An FTX deal turning into an opportunity for Goldman Sachs? The financial giant will be looking at crypto companies, and plans to spend tens of millions of dollars to buy some of them. A sign that the ecosystem continues to interest traditional finance.
Goldman Sachs plans to buy crypto businesses
It is usual: as the bear market takes hold, commentators from all sides are predicting the end of Bitcoin (BTC) and cryptocurrencies. But it doesn’t seem to have particularly disturbed Goldman Sachs, which is looking to take advantage of the gloomy atmosphere to buy. According to a Reuters report, the institution would have spent several tens of millions of dollars for this purpose.
Goldman Sachs Head of Digital Assets, Mathew McDermott, confirmed a few days ago:
“We really observed very interesting opportunitiesat a more reasonable price.»
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“High performance” technology
According to McDermott, the technology behind the crypto ecosystem “keep doing». This is a sign of confidence on the part of the giant Goldman Sachs, even if we remember that the amount generated is also not delusional, given the 21.6 billion dollars earned by the institution last year.
The head of digital assets at Goldman Sachs also took note that an exodus of FTX users observed:
“What has increased is the number of financial institutions that want to transact with us. I suspect quite a few of them do this with FTX, but I can’t say for sure.»
However, Goldman Sachs reiterated its interest in the sector. A year ago, the institution still showed itself particularly strong in Bitcoin (BTC), judging that its price may reach 100,000 dollars in the next five years. Is this still the case?
👉 Also read – Coinbase takes a loan secured by Bitcoin (BTC) from Goldman Sachs
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