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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Goldman Sachs Survey: Chief Investment Officers Say Bitcoin Is Their Least Favorite Investment

Goldman Sachs Survey: Chief Investment Officers See Bitcoin as Least Favorite Investment

Investment bank Goldman Sachs recently held two roundtable sessions for chief investment officers of hedge funds. The bank found that they see bitcoin as their least favorite investment. In contrast, the latest Bank of America Fund Manager Survey found that “long bitcoin” was the most crowded trade.

CIOs Reveal Their Most and Least Favorite Investments

Goldman Sachs published a note Saturday after conducting a survey to find out what investments chief investment officers (CIOs) favor in the current market. Goldman Sachs strategist Timothy Moe wrote:

We held two CIO roundtable sessions earlier this week, which were attended by 25 CIOs from various long-only and hedge funds. Their most favorite is growth style but least favorite on bitcoin.

Besides growth style, the CIOs favored value style and then commodities. Their least favorite investment was bitcoin, followed by new IPOs, and rate-sensitive investments.

Goldman Sachs Survey: Chief Investment Officers Say Bitcoin Is Their Least Favorite Investment
The most and least favorite investments for chief investment officers. Source: Goldman Sachs, Bloomberg

Unlike Goldman Sachs, Bank of America (BofA) found that bitcoin was a popular trade among asset managers it surveyed. The bank’s Fund Manager Survey for May, in which 216 fund managers with $625 billion in total assets under management (AUM) participated, showed that “long bitcoin” was the most crowded trade in the world. In the previous month, long bitcoin was the second-most crowded trade.

Unlike the surveyed CIOs, Goldman Sachs’ analysts are quite bullish on the outlook of bitcoin. They recently said that fear of missing out (FOMO) is driving institutional investors to the cryptocurrency. Moreover, the bank recently declared bitcoin an investable asset and a new asset class.

Goldman Sachs has also established a cryptocurrency trading desk with the aim to offer a full spectrum of crypto investments. The firm said that institutional demand for BTC continues to grow significantly.

What do you think about CIOs saying that bitcoin is their least favorite investment? Let us know in the comments section below.

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