Bitcoin Gains Strength With Increased Business Acceptance


Bitcoin on Wednesday for the first time since March 20 came close to the $ 60,000 level, but could not take it outright.

Goldman Sachs, one of the largest US banks, is preparing to offer large clients investments in bitcoin in the wake of Morgan Stanley. Thus, clients of the two leading investment banks in the world can soon get access to cryptocurrencies.

Goldman Sachs customers will be able to invest in cryptocurrencies in the second quarter of 2021, Mary Rich, the new head of digital assets at the bank’s wealth management division, said.

Going forward, Goldman Sachs intends to offer a “full range” of investments in bitcoin and digital assets, “whether physical bitcoin, derivatives or traditional investment vehicles,” ttrcoin writes.

The private wealth management division of Goldman Sachs is primarily aimed at individuals with investment assets of $ 25 million or more.

In mid-March, it became known about similar plans of Morgan Stanley. It is expected that assets of Morgan Stanley clients in bitcoin will begin to be placed in April. Until this time, American banks have largely avoided cryptocurrency, calling it too volatile and speculative for their clients.

The founder of the crypto bank Galaxy Digital, Mike Novogratz, said that the capitalization of bitcoin will inevitably reach and exceed the total market value of gold. The investor is shocked by the pace of digital asset adoption.

Recall that in February, Novogratz predicted bitcoin growth to $ 100,000 by the end of 2021 if other companies follow Tesla’s lead and invest in digital gold.

“Bitcoin is gaining momentum with more business adoption. Visa announced this week that it will integrate transactions based on the USD Coin (USDC) stablecoin into its ecosystem. In the coming months, payment giant PayPal will provide users with the ability to pay for purchases with Bitcoin, Bitcoin Cash, Ethereum and Litecoin at millions of points of sale, ”said the FxPro team of analysts.

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