Goldman Sachs Says Bitcoin is on The Path to Maturity
Cryptocurrency Broker – Luke
Analyst and Global Head of Commodities research from Goldman Sachs, Jeff Currie, reportedly believes that more institutional cash is required to balance and stabilise the market. Even after more than ten years of price volatility, Bitcoin (BTC) is now beginning to grow as a digital asset class. Currie has said in an interview with CNBC that Bitcoins’ amazing climb has caught the attention of larger institutional interest, however noted how smart financial investors are currently only a small part of the entire market.
It has been reported that Currie believes the market for buying Bitcoin is “beginning to become more mature” while also noting how volatility and other risks that come with it are not uncommon for nascent assets. He goes on to say that the way to create some kind of stability within the market is by looking out for an increase with the institution investors. Some of the most popular names in Wallstreet like Stanley Drunkenmiller and Paul Tudor Jones have already made large Bitcoin investments in the last year.
Goldman Sachs had changed its mind on Bitcoin investing as well as other cryptocurrencies of recent. The company has also extended its human resources department to add cryptocurrency experts, while also creating guidance to the coexistence of gold and Bitcoin as macro hedges.
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