- The global head of digital assets for Goldman’s Sachs private wealth management division has revealed that the company will allow clients to invest in cryptocurrencies from the second quarter.
An American multinational investment bank and financial services company headquartered in New York City, Goldman Sachs is ready to enter the world of cryptocurrencies.
About this significant crypto adaptation by New York bank, which is also one of the largest investment banking enterprises in the world by revenue, we learned today thanks to Mary Rich a new global head of digital assets for Goldman’s private wealth management division.
Mary Rich also revealed to CNBC that there is a group of clients who see this asset as a hedge against inflation.
There’s a contingent of clients who are looking to this asset as a hedge against inflation, and the macro backdrop over the past year has certainly played into that,
There are also a large contingent of clients who feel like we’re sitting at the dawn of a new Internet in some ways and are looking for ways to participate in this space.
The fact that Goldman Sachs clients have been interested in cryptocurrencies for a long time has been also proven by a recent survey where as many as 54% of respondents said that they believe BTC will keep the price between $ 40K-$ 100K throughout the year.
Goldman’s private wealth management division, which focuses primarily on individuals, families and endowments with a minimum investment of $ 25 million, will begin investing in cryptocurrencies in the second quarter of this year.