An govt at multinational investment financial institution Goldman Sachs believes an improve in participation from institutional investors is “key” to stabilizing nascent markets these kinds of as cryptocurrencies.
Talking on CNBC’s The Coin Rush on Tuesday, Goldman Sachs’ world head of commodities analysis, Jeff Currie, claimed the cryptocurrency market “is getting to be far more mature” but nevertheless has a way to go.
“Right now they are [institutional investors] tiny … about $700 billion of money in bitcoin ideal now, of that roughly 1% of it is institutional income,” claimed Currie.
Currie, who is the world head of commodities and exploration, also explained bitcoin is a defensive asset very similar to gold. He mentioned gold’s $3 trillion industry, indicating some of that dollars could be allocated to cryptocurrency.
“Right now all of the cryptocurrencies have about a trillion [dollars]. Let us say it grows to $2 trillion, then you just do the straightforward math – how quite a few coins are out there divided by that – and you can…
- According to the source Goldman Sachs Exec Says More Institutional Investment Would Calm Bitcoin Volatility
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