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22% of Goldman Sachs Clients Expect Bitcoin to Hit $100K

22 of Goldman Sachs Clients Expect Bitcoin to Hit $100K
  • The New York-based firm surveyed 280 respondents on their perspective, exposure, and outlook of digital assets.
  • 54% of the respondents predict the price of bitcoin to trade between $40,000 to $100,000 in the next 12 months.
  • 22% believe that bitcoin will trade above $100,000 within the same period.

Goldman Sachs surveyed 280 clients on the topic of digital assets. Max Milton from this New York-based firm shared the results on Thursday with 40% of the respondents exposed to cryptocurrencies.

The survey shows that 22% of respondents expect bitcoin to trade above $100,000 within the next 12 months. On the other hand, over 60% responded that they expect their digital asset to increase for the next 1 to 2 years.

Goldman Sachs also revealed that 54% of the respondents predict the price of the cryptocurrency to hover between $40,000 to $100,000 in the same period.

Meanwhile, bitcoin’s trading desk operation is set to reignite again this mid-March. It will not be trading bitcoin itself in the beginning but it is trading derivatives tied to the asset.

Goldman Sachs is setting this cryptocurrency trading desk after backing away from their past effort to enter the market when bitcoin crashed in 2018.

This desk will be a part of Goldman’s Global Markets segment. In addition to that, it is actually the bank’s largest division in terms of assets and revenue at the end of last year.

It serves as a market-maker, buying and selling securities on behalf of clients but not actively managing cryptocurrencies itself.

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