Bitcoin Has No Role Yet for Institutional Investors: Bernstein
BitBull CEO DiPasquale Says Crypto Assets Are Here to Stay
This article is for subscribers only.
Taken on its own, Bitcoin’s eye-popping 1,400 percent rally last year would put most other investments to shame. But even such a monster gain might not be enough to put the cryptocurrency on the radar for institutional investors, according to Sanford C. Bernstein Ltd.
The sheer volatility, liquidity, and even environmental concern -- the electricity requirements for Bitcoin mining are enormous -- associated with the still-nascent cryptocurrency space means Bitcoin doesn’t yet have a real role to play for asset allocators, according to Inigo Fraser-Jenkins, the brokerage’s head of global quantitative and European equity strategy.