Home / Business / Goldman Sachs asked clients about bitcoin’s cost trajectory

Goldman Sachs asked clients about bitcoin’s cost trajectory

lloyd blankfein goldman sachs authority and ceo
Sachs Chairman and CEO Lloyd Blankfein speaks during a Bloomberg
Global Business Forum in New York, U.S., Sep 20,


  • Goldman asks clients where they consider bitcoin price
    will be during a finish of December.
  • No accord among 1,200 who responded.
  • There’s rising seductiveness in bitcoin from institutional

LONDON — Goldman Sachs asked clients their views on bitcoin’s
expected cost trajectory, nonetheless another pointer of flourishing seductiveness in
cryptocurrency from mainstream finance.

Goldman Sachs’ marketplace “strat” group within a bonds division
sends a monthly check to clients to sign their meditative on a
accumulation of investment issues.

The Dec “Quickpoll” includes a question: “Where do we see
bitcoin during a finish of a year?” — suspicion to be a initial time
a investment bank has used a check to ask clients about the

BI understands that around 1,200 Goldman clients answered the
question. Opinion on a cost arena was divided, though the
biggest minority — 30% — answered “Higher [12,000 – 15,000].” 15%
pronounced they believed bitcoin would be reduce or most reduce by the
finish of a year, while 28% had no view.

Bitcoin’s cost has surged over 1,000% so distant this year to

around $11,800 as of Tuesday afternoon
. However, the
cryptocurrency has been disposed to furious swings in price.

The arise in cost has coincided with rising seductiveness from
institutional investors and a companies that offer them.
Exchange operators CBOE and CME Group are both set to launch
bitcoin futures contracts after this month and Nasdaq is rumoured
to be formulation a identical product.

Goldman Sachs itself is reportedly
deliberation rising a cryptocurrency trade desk
would offer liquidity to clients who wish to trade bitcoin. The
“strats” group called bitcoin a “Topic du jour” in a email to

However, CEO Lloyd Blankfein pronounced during a new TV interview
that it was
too early for a investment bank to rise a bitcoin

“Something that moves adult and down 20 percent in a day doesn’t
feel like a currency, doesn’t feel like a store of value,”
Blankfein said.

Article source: http://www.businessinsider.com/goldman-sachs-polls-clients-on-bitcoin-2017-12