Survey respondents also displayed a very broad church of opinions on crypto, emblematic of how despite the sector’s relative infamy among traders, it’s still a divisive topic. When asked to choose one word that describes the space, the two most popular answers were almost evenly split between “Ponzi” and “future.”
“It’s almost like a religion — if you believe, you will always believe no matter the price or the headwinds,” said Victoria Greene of G Squared Private Wealth.
“The dichotomy between boom and bust perfectly describes crypto and the vast range of potential outcomes. There are so many unknowns, including regulation and platforms as well as what the hell it actually is and what it will be used for,” she said. “So, if you are a true believer, you say it’s the future.” People with more of a traditional view may say it’s a Ponzi, she said.
This article was provided by Bloomberg News.