Goldman Sachs plans to offer its clients to invest in Bitcoin and other digital currencies. They will help manage these digital assets for wealthy people who are interested in cryptocurrencies.
Mary Rich, who will head Goldman Sach’s personal wealth management division, said in an interview with CNBC that Goldman will start offering cryptocurrency to investors in the next three months.
Mei CNN reports, Thursday (01/04/2021), Goldman would announce a new position Rich on Wednesday. It is known from internal company memos shared with CNN.
“In this newly created role, he will work closely with advisors to educate clients about blockchain technology and the digital asset ecosystem, and seek to deliver content, investment offerings and services,” the memo said.
The private wealth management division is for those with a minimum wealth of US $ 25 million to invest. Rich said the bank’s decision was driven by consumer demand.
The price of Bitcoin has skyrocketed, surpassing the US $ 60,000 mark in mid-March. Bitcoin in circulation is worth more than US $ 1 trillion.
“There is a contingent of clients who see this asset as a hedge against inflation, and the macro backdrop over the past year has definitely played a role in that,” Rich said.
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