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Goldman Sachs asked clients about bitcoin’s cost trajectory



lloyd blankfein goldman sachs authority and ceo


Goldman
Sachs Chairman and CEO Lloyd Blankfein speaks during a Bloomberg
Global Business Forum in New York, U.S., Sep 20,
2017.

REUTERS/Brendan
McDermid



  • 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
    investors.

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
cryptocurrency.

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
that
would offer liquidity to clients who wish to trade bitcoin. The
“strats” group called bitcoin a “Topic du jour” in a email to
clients.

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

“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

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