Goldman estimates that the public holds about $2.6 trillion of gold for investment purposes, assuming a gold price of $1,800 per troy ounce. Bitcoin’s float-adjusted market capitalization is currently just under $700 billion, Pandl wrote, adding that this implies Bitcoin currently commands an approximate 20% share of the “store of value” (gold and Bitcoin) market. Source … [Read more...] about Bitcoin Can Reach $100,000 in ‘Hypothetical’ Store of Value Boost, Goldman Sachs Says
Sachs
Goldman Sachs Says Blockchain Is Key to Metaverse and Web 3 Development
Blockchain technology is central to the development of the metaverse and Web 3, Goldman Sachs said in a research report.It is the only technology that can “uniquely identify any virtual object independent of a central authority,” and this ability to identify and track ownership will be crucial to the functioning of the metaverse, analysts led by Rod Hall wrote in a note … [Read more...] about Goldman Sachs Says Blockchain Is Key to Metaverse and Web 3 Development
Goldman Sachs, Other Wall Street Banks Exploring Bitcoin-Backed Loans: Sources
Goldman Sachs is among a handful of tier-one U.S. banks figuring out how to use bitcoin as collateral for cash loans to institutions, according to three people familiar with the plans.Banks such as Goldman will not touch cryptocurrency spot markets but lean towards synthetic crypto products such as futures. Emulating tri-party repo type arrangements (a way of borrowing funds by … [Read more...] about Goldman Sachs, Other Wall Street Banks Exploring Bitcoin-Backed Loans: Sources
Goldman Sachs Sees Crypto Options Markets as ‘Next Big Step’ for Institutional Adoption
“There might be equity funds that have an exposure to a stock that has underlying bitcoin holdings,” explained Kazantsev. “In order to hedge that exposure, they might trade futures against that. For them, rather than rebalancing the portfolio dynamically, what they really want to do is hedge for the longer term, and to know the downside on the hedge that they can have. That’s … [Read more...] about Goldman Sachs Sees Crypto Options Markets as ‘Next Big Step’ for Institutional Adoption
Goldman Sachs predicts $8,000 per Ethereum (ETH) by the end of 2021
As the year is gradually drawing to a close, a number of high-profile predictions have begun to emerge on what the value of some of the leading digital assets could be. The latest is from leading investment bank Goldman Sachs who predicted that Ethereum’s value could rise to $8,000 before the end of the year. Ethereum to hit $8,000 According to a research note, attributed to … [Read more...] about Goldman Sachs predicts $8,000 per Ethereum (ETH) by the end of 2021