Wave Of Institutional Clients At Goldman Sachs Are Diving Into Bitcoin & Crypto Markets
It’s probably more like a tsunami than a wave. Funny how not that long ago GS and a host of other now pro-Bitcoin and crypto corporation were constantly talking about what a joke it was. Now look where we are at:
Wave of Institutional Clients at Goldman Sachs Are Diving Into Bitcoin and Crypto Markets, According to Senior Executive
Mathew McDermott, head of digital assets at Goldman Sachs’ global markets division, says the New York-based investment bank is witnessing huge institutional demand for Bitcoin (BTC) and the crypto markets.
In a Goldman Sachs Markets Update, McDermott reveals that institutional interest in digital assets at the Wall Street firm is accelerating among a wide array of large investors.
“In terms of institutional demand, we have seen no signs of that abating. And when we talk about institutional demand we talk about the whole cross-section of the industry sectors… I’m referring to hedge funds, to asset managers, to macro funds, to banks, to corporate treasurers, insurance and pension funds. I think it’s pretty fair to say that all of that institutional client discussion is really focused around Bitcoin.”
According to McDermott, more than a third of Goldman Sachs’ institutional clients who responded to a survey by the Wall Street giant reported that they are currently holding digital assets.