Institutions More Bullish on Bitcoin than Retail Investors: Fundstrat

There’s a general perception that retail investors are susceptible to rosy-eyed forecasts about the future of bitcoin, while institutions are more clear-headed about the prospects of this nascent asset class. However, a new survey conducted by Wall Street strategy firm Fundstrat suggests that once institutional investors are interested in bitcoin, they become even more bullish than their retail counterparts.

Institutions Believe Bitcoin Price Has Bottomed

Fundstrat, the first Wall Street strategy firm to embrace bitcoin, conducted a six-question Twitter poll to gauge the sentiment among retail cryptocurrency investors and then asked the same questions at a private dinner held with institutional investors. The firm subsequently compiled the answers into a report published on Thursday.

While a plurality of both institutional and retail investors said that they believed the bitcoin price had bottomed, institutions were more confident by a 10 percent margin….