75% of fund managers hold zero crypto; avg fund manager crypto allocation = 0.3%
inevitably all fund managers will want $link exposure, still have opportunity to front-run them
BoA's Hartnett says to sell the $USD and buy "gold, crypto and EM...in second half of 2020s":
88 central bank rate cuts YTD, fastest cut cycle since ‘20 (Chart 3); stocks/credit anticipate Fed joining party; but new debates on Fed independence, higher Fed inflation target, sectoral price controls, gold revaluation, YCC mean “disruption = debasement”, policy disruption to drive US$ bear (DXY below 90 – Chart 5), in turn driving higher allocations to gold, crypto, EM higher in second half of 2020s.
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