Cryptocurrencies
Crypto Is ‘Top Contender’ for Correction, Money Managers Say
- About 40% of responders say crypto is a legitimate investment
- Third of polled also say they increased allocations to crypto
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By many counts, 2021 was the year cryptocurrencies were finally embraced by institutions. Now those same money-managers say the asset class is ripe for a big selloff next year.
Digital assets are the “top contender” for a “major correction” in 2022, with nearly three-quarters of institutions polled saying they’re not an appropriate investment for most retail investors, according to a survey done for Natixis Investment Managers.