The multinational investment company Goldman Sachs gave its opinion on Bitcoin (BTC) through the voice of the head of raw materials, Jeff Currie. The latter believes that more investment from institutions will be needed to allow the price of BTC to stabilize.
Bitcoin (BTC) will be stabilized by institutions, according to Goldman Sachs
Jeff Currie shared his opinion in an interview with CNBC . He believes that the market is becoming more mature , and that “ with any emerging market, there is volatility and the risks associated with it“ .
The solution to this, according to Currie, will come from institutional investors, who have already started turning to Bitcoin in 2020:
„The key to create a form of stability in the market é is seeing increased participation of institutional investors . And today, they are still few. “
1% of Bitcoin held by institutions
According to the Goldman Sachs executive, only 1% of Bitcoin’s $ 600 billion capitalization is held by institutional investors. However, things are changing: the past year has seen a wave of institutions adopting Bitcoin, in the face of an economic crisis that is still emerging.
Jeff Currie therefore remains positive about the future of Bitcoin, even if he does not wish to risk a price prediction:
“ Bitcoin’s [capitalization] can give you long-term equilibrium . [But the volatility] makes predictions very complicated. “
However, we note the progression. Last June, Goldman Sachs still considered that “ cryptocurrencies, including Bitcoin, are not suitable as an asset class . Another sign of openness: the bank had mentioned in August the possible creation of a stablecoin . Suffice to say that the venerable institution is starting to change its mind about cryptocurrencies …