said that the “high price of Bitcoin is an indication that the current economy is in crisis because of inflation”. 

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