The overwhelming majority of Goldman Sachs
The funding banking large has posted the outcomes of a shopper survey discovering that 61% of respondents anticipate their digital asset holdings to extend within the subsequent 12-24 months. 40% of respondents have already got publicity to cryptocurrencies.
Notably, 57% of Goldman Sachs’ surveyed purchasers imagine a very powerful issue that drove bitcoin’s worth motion was “institutional investing or providing of extra merchandise.” In line with bitcointreasuries.org, a website that tracks bitcoin purchases by numerous forms of firms, 22 publicly listed enterprises at present maintain greater than $7 billion value of bitcoin. On March 1, MicroStrategy’s
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Information of the survey comes lower than per week after Reuters reported that Goldman Sachs has restarted its cryptocurrency buying and selling desk after a three-year hiatus, is inside weeks of launching bitcoin futures buying and selling, and is exploring the potential for a bitcoin exchange-traded fund and digital asset custody.
Buyers’ constructive future outlook is supported additional by findings that present 22% of respondents predict the value of bitcoin shall be over $100,000 in 12 months and greater than half anticipate the cryptocurrency to remain within the $40,000-$100,000 worth vary.
Apart from bitcoin, 29% of respondents selected ether because the cryptocurrency of curiosity and 13% picked stablecoins, cryptocurrencies pegged to an exterior asset, such because the U.S. greenback, to attenuate bitcoin’s volatility.
One other key takeaway is a comparatively sturdy investor sentiment round regulation. 34% of respondents cite it as one of many best hurdles for cryptocurrency investing and 24% discover a lack of well-regulated investable belongings to be the best barrier.
The survey was based mostly on responses from 280 respondents, together with asset managers and hedge funds, which account for almost all of surveyed corporations, in addition to banks, pension/sovereign wealth funds and others.