Investment bank Goldman Sachs presented the results of a survey on the topic of cryptocurrencies. The survey covered 280 clients, including hedge fund managers, corporate and insurance clients.
It turned out that 40% of them have positions in the cryptocurrency market. In this category, 41% own cryptocurrency “in physical form or in the spot market”. Others trade derivatives, such as bitcoin futures from the Chicago Mercantile Exchange (CME).
More than 60% expect their crypto assets to rise in value over the next 12-24 months. Most of the respondents also assume that the price of bitcoin over the next 12 months will remain in the range of $ 40,000 – 100,000, and 22% expect to exceed the upper limit.
15% of clients in the future are ready to place more than 10% of their assets in bitcoin, 37% – less than 5%, and 39% are not going to make such allocations. 42% are interested in bitcoin, 29% in ether, 13% in stablecoins, 16% in other digital assets. A third of those surveyed believe that regulatory and other legal issues are the main obstacle to investing in cryptocurrencies.
Overall, the survey results show that Goldman Sachs clients did not listen to the bank’s analysts when they said a year ago that cryptocurrencies “are not an asset class and are not suitable for investment.” This is likely related to the recent decision by Goldman Sachs to restart the cryptocurrency trading division.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
