Home » News » Goldman Sachs Reportedly Assesses Bitcoin in Document to Customers

Goldman Sachs Reportedly Assesses Bitcoin in Document to Customers

  • 2 min read
  • Latest
Spread the love

Bitcoin Small Logo Multinational investment banking outfit Goldman Sachs has reportedly released a document by having an early assessment of bitcoin — a reponse to requests from their clients. This is according to tech blog  TechCrunch, who notes that the document was “ acquired through a source close to the bank”.

The document apparently states that “ 2013 was the year when Bitcoin became a mainstay in mass media, to the extent it has become hard to separate the effect of hype surrounding the currency from its fundamentals. ”

It bands true. Bitcoin caught the attention of the mainstream media 1st in April 2013, when the price exceeded $200 for each unit. A second, more enduring round of media hype and attention occurred once the price per bitcoin surpassed $1200 at the Mt. Gox exchange in November.


On the topic of using bitcoin as an investment automobile, the firm outlines that certain can either speculate on the cost (which if you weren’t already aware is responsible for price volatility), mine bitcoin themselves, or provide value-add services towards the bitcoin community for a charge.

“ As a full suite of financial services build up around Bitcoin, there will be numerous (mostly commission- based) revenue opportunities investors can focus on, including providing exchanges, wallets, payment processing, lending, derivatives and other services, ” they say.

Goldman Sachs isn’t entirely self-confident on the topic of adopting of bitcoin, saying that “ despite media coverage plus current trading levels, bitcoin remains orders of magnitude away from widespread adoption. ”


Looking at bitcoin in the long run, Goldman says that “ We are currently in the very first innings of a shift to natively digital transactions, ” which hardly anyone within the bitcoin community would disagree with, certainly.

“ Bitcoin may come out as the reigning standard, or even others may compete for your crown, ” the company says.

Check out TechCrunch’s piece on the matter  (no full report available, so far as we’re aware — just tidbits). What do you make of it?