One of the most crowded hedge fund trades during 2020-2021 was BitcoinIt was easy to be excited about the involvement of legendary macro investors like Paul Tudor JonesThe underlying strategies of these macro funds cannot compensate for the volatility of Bitcoin. They are judged on short-term horizons and have too much emphasis on volatility and Fed actionsIn my opinion, we were wrong to be excited about a group that was bound to trade in and out short-term without much long-term conviction in the technology
Link: https://markets.businessinsider.com/currencies/news/bitcoin-is-the-most-crowded-trade-according-to-bofa-survey-2021-1-1029987355
Disclaimers: http://bit.ly/p21disclaimers
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