This 1 New Move by Goldman Sachs Could Boost Bitcoin, Ethereum, and Maybe Even XRP
The famous investment bank Goldman Sachs (NYSE: GS) just did something that crypto investors need to know about. The bank's action has significant implications for the future prices of Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and perhaps also XRP (CRYPTO: XRP) in the future, assuming they repeat the move with another digital asset.Here's what Goldman Sachs did and why it matters.Per a filing with the Securities and Exchange Commission (SEC) in mid-February, Goldman Sachs recently bought large volumes of exchange-traded funds (ETFs) that hold Bitcoin and Ethereum. It now owns at least $1.5 billion of Bitcoin-based ETF shares, making it a major holding. This kind of purchasing activity doesn't happen by accident, nor does it happen in a vacuum. Players like Goldman Sachs don't purchase assets that aren't fully within the mainstream. They aren't about to take any chances on frontier assets that could be easily supplanted by others, or regulated out of existence.Continue reading
The famous investment bank Goldman Sachs (NYSE: GS) just did something that crypto investors need to know about. The bank's action has significant implications for the future prices of Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and perhaps also XRP (CRYPTO: XRP) in the future, assuming they repeat the move with another digital asset.
Here's what Goldman Sachs did and why it matters.
Per a filing with the Securities and Exchange Commission (SEC) in mid-February, Goldman Sachs recently bought large volumes of exchange-traded funds (ETFs) that hold Bitcoin and Ethereum. It now owns at least $1.5 billion of Bitcoin-based ETF shares, making it a major holding. This kind of purchasing activity doesn't happen by accident, nor does it happen in a vacuum. Players like Goldman Sachs don't purchase assets that aren't fully within the mainstream. They aren't about to take any chances on frontier assets that could be easily supplanted by others, or regulated out of existence.
