The Bank of America survey revealed interest in Bitcoin.
The survey conducted this month by Bank of America and BofA Securities showed very positive results for Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and all altcoin investors in general. In a survey conducted by BoA, one of the most important banks in the USA, it was revealed that people opened short positions for the US dollar and invested in Bitcoin (BTC).
Bitcoin Ranks Third
According to the survey conducted with the managers of hedge funds, it is seen that the most popular investment is to open a long position for technology shares for December 2020. Opening a long position is known as taking a step towards the rise of an asset, while opening a short position is known as taking a step towards its fall.
Investing in the shares of technology companies comes first, while shorting the US dollar is the second. It is not surprising that the second most popular investment move of December was against the US dollar. Trillions of dollars in stimulus package payments and uncertainty in the US actually underlie this.
BTC Difference From Others, Growth Rate
Opening long positions for Bitcoin is in third place. However, although Bitcoin is in the third place, it is seen that it is the fastest and most growing investment tool compared to November 2020. While opening a long position for Bitcoin in November 2020 was at the level of 5%, in December 2020 this rate rose to over 15% and grew approximately 3 times.
Under the Bitcoin investment, there is a long position for corporate bonds, while under it there is a similar move for gold investment. However, it is seen that the rate of opening long positions for gold decreased compared to November 2020.
How Altcoins Like XRP and ETH Affected From This
Is this only positive for Bitcoin? In fact, the survey results show that BTC is the only asset that has moved to the positive side so quickly in a month. Even though investment in technology stocks ranks first, it seems to have declined compared to November 2020. As can be expected, Bitcoin's popularity means a new rise for Ethereum, XRP and other altcoins. If Bitcoin can continue this growth in 2021, not only BTC, but also altcoins could break the record on the record.
