David Solomon, CEO of Goldman Sachs, has forecast a “big evolution” in how the United States government regulates Bitcoin and other cryptocurrencies in relation to financial institutions. In an interview with CNBC today, Solomon was quizzed on the banking giant’s moves to adopt Bitcoin (BTC). The CEO kept his cards close to his chest but conveyed that the bank is keeping a close eye on digital currencies amid increasing demand for crypto exposure from its clients: “We continue to think about digital currency and the digitization of money in a very proactive way, and in that context, we are engaged …

Major financial institutions are expanding their cryptocurrency services, with Bakkt launching its digital asset payments application for the general public. Bakkt was launched by Intercontinental Exchange in 2018, with the firm offering Bitcoin futures contracts to accredited investors exclusively. The Bakkt App is the firm’s first retail-facing crypto initiative. Bakkt’s app was trialed by 500,000 users invited to participate in its Early Access Program in late 2020. The firm is also conducting a $1 million giveaway to encourage people to download the platform. Launched on March 30, the payments app allows users to manage Bitcoin and other digital assets, including …

Bitcoin (BTC) and some altcoins will soon be available to Goldman Sachs clients, according to a new media report. Released by CNBC on Wednesday, comments from an interview with Mary Rich, global head of digital assets for the bank's private wealth management division, confirmed the bank's plans to offer crypto assets to investors. Goldman executive: Crypto access coming in "near term" The move will make Goldman the second major lender to open up the world of cryptocurrency to its clients, and it comes weeks after a pioneering move by Morgan Stanley. ″We are working closely with teams across the firm …

U.S. banking giant Goldman Sachs recently decided to restart its cryptocurrency trading desk. This has reportedly led to an increased demand for digital assets among its customer base. According to a Reuters report, Goldman Sachs chief operating officer John Waldron said the firm is exploring how to meet an increasing demand from clients looking to invest in Bitcoin (BTC). The chief operating officer said Goldman Sachs would “continue to evaluate” and “engage on” crypto for customers. Matt McDermott, global head of digital assets for Goldman Sachs' global markets division, additionally said on Friday that 40% of Goldman investors have at …

American banking giant Goldman Sachs has officially confirmed its plans to revive a cryptocurrency trading desk amid increasing demand from investors. Matt McDermott, global head of digital assets for Goldman Sachs' global markets division, announced that the company will provide access to CME Bitcoin (BTC) futures on its upcoming crypto platform. In a Friday Exchanges at Goldman Sachs podcast, the executive also noted that Goldman Sachs will offer crypto services with non-deliverable forwards, or NDFs, which are cash-settled, and usually short-term, forward contracts. McDermott noted that initially Goldman Sachs’ crypto platform will be limited to these two products, stating: “We’re …

A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares. The price of TSLA shares have fallen 28% from $863.42 to $621.44, since news broke on Feb. 8 that Tesla had made a $1.5 billion BTC acquisition. MicroStrategy’s shares have fared even worse in the short term. The company, which is headed by Bitcoin bull Michael Saylor and just completed its latest acquisition of $15 million in BTC on Mar. 3, is now down 50% from its all-time high of $1,315 from Feb. 9. Tesla’s …

In hindsight, February can be viewed as a watershed moment in the history of Bitcoin. The entire month could be looked back upon by market specialists and economists, as the markets saw an enormous surge before correcting themselves later in the month. The flagship cryptocurrency asset, Bitcoin (BTC), hit its all-time high of $58,352 on Feb. 21 while finally breaking the $1 trillion mark in market capitalization. On the same day, the second-most prominent asset in the space, Ether (ETH), hit its all-time high of $2,033.08. In February, Bitcoin’s price was a bit of a rollercoaster, almost drawing a bell …

A research analyst from Goldman Sachs who has previously spoken favorably about Bitcoin and blockchain technology will reportedly be joining New York-based asset management firm Third Point. According to a Reuters report on Tuesday, Third Point hired Heath Terry, a managing director of Goldman Sachs’ tech division. He has been with the investment firm for 10 years and will reportedly become part of Third Point’s team handling venture investments. Terry has previously spoken about Bitcoin (BTC) prior to the 2017 bull run, predicting the crypto asset was “going to mature” and would likely see more use cases. He said it …

Peter Brandt, a popular veteran trader and CEO of proprietary trading firm Factor LLC, recently gave his thoughts on Goldman Sachs potentially restarting its cryptocurrency desk. Us old-timers have learned that whenever @GoldmanSachs enters a market niche it is time to guard your money. $BTC pic.twitter.com/tHfRkS4igb — Peter Brandt (@PeterLBrandt) March 1, 2021 On Dec. 21, 2017, a similar Bloomberg piece stated that Goldman Sachs would set up a cryptocurrency trading desk, although the bank was “still trying to work out security issues.” Although Brandt’s chart seems significant, one needs to understand that such speculation had been ongoing for a …

On March 1 cryptocurrency investors woke up to the sight of Bitcoin (BTC) rising from it weekend correction to $44,000 as the market found its bullish momentum and altcoins rebounded from their swing lows. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin increased 16.6% from its low of $43,504 on Feb. 28 to the $50,000 level which bulls are attempting to flip back to support. Earlier in the day, MicroStrategy CEO Michael Saylor tweeted that the firm had purchased another $15 million worth of Bitcoin, bringing its total holdings to 90,859 BTC and further demonstrating that …

Not all analysts are convinced that Tesla’s recent acquisition of $1.5 billion worth of Bitcoin (BTC) will prove to be as beneficial for the tech giant as it was for the BTC coin price. Head of equity strategy at Saxo Bank, Peter Garnry, wrote in a research note that Elon Musk had exposed Tesla and its investors to “immense risk”, as reported by Reuters on Feb. 11. “Elon Musk has exposed Tesla to immense mark-to-market risk,” wrote Garnry, adding that the main concern for investors was valuing Bitcoin’s worth over the long term, given the intense market volatility it’s been …

After more than a decade of extreme price volatility, Bitcoin (BTC) is finally starting to mature as an asset class, according to Jeffrey R. Currie, Goldman Sachs’ global head of commodities research. In an interview with CNBC, Currie said Bitcoin’s remarkable run has attracted greater institutional interest, but noted that smart-money investors are still a tiny fraction of the overall market. They will need to come in droves for Bitcoin to become a stable asset and avoid a flash crash like we saw earlier this week, he said. “I think the market is beginning to become more mature,” Currie said …