America’s global leading investment banking, securities, and investments management giant Goldman Sachs yesterday announced that it will start offering Bitcoin and other digital assets investments to its private wealth management clients in Q2 2020.
Speaking during an interview with CNBC’s Squawk Box, Goldman Sachs’ CEO David Solomon said that bitcoin is a digital asset that is more like gold than a payments network and its valuation will keep on appreciating.
“I do think bitcoin is on an inevitable path to have the same market cap then a higher market cap as gold. It’s just how fast adoption happens. Adoption happening is happening faster than I had predicted.”David Solomon, CEO Goldman Sachs
Goldman Sachs has made history with the announcement and is probably marking its first serious investment in the crypto market. The move will expose Bitcoin and other digital assets to its over 3 million clients and cement Bitcoin’s status as a store of value.