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Goldman Sachs has surveyed to find out how many of its clients are keen to invest in cryptocurrencies. It is noted that out of 280 respondents, 40% of them are already investing in cryptocurrencies.
- 57% of the respondents believe that the increase in the prices of cryptocurrencies is because of the increasing interest of the institutional investors in crypto
- 22% of the respondents feel very strong about bitcoin and feel that the prices of bitcoin will touch over $1,00,000 in 12 months
Goldman Sachs has done a survey under which 61% of its clients are bullish on cryptocurrency and feels positive about this new form of money-making.
The company has taken the survey from almost 280 respondents, including asset managers and hedge funds. The majority of the surveyed firms got responses from them.
These respondents will surge their digital assets’ investment within 12 to 24 months. Among them, 40% of respondents know about cryptocurrencies. According to the survey, 57% of the respondents believe that the increase in cryptocurrencies’ prices is because of the increasing interest of the institutional investors or the offering of additional products.
As per bitcointreasuries.org, there are 22 listed enterprises currently holding more than $7billion worth of bitcoin. MicroStrategy’s bitcoin holding has touched $4.45 billion in March 2021. The second place is bagged by Tesla with $1.5 billion in cryptocurrency during February 2021. Last October, PayPal 300 million retail customers got exposure to bitcoin.
This survey was published just a week after Goldman Sachs announced that they are starting a cryptocurrency trading desk after a gap of three years. This news has come within weeks of launching bitcoin futures trading.
In the survey, 22% of the respondents feel very strongly about bitcoin and feel that bitcoin price will touch over $1,00,000 in 12 months. More than half of the respondents believe that cryptocurrency stays in the $40,000 to $1,00,000 price range.
22 percent of respondents choose bitcoin, 29% of respondents would like to invest in ether. 13% picked up stablecoins. Another point that was covered in the survey was the regulations regarding cryptocurrencies. 34% of respondents believed that regulations in cryptocurrencies are the main hurdle for them to invest in it. In contrast, 24% of respondents suggest lacking well-regulated investable assets to be the topmost hurdle.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
