TL;DR Breakdown
- The demand for cryptocurrencies from its clients is increasing by the day, according to Goldman Sach’s COO.
- Popular analyst, Peter Brandt remains skeptical about the banking firm’s cryptocurrency interest.
There is no doubt that cryptocurrency interest in the world today is of immense capacity. Many investors, firms, and analysts have been able to justify this belief. The latest to talk about the growing interest in cryptocurrencies is John Waldron.
While speaking in an interview with Reuters, the chief operating officer of the leading global investment banking firm, Goldman Sachs, voiced out his opinion of clients’ cryptocurrency interest. He stated that the demand for cryptocurrencies from its clients is increasing by the day.
He further explained the reason for the high rate of cryptocurrency interest. He added that the recent pandemic had a crucial role to play in the demand for cryptocurrencies. According to John, cryptocurrency interest will skyrocket due to the pandemic’s effect, and there is no doubt about it.
In the interview, John also addressed the issue of regulation. He disclosed that the company is making plans to work with many firms worldwide, including central banks and regulatory bodies. With the number of people venturing into digital currency, it is unwise not to adopt regulations.
Cryptocurrency interest: Goldman Sachs to exploit Bitcoin
Just recently, the firm reestablished its crypto trading desk. And since then, it has developed a keen interest in the most sought-after cryptocurrency, Bitcoin. Sources report that Goldman Sachs traded BTC futures this week.
What more, the firm is looking to create an investment fund that supports Bitcoin — ETF (Exchange Traded Fund). However, the banking firm’s recent activities have not affected Bitcoin’s price movement in any way.
Bitcoin hasn’t been affected by Goldman Sach’s actions
According to the data above, it can be seen that the activities of the banking firm has not contributed to any bullish run. According to veteran trader and expert analyst, Peter Brandt, “Goldman Sach’s cryptocurrency interest is unnecessary for the growth of Bitcoin.”
