Earlier this week Goldman Sachs Group (NYSE:GS) announced plans to offer investments in Bitcoin and other digital assets to its wealth management clients from Q-2 forward, the latest Top-tier company to move into the cryptocurrency space.
Firms including Tesla Inc, BNY Mellon Corp, PayPal and Square Inc also have recently announced they are betting on Bitcoin, as the wider adoption of the cryptocurrency for settling transactions and investments gathers pace.
The move by ‘Goldie’ comes days after a report that rival Morgan Stanley (NYSE:MS) had started offering clients investments to the emerging asset class. And will offer investments in Bitcoin and digital assets including the physical Bitcoin, derivatives or traditional investment vehicles.
Earlier this month Goldman restarted its cryptocurrency trading desk and is exploring possibilities for a Bitcoin ETF.
Editors Note: Tesla CEO Elon Musk Tesla revealed in February that it had bought $1.5-B of Bitcoin, helping drive the cryptocurrency to record highs marking $1-T in market capitalization for the 1st time.
Have a healthy, happy holiday weekend, Keep the Faith!