Goldman Sachs is planning to offer its wealthy clients Bitcoin-based investment products. The global digital assets head, Mary Rich, said that the bank is envisioning to provide investment opportunities in the digital asset segment by the quarter.
She said that they are working closely with the teams across the firm to explore different ways to offer thoughtful and appropriate access to the ecosystem for wealthy private clients. She also added that it is something that they are expecting to offer in the near term.
With markets slowly stabilizing and bitcoin trading at $46,378 (at the time of writing), the demand for BTC is aviating. Institutions are accumulating bitcoin unlike ever.
Recently MacroStrategy, a subsidiary of MicroStrategy, purchased Bitcoin for a $205 million bitcoin-collateralized loan with Silvergate Bank. As of December 2021, they held over $2.5 billion worth of bitcoin.
Goldman Sachs survey strengthens the crypto belief
A survey done by the Goldman Sachs global market division states that more than 40% of its clients had exposure to crypto and its usage.
The survey also noted that 40% of the respondents have crypto exposure, and 54% predicted that BTC would hit $40,000 and $100,000. Reports also suggest that Goldman would restart its cryptocurrency trading desk to support bitcoin futures trading again.
Goldman’s decision to offer bitcoin-based investment products is with the firm belief in its clients and the exposure of its clients to crypto.
To catch a piece of 21,000,000
With the surging inflation fear and the fear of missing out, bitcoin demand is soaring. Everyone is fighting to get a share of their BTC until there is no left out.