Bitcoin (BTC) and some altcoins will soon be available to Goldman Sachs customers, according to a new media report.

Comments published by CNBC on Wednesday from an interview with Mary Rich, global head of digital assets in the bank’s asset management division, confirmed the bank’s plans to offer cryptocurrencies to investors.

Goldman CEO: Cryptocurrency Access Coming “Coming Soon”
The move will make Goldman the second major lender to open up the cryptocurrency world to its customers, and it will come weeks after Morgan Stanley’s groundbreaking move.

“We work closely with teams across the company to explore ways to provide thoughtful and appropriate access to the private customer ecosystem, and this is what we expect to offer in the near future,” Rich was quoted as saying by CNBC.

Morgan Stanley is expected to start rolling out in April and Goldman in the second quarter. Both banks have the potential to attract large amounts of new capital to the Bitcoin ecosystem through their participation in cryptocurrency-focused funds.

Rich went on to point out claims as the driving force behind Goldman’s decision.

“There is a contingent of customers who see this asset as a hedge against inflation, and the macroeconomic background over the past year has definitely played a role in this,” she added.

“There is also a large customer base that feels that we are somehow sitting at the beginning of the new Internet and looking for ways to participate in this space.”
Like many major banks, Goldman changed his mindset for bitcoin this year, going from a sharp skeptic to accepting the phenomenon – especially unlike central banks, including the US Federal Reserve.

“Ultimately, they need to offer bitcoin services to everyone,” commented Morgan Creek Digital co-founder Anthony Pompliano.

BTC / USD rises immediately after a crash
Bitcoin’s price action reacted warmly to the news and increased above the $ 58,000 mark again after a sudden above $ 2000 crash on Wednesday.

According to the Cointelegraph, analysts are still less concerned about the lack of speed, pointing to solid fundamentals and the need to get rid of overleveraged positions before hitting record highs.

$ 68,000 and $ 73,000 are of interest for a potential breakout.

Source: CoinTelegraph

LEAVE A REPLY