47% of Institutional Investors ‘Don’t Know’ What to Think About Cryptocurrency

A recent conference in Miami offered an inside look at what institutional investors think about cryptocurrency.

The alternative investment firm Context Capital asked 400 investors who manage other people’s wealth what they know about virtual currencies and whether they plan to invest.

Nearly half – 47% – said they don’t know enough to say whether cryptocurrencies are a legitimate investment or a fraud. Twenty seven percent said cryptocurrency is legit and the remaining 26% called the cryptocurrency market a total fraud.

Will Institutional Investors Dive Into Crypto?

The survey took things a step further and asked how many attendees plan to invest in cryptocurrency funds this year. The vast majority, 71%, reported they have no plans to invest in 2018 while 11% said they are planning to buy in the coming months, and 18% said they are still undecided.

The survey was conducted at Context Summits Miami 2018 between January 31 and February 2. The annual event convened more than 2,000 managers and institutional allocators representing over $5 trillion in combined assets under management.