An FTX deal that turns into an opportunity for Goldman Sachs? The financial giant would have its eye on crypto companies, and would plan 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 now usual: as the bear market took hold, commentators from all sides predicted the end of Bitcoin (BTC) and cryptocurrencies. But this does not seem to have particularly disturbed Goldman Sachs, which intends to take advantage of the gloomy atmosphere to do some shopping. According to a Reuters report, the institution would have set aside several tens of millions of dollars for this purpose.
Goldman Sachs Head of Digital Assets, Mathew McDermott, confirmed a few days ago:
“We indeed observe very interesting opportunitiesat a much more reasonable price.»
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“High-performance” technology
According to McDermott, the technology that underpins the crypto ecosystem “continue to perform». It is a sign of confidence on the part of the giant Goldman Sachs, even if we recall that the sum committed is not delusional either, given the 21.6 billion dollars garnered by the institution last year.
The head of digital assets at Goldman Sachs also notes that a certain exodus of FTX users was observed:
“What has increased is the number of financial institutions that have wished to transact with us. I suspect a number of them were doing this with FTX, but I can’t say for sure.»
Still, Goldman Sachs reiterates its interest in the sector. A year ago, the institution even showed itself particularly bullish on Bitcoin (BTC), judging that its price could reach 100,000 dollars in the next five years. Is this still the case ?
👉 Read also – Coinbase takes out a loan secured by Bitcoin (BTC) from Goldman Sachs
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Source: Reuters
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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