Oct 18, · Now, after the bitcoin and cryptocurrency community was set alight by a bold $1 trillion market cap prediction from a major Tesla TSLA +6% investor last month, a former Goldman Sachs GS . Nov 29, · In a recent interview, Hong Fang, who is a former VP at Goldman Sachs and the current CEO of crypto exchange OKCoin, explained why she believes that the price of Bitcoin could reach $, by and $, by On 30 August , San Francisco headquartered OKCoin, which was founded in , announced that the addition of Fang, who was an early investor in Author: Siamak Masnavi. Dec 11, · Ex-Goldman Sachs exec: Ethereum could surpass Bitcoin’s market cap in 10 years CryptoSlate market data indicates that Bitcoin has a market capitalization of $ billion while Ethereum has a market capitalization of closer to $62 billion. But, a leading Wall Street veteran working in the space recently postulated that this may change in.
Bitcoin market cap vs goldman sachsEx-Goldman Sachs exec: Ethereum could surpass Bitcoin's market cap in 10 years | CryptoSlate
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You might also enjoy Sign up for a Crypto. Similar comparisons have been made previously by bank executives — most notably J. Goldman played down the idea that bitcoin is a "scarce resource," noting that some of the most valuable coins — bitcoin cash and bitcoin SV — are "forks.
Bitcoin bulls often claim the digital asset's limited supply is part of what underpins its value and makes it a potential "hedge" against currencies which are vulnerable to devaluation in times of economic crisis.
The bank also called cryptocurrencies a "conduit for illicit activity," highlighting their use in fraudulent schemes and money laundering. Fidelity last year set up a separate unit devoted to cryptocurrency clearing and custody, while J. Morgan developed its own internal digital currency, " JPM Coin ," for payments.
By considering it unviable for its investors, Goldman Sachs has risked causing its investors to miss out on one of the best performing asset classes in the past years, never mind the last Correction: This story has been amended to reflect the fact that the presentation was written by Goldman Sachs' Investment Strategy Group.
Skip Navigation. Markets Pre-Markets U. Key Points. Crypto enthusiasts had eagerly anticipated the Goldman call, with some assuming it might lay out a case for investing in bitcoin. Industry figures like the Winklevoss twins quickly took to Twitter to criticize the investment bank's claims.