Says the official purveyor of assets, Goldman Sachs.
I guess we now know who’s been buying this dip!
In a new piece of research conveniently released right after the bottoming of prices, Goldman Sachs has now officially deemed Bitcoin an asset.
Saying it is extremely rare to witness the emergence of a new asset class, it’s normal to see Bitcoin’s volatile prices as people start to adopt the asset.
An important line in the report says that despite the regulatory risks and concerns, institutional clients remain keen on getting exposure to crypto.
The pandora’s box has been opened. DeFI, NFTs, Blockchain and Cryptocurrencies are here to stay. Warren Buffet doesn’t need to care about this, just as he doesn’t need to be exposed to tech firms. He has enough money, and not nearly enough time to spend it all.
But for the rest of us, let’s get on with the program. Bitcoin is not dead.