Goldman Sachs crypto survey shows 22% of respondents expect $100,000-plus bitcoin

advertisement

Investment banking giant Goldman Sachs has posted the results of a survey on bitcoin and digital assets that suggests investors are bullish.

The New York-based firm, which operates a digital asset business within its markets division, surveyed a mere 280 clients on the topic of digital assets. The results—which were shared Thursday by Goldman Sachs' Max Milton—show that 40% have exposure to cryptocurrencies. 

Meanwhile, more than 60% of those respondents expect their digital asset holdings to increase over the next 1 to 2 years. About 20% of respondents expect bitcoin to trade above $100,000 within the next 12 months. 

Goldman Sachs appears to be reigniting its bitcoin trading desk operation, as The Block reported earlier this week. 

The move comes as bitcoin's price flirts once more with $50,000. The bank first launched a bitcoin desk — which cleared futures and traded non-deliverable forwards — in 2018. But the firm apparently shut the desk down at some point.

Now the desk is set to re-open in mid-March, according to a source. It will not be trading bitcoin itself — at least to start.  For now, it is trading derivatives tied to the asset and exploring how it can work with a third party custody provider to offer sub-custody for bitcoin. 

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC
More