Goldman Sachs Data Reveals Institutional Bitcoin Trend Expected To Continue
Goldman Sachs’ interest in crypto has been blossoming over the last few years and current trends suggest that this is not slowing down anytime soon. Recently, the investment banking firm carried out a survey in a bid to understand how its clients are interacting with the crypto market and the findings have revealed that institutional […]
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Global investment bank Goldman Sachs is seeing huge institutional demand for bitcoin with no signs of abating. A survey of Goldman’s institutional clients shows that 61% expect to increase their cryptocurrency holdings. Meanwhile, 76% say the price of bitcoin could reach $100,000 this year. Goldman Sachs Sees No Signs of Institutional Demand for Bitcoin Abating In a podcast published Friday, Mathew McDermott, head of Digital Assets for Goldman Sachs’ Global Markets Division, discusses the cryptocurrency trading environment for institutional investors. He explained that his team....
Global investment banks Goldman Sachs and JPMorgan Chase are winding down business in the Russian Federation. The move comes as western sanctions against Moscow over its decision to launch a military invasion of Ukraine continue to expand, supported by leading financial institutions. Goldman Sachs and JPMorgan Scale Down Russian Operations Goldman Sachs Group and JPMorgan Chase have become the first major American banks to announce they are leaving Russia, a process that according to industry experts may take months if not years. Their decisions follow the imposing of unprecedented....
Investment bank Goldman Sachs has reportedly begun offering a bitcoin investment product to clients. The firm has opened up trading with non-deliverable forwards, a bitcoin derivatives product. To hedge against the cryptocurrency’s volatility, Goldman Sachs will trade bitcoin futures on CME Group. Goldman Sachs Begins Offering Bitcoin Product to Clients Investment bank Goldman Sachs “has opened up trading with non-deliverable forwards, a derivative tied to bitcoin’s price that pays out in cash,” Bloomberg reported Thursday. The firm is protecting itself from....
Investment bank Goldman Sachs says institutional investors and asset managers are driven to bitcoin by “fear of missing out” (FOMO). Goldman now considers bitcoin a new asset class. Nonetheless, institutional investors are facing several strong barriers to entry into the crypto market. Asset Managers, Institutions Facing Crypto FOMO Goldman Sachs said Monday that the fear of missing out (FOMO) on potential gains from cryptocurrencies among investors has pushed crypto prices higher over the past year. Mathew McDermott, Goldman Sachs’ global head of digital assets, said in....
Goldman Sachs has predicted that the price of bitcoin could reach $100,000. The global investment bank believes that bitcoin will continue to take market share away from gold as cryptocurrency adoption grows.
Goldman Sachs’ Bitcoin vs Gold Prediction
Goldman Sachs analyst Zach Pandl, co-head of global foreign exchange strategy, outlined the future outlook for bitcoin in a research note to clients Tuesday.
The Goldman Sachs analyst expects that bitcoin will continue to take market share away from gold in 2022 as cryptocurrencies become more widely adopted. The....