Growing demand for Bitcoin from Goldman Sachs clients, COO says
In a recent interview with Reuters, John Waldron said that Goldman Sachs will “continue to evaluate” and “engage on” crypto for customers. Waldron, who is the chief operating officer at the firm, revealed that Goldman’s decision to restart its cryptocurrency trading desk has been met with increasing demand from customers looking to buy Bitcoin.
He pointed to the global COVID-19 pandemic as one of the accelerant fueling the recent crypto craze. On the part of the U.S. banking giant, they are already in discussions with regulators and central banks across the globe on how to approach digital assets. Waldron said:
The pandemic has been a significant accelerant. There is no question in our mind there will be more digital commerce … and [use of] digital money... We are regulated on what we can do. We continue to evaluate it ... and engage on it.
Although the move may be considered another win for Bitcoin, some players in the crypto space are skeptical, viewing the move as a bearish indicator.
For clarity, after Goldman set up a crypto trading desk at the heat of the Bull Run in 2017, the price of Bitcoin plunged significantly.