"Some 78% of institutional traders don’t plan to gain exposure to cryptocurrencies in the next five years, according to JPMorgan Chase’s e-Trading annual survey, while just 12% plan to trade them."
Translation: 78% of financial professionals haven't done the work to understand the best performing asset class of the last 15 years.
They'll have to catch up.
Plot twist: they’re right. 78% of institutional traders will be out of work in 5 years thanks to #Bitcoin making their jobs unnecessarily.
Not surpringly, JPM fails to mention that most professional traders stay in an asset class. They dont experiment as thats not how trading firms work. Its easier to hire new for new asset class than teach an old dog thats still making money new tricks. JPM knows this.
