Impressive demand for cryptocurrencies is “seen” by Goldman Sachs, with the American house working to restart the trading sector in this sector.
In a survey of about 300 of the house’s customers, 40% of them have a significant exposure to cryptocurrencies, according to Matt McDermott, global head of digital assets at Goldman Sachs Global Markets Division.
The situation is different compared to the Bitcoin “bubble” in 2017 due to the “huge” demand from institutional clients and private banking clients, McDermott said in a podcast.
According to Bloomberg, he confirmed the plan that Goldman will resume trading for cryptocurrencies, which, as he said, will be in a rather narrow context initially, with emphasis on areas such as futures contracts. At the same time, he pointed out that American banks must deal with the regulations and the framework that prevent them from trading cryptocurrencies.
According to Bloomberg, cryptocurrency enthusiasts claim that digital tokens and blockchain technology are constantly gaining ground among institutions and investors. At the same time, the derivatives market and new investment products have made digital assets more easily accessible.
According to some strategic analysts, this category of assets makes a difference for portfolios, at the same time that other investors are quite worried about the course of cryptos and Bitcoin in particular.
Bitcoin rose as much as 3.4% on Monday in Asia, while Ether gained as much as 5.3% to the highest since Feb. 23.