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A third of big investors believe bitcoin is 'rat poison,' JPMorgan survey shows

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In this photo illustration, a visual representation of digital cryptocurrency Bitcoin (BTC) is arranged on a circuit board of a hard drive.
Yuriko Nakao | Getty Images

One in 3 investors consider cryptocurrency "rat poison," according to the results of a JPMorgan survey published on Tuesday.

The bank said that one in three investors who responded to a survey deemed crypto "rat poison," while an additional 16% called it a "temporary fad." JPMorgan conducted the survey at its 24th Macro, Quantitative & Derivatives Conference on June 11.

"Investors' view on cryptocurrency's future is very divided, wrote Marko Kolanovic and Dubravko Lakos-Bujas, two of JPMorgan's top strategists.

"Four in five (81%) investors expect tighter regulations of crypto with almost all (95%) believing fraud is somewhat or very much prevalent in [the] crypto world," they added.

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