Bitcoin market cap goldman sachs
Dec 11, · Ex-Goldman Sachs exec: Ethereum could surpass Bitcoin’s market cap in 10 years. Its market cap strongly eclipses that of any other crypto asset. CryptoSlate market data indicates that Bitcoin has a market capitalization of $ billion while Ethereum has a market . Dec 18, · In a way, it seems like Goldman Sachs is pouring cold water on the idea that BTC has the potential to threaten gold’s standing in the market. Some crypto entrepreneurs, such as the Winklevoss twins, have argued that there is a case for Bitcoin hitting $, because of how it is a better store of value than gold. Dec 18, · Market Cap: $,,, However, defying this opinion another Wall Street giant Goldman Sachs said that Bitcoin’s popularity is not a threat to Gold. Goldman Sachs believes that both the asset class can co-exist. In a note to clients accessed by Bloomberg, the banking giant wrote.
Bitcoin market cap goldman sachsGoldman Sachs: "Bitcoin is Not a Threat to The Gold Market"
Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate because the larger the market cap of Bitcoin is….
This is an opportunity for retail to front-run the institutions for once as opposed to Goldman Sachs front running us. So they passed the custody regulations in the US, so now banks can custody. That means prime broking is coming for hedge funds. Please check your inbox or spam folder to confirm your subscription.
Thank you. What Is Blockchain? What Does Hodl Mean? Similar comparisons have been made previously by bank executives — most notably J. Goldman played down the idea that bitcoin is a "scarce resource," noting that some of the most valuable coins — bitcoin cash and bitcoin SV — are "forks. Bitcoin bulls often claim the digital asset's limited supply is part of what underpins its value and makes it a potential "hedge" against currencies which are vulnerable to devaluation in times of economic crisis.
The bank also called cryptocurrencies a "conduit for illicit activity," highlighting their use in fraudulent schemes and money laundering. Fidelity last year set up a separate unit devoted to cryptocurrency clearing and custody, while J. Morgan developed its own internal digital currency, " JPM Coin ," for payments. By considering it unviable for its investors, Goldman Sachs has risked causing its investors to miss out on one of the best performing asset classes in the past years, never mind the last Correction: This story has been amended to reflect the fact that the presentation was written by Goldman Sachs' Investment Strategy Group.
Skip Navigation. Markets Pre-Markets U. Key Points. Crypto enthusiasts had eagerly anticipated the Goldman call, with some assuming it might lay out a case for investing in bitcoin. Industry figures like the Winklevoss twins quickly took to Twitter to criticize the investment bank's claims.