Goldman Sachs is considering investing in digital currencies


  Bitcoin keeps climbing after quadrupling its price last year (AFP)</p><div><p dir="RTL" style="text-align:right; margin-bottom:13px">US bank Goldman Sachs is considering investing in<a target="_blank" href="" title="" rel="noopener"> Digital currencies</a>, Which is experiencing price booms, especially <a target="_blank" href="" title="" rel="noopener">Bitcoin</a> Which returned to the spotlight strongly, after setting a record near 42 thousand dollars in the first week of January, before retreating slightly to about 38 thousand dollars at the close of trading last Friday.

The New York-based bank issued a request for information from at least one cryptocurrency player at the end of 2020, according to Bloomberg, citing a crypto-tracking website CoinDesk, which indicated that the Goldman initiative Sachs falls within the framework of an extensive digital investment strategy.

Goldman Sachs representatives did not respond to letters requesting comment during the weekend hours, according to Bloomberg. The bank’s potential entry into the digital assets arena will be the latest in a recent widespread drive to bring digital currency into the US banking services basket.

The investment bank JP Morgan said that Bitcoin has emerged as a competitor to gold, and it may trade at high levels of up to 146 thousand dollars, if it establishes its position as a safe investment asset.

This could herald a new dawn for the volatile digital currency, after its circulation for years was restricted to speculators and retail investors. And according to the US investment bank, Bitcoin is likely to overtake gold as millennials become, over time, a more important component of the investment market.

Bitcoin’s price has more than quadrupled in the past year, evoking memories of the 2017 mania that made cryptocurrencies a household name before prices collapsed just as quickly.

Cryptocurrencies have reached a milestone after their market value rose five-fold last year, to exceed a trillion dollars by the current year 2021.

Despite the interest of major investment banks, especially in the United States, in digital currencies, led by bitcoin, many analysts warn of the risks of this investment, because the fluctuation and rapid decline of currencies means the bankruptcy of millions of small investors, especially those who entered the digital currency market late.


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