The world’s second largest investment bank Goldman SachsIn his annual shareholder letter, he talked about crypto coins for the first time. In a shareholder letter of 2024, the Bank said that crypto currency and blockchain technologies increase the competition in the financial sector. The Wall Street giant, which has never included these terms in the shareholder letter by 2017, has attracted attention with its changing approach to crypto currencies in recent years. Bitcoin $83,921.55The rise of the US administration has increased Wall Street’s interest in crypto currencies.
Goldman Sachs opened the door to crypto coins
Goldman Sachs, in 2021 crypto currency With the opening of a purchase-sale table and the realization of the Digital Asset Platform in 2022, it had already opened its door to crypto currencies. In the last three years, the Blockchain -based communication system has been one of the few banks that tested Canton Network. These moves are valuable that traditional financial institutions show that their interest in crypto currency and blockchain technology has increased.
In a 2024 shareholder letter, the bank drew attention to the competition brought about by new technologies on the market. In the letter, “Some of our competitors can provide financial products that our customers may prefer but we do not offer. This includes crypto currencies ”.
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In the letter, crypto currency and Blockchain He also emphasized the risks of technology. “Crypto coins and similar technologies are growing, but still at the early stage. Therefore, it may be vulnerable to cyber attacks ”. In addition, Goldman Sachs’ın customer transactions to be included in the crypto currency market is also carries risks.
Is the bank’s approach to Bitcoin changing?
Goldman Sachs CEO David SolomonIn view that blockchain technology can reduce friction in the financial sector. However, Solomon argues that Bitcoin is a “speculative investment .. In a statement he made last year, he said, orum I don’t see a real usage area for the biggest crypto currency. However, he also agreed that Bitcoin could be a value -storage tool. Moreover, in December 2024, if the regulatory environment in the USA changed, Bitcoin and Ethereum as a bank 
$1,929.24‘announced that they would evaluate investing.
In the last quarter of 2024, Goldman Sachs came up with making significant investments in two major Bitcoin ETFs. The Bank increased the number of shares of Blackrock by investing $ 1.27 billion in IBIT funds by 88 percent. In addition, Fidelity’s FBTC fund increased by 105 percent, increasing the investment of 288 million dollars.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
