Global investment bank Goldman Sachs now considers bitcoin an investable asset. “Clients and beyond are largely treating it as a new asset class, which is notable — it’s not often that we get to witness the emergence of a new asset class,” said Goldman Sachs’ analyst.
Goldman Sachs Now Considers Bitcoin an Investable Asset
Goldman Sachs published a research note on cryptocurrency this week stating that bitcoin has become an investable asset, a reverse of its earlier stance. Mathew McDermott, the bank’s global head of digital assets, wrote:
Bitcoin is now considered an investable asset. It has its own idiosyncratic risk, partly because it’s still relatively new and going through an adoption phase.
“And it doesn’t behave as one would intuitively expect relative to other assets given the analogy to digital gold; to date, it’s tended to be more aligned with risk-on assets,” he continued, elaborating:
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