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Goldman Sachs prepares to launch Bitcoin investment products

The bank will make digital currencies available to investors from the second quarter of 2021, according to a new CEO of Goldman Sachs in an interview with CNBC.

to the Report Coin Telegraph, Bitcoin and some Altcoins will soon be available to Goldman Sachs customers.

In an interview with CNBC on Wednesday (April 11th), Mary Rich, Global Head of Digital Assets, Private Wealth Management at Goldman Sachs Bank, confirmed the bank’s decisions and plans to provide digital currencies to investors.

Marie Rich: Access to digital currencies will be possible soon

This makes Goldman Sachs the world’s second largest lender, opening the door to the world of digital currencies for its customers. A few weeks ago, Morgan Stanley Bank launched a groundbreaking move to offer digital currencies to its customers.

In an interview with CNBC, Marie Rich stated:

We are working closely with the company’s various teams to explore ways to provide smart and convenient access to the ecosystem for private wealth clients (digital currencies), and we plan to provide this service in the near future.

Morgan Stanley will launch digital currencies in April and Goldman Sachs in the second quarter of 2021. Both banks have the potential to bring large new investments into the bitcoin ecosystem by participating in digital currency-focused funds.

Rich went on to cite customer demand as one of the main drivers of Goldman Sachs’ decision. He added:

Many of our customers see digital currencies as a way to deal with inflation, and the huge amount of demand they have received over the past year has certainly played a role in this decision.

Rich went on to say:

Many customers also believe that we are somehow on the verge of a new generation of the Internet. They are looking for ways to participate in this space.

Like many big banks, Goldman Sachs has changed its pessimistic stance on Bitcoin this year, embracing it as an emerging phenomenon. Many central banks, such as the US Federal Reserve, continue to view the digital asset with skepticism and criticism.

Anthony Pompliano, co-founder of the Morgan Creek Digital Institute, predicts that “eventually everyone (banks) will have to offer bitcoin services to all people.”

Bitcoin prices have risen sharply since the recent crash

In recent days, the price of bitcoin has reacted to this news and after falling sharply more than $ 2,000 on Wednesday, it crossed the $ 58,000 mark again.

Goldman Sachs prepares to launch Bitcoin investment products
The sudden fall and rise of the bitcoin price again on Wednesday, April 3rd; Source: tradingview

Digital currency market analysts believe that the issue of bitcoin’s lack of momentum is not a major concern; Because Bitcoin, while having strong fundamentals, needs to address volatile leverage positions in the market before moving toward its historic ceiling.

According to most analysts, the $ 68,000 and $ 73,000 points will be the expected prices for Bitcoin’s next move.


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