Multinational investment bank Goldman Sachs has announced that it will resume trading Bitcoin futures for its clients starting next week.
According to Reuters, this move by Goldman Sachs is part of its activities in the rapidly growing digital assets sector and includes many projects including blockchain technology and central bank digital currencies.
The source of the news is that the banking giant is currently also exploring an exchange-traded fund at its Bitcoin headquarters and is looking to enter the cryptocurrency custody service business. Goldman Sachs’ initiative is thought to have come behind the scenes with an influx of individual investors as well as a growing interest in Bitcoin. Bitcoin and cryptocurrencies are seen by people as a shield against inflation, as the leading cryptocurrency, investors and some companies, as governments and central banks open up as their stimulus packages increase and the market tumbles.
This makes crypto and related derivatives comfortable for returns in a record low interest rate environment, while futures (leveraged) offers a very attractive environment for investors willing to take riskier long or short positions.
While the total crypto money cake, which has grown by 500 percent since last year, continues to be the focus of attention, Bitcoin broke the all-time record, rising to $ 58 thousand and then falling to $ 45 thousand with a sharp decline. BTC is trading at $ 49 thousand at the time of writing this news.