Earlier this week, a Bank of America survey found that American hedge fund managers favor Bitcoin (BTC) over tech, but Goldman Sachs’ poll with the Asian chief investment officers tells a different story.
Goldman Sach Global Investment Research published a new survey polling 25 chief investment officers from different hedge funds. The results show that Bitcoin is the least favorite investment class for 35% of the participants.
“We held two CIO roundtable sessions earlier this week, which were attended by 25 CIOs from various long-only and hedge funds,” wrote Goldman Sachs strategist Timothy Moe, “Their most favorite is growth style but least favorite on Bitcoin.”
Goldman Sachs Global Investment Research survey. Source: Bloomberg.
New initial public offerings or IPOs follow Bitcoin as the least favorite investment style with 25%.
On the other hand, more than half (55%) favor growth investing, which is to invest in companies that offer strong earnings growth. This is followed by value-style investing (30%), in other words, seeking out undervalued