A month back long Bitcoin was the most crowded trade on the planet. So, we can see why banks and other organizations want to provide Bitcoin Futures trading options. Just recently, Goldman Sachs has partnered up with the firm Galaxy digital to offer the same. The partnership is one of the first among a big American bank and a crypto asset company. Maybe this will be followed by a string of more partnerships in the future.
Goldman Sachs Bitcoin Futures trading options
Goldman Sachs has over $2.1 trillion assets under management and them making future trading available for Bitcoin is big. Other banks might also join in because of the fear of missing out says Vanderwilt. Clients have already been asking for the option to every bank and if they don’t listen either they will lose clients or make less money. Now you might be wondering why did Goldman partner with Galaxy digital to offer the services. Well, it is because under regulatory laws they are not allowed to deal with crypto directly.
One thing that I liked about Goldman Sachs is that they made it clear that the asset has been added on client demand. This was said by the head of digital assets of the firm. He also added that they want their clients to be able to trade the best assets and crypto is one of them in 2021. And since they were able to find a reliable partner to help them do that, it all good.
Bitcoin is just getting started
I always say that investing in Bitcoin seems to be a good idea to me. This is because the asset hasn’t even been recognized yet completely and it’s doing so great. People talk that it is volatile but that volatility has been continuously decreasing as more institutions join in on the game. Elon talked about energy consumption related to Bitcoin but he didn’t mention that gold mining, banks, and the military consume considerable more amount. And even if we don’t compare that, the transition to renewable energy sources is happening.
Analysis suggests that the market is extremely oversold and the strong hands are continuously accumulating. The price can explode anytime now. We should understand that Bitcoin is limited in number and there could come a time that even if you want you couldn’t buy some. Very soon we might see the era of Bitcoin it is just knocking at the door right now.
What are your thoughts on Goldman Sachs adding Bitcoin Futures trading options? And do you think that Bitcoin is going to explode? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.
Also Read: Safemoon CEO makes peace with Dogecoin