People are pouring money into bitcoin and other cryptocurrencies because they are more willing to take risks in a benign economic environment, according to a fund manager.
“To me, the big issue in markets is actually we have been in denial as investors globally about how good things are,” Eric Lonergan, macro fund manager at M&G, told CNBC on Tuesday.
“But what this is telling you on the ground is people’s experience of economic conditions is actually a good one, and so they are willing to take a risk.”