Global Fund Managers 2021 Survey: Long Tech, Long Bitcoin, Short Dollar

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Last Updated on 23 March 2021 by CryptoTips.eu

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Asked as to what their preferred trades for 2021 are, global fund managers responded with their top three: go long on tech, go long on Bitcoin and short the US dollar.

In investor terms, it is noted that going long on Bitcoin is now in the top three of most crowded trades expected for 2021, and has doubled its attention span since last month. Also nice to see, although we feel Peter Schiff will disagree, is that it has overtaken that attention from gold.

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Bank of America

It was the major business conglomerate Bank of America that conducted the global fund manager survey in which it asked respondents various questions about their preferred trades for 2021.

Some 217 fund managers, responsible for trading and holding $534 billion in assets for their clients, responded to various questions posed by Bank of America Merrill Lynch this month. One of the more interesting titbits of information to be had was the top three of “most crowded trades”.

Just as over the summer, when Tesla and Bitcoin were the most popular trades in the US, this time round Bitcoin also made it to the top stage, joined by tech and the US dollar. Traders believe that Tech, although there was some bad news for Facebook, will once again lead investments next year as people will continue to shop on Amazon, read their smartphones (Apple) whenever they have a moment to spare, look up on Google whatever they don’t comprehend and watch Netflix from their beds.

Furthermore, in order to buy their way out of the global slump the Covid-19 pandemic has put the western world economy in, traders believe the US government will turn on the money printers and deflate the US dollar.

And interestingly, some 15% of fund managers admitted they were interested in buying Bitcoin next year. It sure looks like a bullish sign to us.

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