Goldman Sachs is one of the biggest financial organizations to recognize the crypto potential. The bank has officially issued a survey to reinforce its interest in future cryptocurrency dealings. In a recent report issued by the institute, 34% of Goldman Sachs clients have a firm belief that Bitcoin can raise up to $100,000 next month.
The investment bank has made a name for itself by being the top financial consultants for the largest known hedge funds, corporations, stock markets, and all forms of securities. The crypto community can be seen quoting cryptocurrency impression reports in their favor, issued by Goldman Sachs, known as Digital Assets Client Survey.
The Bull Market Trend of Bitcoin
The highlights of this report show that Bitcoin is likely to experience a bullish market trend in the near and distant future. It should be noted that most of the Goldman Sachs investors are thought to be conservative and traditional. However, leading to the popularity of Bitcoin in 2020, it has become impossible for the investment giants to remain neglectful of the crypto space.
Other noteworthy statistics from this report indicate that out of the 280 Goldman Sachs respondents, 40% already own at least one type of cryptocurrency, and a majority expect their portfolio to grow in the span of the next 12 -24 months period. It should be noted that these respondents hail from a vast array of backgrounds like asset managers, hedge funds, macro funds, pension funds, insurance companies, and other such corporations.
GS Shifts Gears on Bitcoin
One lesser noted fact from Goldman Sachs Digital Assets Clients Survey points out 35% of the investors that have decided not to bet on cryptocurrency were set off due to its volatile behavior and lack of crypto regulations. This fact does not come as a surprise as Goldman Sachs has a similar history of not recognizing cryptocurrency as a proper “asset class commodity” in the past.
There is also news circulating about Goldman Sachs to facilitate their clients by issuing Bitcoin futures and non-deliverable forwards. Goldman Sachs is the latest entity giving a green signal to crypto space.