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The crypto investment service will open to Goldman Sachs clients in Q2, according to a quote from CNBC.
More specifically, according to a source from CNBC, Goldman Sachs representative Mary Rich confirmed “the bank’s plan is to provide crypto assets to investors in need”.
This move will help Goldman Sachs clients get closer to the cryptocurrency market, opening up new investment opportunities.
CNBC quoted Mary Rich: “Goldman Sachs is working closely with all parties to help our wealthy clients get exposed to bitcoin and altcoins. Some services investing in cryptocurrencies will be coming in the near future.
Expected, the service will take place in the second quarter of this year.
Given Goldman Sachs’ existing position, the bank can bring a new influx of money into the Bitcoin market through its participation in crypto funds.
“Demand was the major driving force behind Goldman Sachs’s decision to enter the Crypto market,” Rich continued.
“Many Goldman Sachs clients are seeing bitcoin as a hedge against inflation and the bad situation over the past year has caused demand for bitcoin to soar … many people are really looking to enter this market.”
Like many major banks, Goldman Sachs has also changed its view on bitcoin, from a bank skeptical of cryptocurrencies … now much more open.
“Ultimately the big banks will have to provide bitcoin services to everyone,” commented Morgan Creek Digital co-founder Anthony Pompliano.
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