Goldman Sachs recognises bitcoin as an asset class



05/26/2021 3:53 AM


Matthew McDermott, head of digital assets at Goldman Sachs, noted the growing demand for cryptocurrencies among institutional investors. He wrote this in an email to Global Marco Research.



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The world's most popular cryptocurrency, Bitcoin, has become an investment asset that is now going through a phase of adoption. This is the belief expressed by McDermott.

In a letter, he acknowledged the growing demand for cryptocurrencies among institutional investors and asset managers, CoinDesk writes.

He believes that inconsistent actions by regulators in many countries could have a negative impact on the development of the digital asset market. However, he noted that cryptocurrency storage solutions have become safer.

Some US bank clients are showing interest in cryptocurrency: in addition to bitcoin, they are turning their attention to Ethereum.

A top Goldman Sachs executive added that the bank will offer corporate clients access to cryptocurrency through a fund or structured products.

source: investing.com


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