Look beyond crypto to the blockchain technology behind it: PGIM report
According to the report, institutional investors should look for exposure to blockchain technology and its applications, since cryptocurrencies are neither currency nor precious metal substitute.
Cryptocurrencies fail as safe havens in a volatile market or as hedges against inflation, and there is no compelling reason for institutional investors to include them in their portfolios for diversification, according to a research paper published by PGIM yesterday (May 18).
Instead, they should be investing in the blockchain technology behind crypto, and its applications such as smart contracts; interoperability and fraud prevention solutions; and tokenisation, said Shehriyar An…
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