Titus

In addition to large institutional investors, cryptocurrencies are also increasingly on the radar of large investment banks. Goldman Sachs CEO David Salomon talks about his assessment in an interview.

For a long time, Wall Street viewed the events of the crypto sector rather skeptically or had problems taking Bitcoin & Co. seriously at all. Finally, however, more and more signs of a change in values ​​can be seen. The most recent example is an interview that Goldman Sachs CEO David Solomon gave to Canadian broadcaster CNBC. In it, he spoke of a “great development” facing the United States government with regard to the regulation of Bitcoin and other cryptocurrencies.

In the interview published on Twitter, Solomon was asked about Goldman Sachs’ plans to invest in Bitcoin (BTC). The manager didn’t let himself be looked at. However, he revealed that his bank is keeping a close eye on digital currencies amid growing demand for crypto engagements from their customers.

According to the current legal situation in the USA, banks are prohibited from offering direct investments in cryptocurrencies. These are considered to be volatile and risky asset classes. Due to these regulations, financial institutions can only offer exposure to crypto values ​​in the form of custody positions for digital assets. These include, for example, securities or exchange-traded funds (ETFs). As long as the SEC is obstructing the approval of such a Bitcoin ETF, this possibility remains purely theoretical.

Solomon hinted that this situation would change over time, but he didn’t want to speculate on what that actually means.

I think there will be a big development. How this will develop in the coming years depends on the rules we have.

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Disclaimer: These lines are not a substitute for investment advice, investments in the crypto market are made at your own risk. Invest only as much as you are willing to lose. I get commissions for purchases made through links in this post.




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Big developments ahead for Crypto | by Titus | The Capital | Apr, 2021

by Benjamin Hartman
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