Jun 06, · Goldman Sachs told its clients Bitcoin is not a suitable investment. Its previous statements since suggest the bank's overall stance on crypto is not so pessimistic. May 28, · Goldman Sachs Group Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Oct. 7, Dec 11, · Ex-Goldman Sachs exec: Ethereum could surpass Bitcoin’s market cap in 10 years CryptoSlate market data indicates that Bitcoin has a market capitalization of $ billion while Ethereum has a market capitalization of closer to $62 billion. But, a leading Wall Street veteran working in the space recently postulated that this may change in.
Bitcoin market cap vs goldman sachsEx-Goldman Sachs exec: Ethereum could surpass Bitcoin's market cap in 10 years | CryptoSlate
Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. Bitcoin has been gobbled up like no tomorrow by institutions and accredited funds in the past months. XRP price plummets as Ripple slammed by U. Trending News. Israel Turkey U. Canada U. Africa Australia Venezuela. Close Window Trending Coins Litecoin.
The Graph. Synthetix Network Token. Bitcoin Vault. Companies Coinbase. Digital Currency Group. Multicoin Capital. Goldman Sachs. Andreessen Horowitz. Genesis Mining. People Brad Garlinghouse. Charlie Lee. Su Zhu. Kyle Samani. Charles Hoskinson. Brian Armstrong. Similar comparisons have been made previously by bank executives — most notably J. Goldman played down the idea that bitcoin is a "scarce resource," noting that some of the most valuable coins — bitcoin cash and bitcoin SV — are "forks.
Bitcoin bulls often claim the digital asset's limited supply is part of what underpins its value and makes it a potential "hedge" against currencies which are vulnerable to devaluation in times of economic crisis.
The bank also called cryptocurrencies a "conduit for illicit activity," highlighting their use in fraudulent schemes and money laundering. Fidelity last year set up a separate unit devoted to cryptocurrency clearing and custody, while J.
Morgan developed its own internal digital currency, " JPM Coin ," for payments. By considering it unviable for its investors, Goldman Sachs has risked causing its investors to miss out on one of the best performing asset classes in the past years, never mind the last Correction: This story has been amended to reflect the fact that the presentation was written by Goldman Sachs' Investment Strategy Group.
Skip Navigation. Markets Pre-Markets U. Key Points. Crypto enthusiasts had eagerly anticipated the Goldman call, with some assuming it might lay out a case for investing in bitcoin. Industry figures like the Winklevoss twins quickly took to Twitter to criticize the investment bank's claims.