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.
The most popular cryptocurrency is booming exponentially after its technical infrastructure and application frame (particularly in blockchain applications) have been recognized across a wide range of industries and global organizations, despite different attitudes toward Bitcoin and its applications, and strict restrictions of the cryptocurrency trading in some countries.
The news about Goldman Sachs CEO Lloyd Blankfein consideration on bitcoin was announced a day after Goldman’s statement about readness to create bitcoin trade services.
Industry top analysts express their optimism regarding bitcoin’s short-term price trend, saying its price may reach $6,000 by the end of the year.
Goldman Sachs has published answers to FAQs about cryptocurrencies as it’s getting harder for institutional investors to ignore their rise.
Goldman Sachs has developed a new cryptocurrency using the blockchain technology.
Nine of the world’s major banks, such as JP Morgan, Goldman Sachs and Barclays, are expected to adopt the blockchain technology in an attempt to broaden its use in the financial services sector.
Goldman Sachs announced its partnership with IDG Capital Partners, a major Chinese investment firm, to make a $50 million investment into Circle Internet Financial, a Bitcoin-focused start-up.
Nearly 80% of all bitcoin trading volume is driven by the Chinese national currency.
Warren Buffett, who earlier this month said he wouldn’t own bitcoin because he doesn’t consider it a store of value or reliable means of exchange, again dismissed bitcoin on Friday.
Bitcoin has potential as a payment technology but is not likely to become an alternative currency, according to a new report from Goldman Sachs.