By Hassan Mehmood (Saudi Arabia)
After long years of depreciating the idea of decentralization and cryptocurrency, Goldman Sachs became the first-ever bank to offer its clients Bitcoin-oriented payments. This was a while ago when Bitcoin did flourish as a cryptocurrency and managed to score multiple all-time highs in a matter of months. In reports that followed, Goldman Sachs also said that this new crypto venture of theirs has been going great; the demand of the customers for more opportunities like this is already booming.
Goldman Sachs Become an Interested Financial Giant in Selling Bitcoin
Despite the fact that Bitcoin lost a fair share of its value in the recent crypto crash of mid-May, the industrial adoption for it is rising fiercer than ever. In partnership with another bank known as Galaxy Digital, Goldman Sachs has announced the Bitcoin futures trading solutions to their able customers. Galaxy Digital would be in charge of managing the liquidity to Goldman Sachs; the liquidity parties will first buy a huge sum of an asset before reselling it again to the interested parties. This means one great thing for Goldman Sachs clients: they will always be able to buy Bitcoin no matter how scarce the asset is in the crypto market in the following days.
Also read:This is a huge thing both for the crypto market and Bitcoin enthusiasts in general as they have been waiting for this level of enterprise adoption for Bitcoin, and now it is finally happening. The real purpose of the bank for teaming up with the liquidity firm is to fulfil a potential market section for their clients. If Goldman Sachs doesn’t offer Bitcoin to its clients, then they will purchase it elsewhere because they are well spent on the idea of cryptocurrency, so taking it as an opportunity, Goldman Sachs has decided to offer Bitcoin support to its clients. This might seem like a bold move, but other financial institutions are also going to chime into the idea sooner than later, although Goldman Sachs has become the first bank to ever offer Bitcoin trading.
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