Goldman Sachs Names Bitcoin Best-Performing Asset Year-to-Date
According to the data shared by Goldman Sachs, Bitcoin has gained as much as 51% in year-to-date absolute returns.
Bitcoin has potential as a payment technology but is not likely to become an alternative currency, according to a new report from Goldman Sachs.
According to the data shared by Goldman Sachs, Bitcoin has gained as much as 51% in year-to-date absolute returns.
Goldman Sachs first launched a cryptocurrency trading desk back in 2018. However, at that time, Bitcoin’s price was plunging, which did not encourage interest in the currency at all.
Goldman Sachs Group Inc. doesn’t seem to be any closer to offering one the key services sought by clients still intrigued by cryptocurrencies amid this year’s collapse in digital-asset prices.
Investment banking giant Goldman Sachs has reportedly started signing up a limited number of customers for its upcoming bitcoin trading product.
Goldman Sachs will continue working on cryptocurrency trading desk as well Bitcoin derivate products and clearing physical futures contracts.
The launch of crypto-custody service by Goldman Sachs will help to instill more confidence among investors and may even drive big players to participate in the cryptocurrency market.
Goldman Sachs is appointing a new CEO David Solomon, who will replace the incumbent chief executive Lloyd Blankfein in October. With the new CEO, the bank is expected to add more bitcoin and other crypto services to its portfolio.
Goldman Sachs takes the next leap in the crypto space by allowing its clients hold Bitcoin and its derivative products.
Goldman Sachs will be the first Wall Street giant to get involved with the cryptocurrency-related trading activity.
Goldman Sachs’ technical analysts Sheba Jafari and Jack Abramowitz believe Bitcoin could reach at least $7,941, according to the message sent to the company’s clients on Monday.