After well-known US companies like Tesla, Paypal and Mastercard are betting on bitcoin, the investment bank Goldman Sachs is also getting involved. According to Reuters, the US company will start actively trading the coveted cryptocurrency next week.
According to statements made by an insider to Reuters Goldman Sachs will restart trading in bitcoin futures from next week. In addition, the bank is also exploring the potential for an exchange-traded bitcoin fund, the source said.
The relaunch of the trading division comes in the middle of growing interest in Bitcoin by institutions as it has risen by more than 470 percent in the past year. The largest cryptocurrency is seen by investors and some companies as a hedge against inflation.
Meanwhile, the market infrastructure for Bitcoin and other major cryptocurrencies has matured significantly. Some established financial institutions, including CME Group, Intercontinental Exchange and Fidelity, offer crypto-related products and services. This development has attracted more retail and institutional investors to the sector.
More and more investors want to participate in the boom in Bitcoin and Co. The resumption of trading by Goldman should bring additional attention to bitcoin. Bitcoin is already showing its strong side again today and could start a new rebound.
The newspaper article was published by Der Aktionar, a german stock market magazine
