Mike Novogratz is confident Goldman Sachs will invest in bitcoin
Former Goldman Sachs Employee Confident The Future Is DeFi
Goldman Sachs does not recommend investing in bitcoin
Goldman Sachs, along with other Wall Street giants, has already begun to look closely at bitcoin and may invest in cryptocurrencies as early as next year.. Such opinions adheres to head of investment fund Galaxy Digital Mike Novogratz.
Bitcoin attracts large investors
Goldman Sachs partner Damien Vandervilt will join Galaxy Digital early next year in quality co-president and director of global markets. It will be work over narrowing the gap between Wall Street, bitcoin and cryptocurrencies. it gives base Mike Novogratz argue that Goldman Sachs will start “catching up” and stocking up bitcoins in the next 3-4 years.
“Goldman Sachs will have to deal with cryptocurrency itself,” Novogratz said in a telephone interview with Forbes. He also added that Galaxy Digital has an “edge” in its understanding of decentralized finance and cryptography, but Goldman Sachs has “tons of other talents.”, which help him catch up.
The bitcoin rate is growing steadily, which can become the main motivation for Goldman Sachs. Since the beginning of the year, cryptocurrency has risen in price by 40% and has become the most profitable asset on the market.
Goldman Sachs vs. Cryptocurrency
Mike Novogratz’s announcement caused a mixed reaction on crypto market. Yet Goldman Sachs recently argued that Bitcoin is not suitable for investment. Instead Togo, to assess the role of bitcoin in the economy as a defensive tool in the face of inflation, the bank cryptocurrencies.
Then the company changed his opinion and recommended users invest in digital assets. According to Goldman Sachs forecasts based on Elliott wave analysis, investors should buy bitcoin in district $ 11 000. The bank’s analysts expect that further the main cryptocurrency will begin to strengthen and reach first $ 12,916, and then $ 13,971. the whole Goldman Sachs recommends buy bitcoin on downturns as long as it traded above marks $ 9,084.
Bankers now recommend switching to the DeFi market Decentralized finance (DeFi) is financial services built on technology blockchain, which offer users access towards an open, efficient and… More, which will eclipse Bitcoin in popularity. Former head international Crude Oil Trading at Goldman Sachs Richard Rosenblum considers, what already soon market Decentralized Finance (DeFi) will outshine Bitcoin in popularity. About this Rosenblum stated in an interview with the YouTube channel TD Ameritrade Network.
“In the coming the years you will hear more about decentralized finance and less about bitcoin, “he said.
Looks like, company Goldman Sachs has not yet decided on cryptocurrencies and will continue to study this issue.
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