Banking powerhouse Goldman Sachs posted a report on a survey about the perspective of their client on cryptocurrency. Earlier this week, the banking giant announced to restart their crypto trading desk after keeping low since the 2018 market-crash.
The survey was conducted according to the response of 280+ participants. The respondents are mostly from hedge funds and asset managers. which account for most of the surveyed firms, banks, wealth funds, and so on.
According to the survey by Goldman Sachs, as reported by Forbes, a huge preponderance of the clients are highly confident about the increase of the digital assets within a year.
61% of the surveyed clients (that means every 3 out of 5) are confident about digital assets to grow within the next 1 year where 40% have already exposure to cryptocurrency.
The survey also illustrates that 57% of the clients consider “institutional investing” to boost the streak of cryptocurrencies. Furthermore, 32% of the respondents are eager in prime brokerage to begin their crypto-journey.
22% of the respondents expect the price of bitcoin should cross $100,000 in the next 1 year whereas more than 50% predict the price of cryptocurrency to remain stable in the $40,000-$100,000 range.
To have a glance at “the coin of interest”, it goes without saying that bitcoin ranked the top. Other than that, 29% are interested in Ethereum whereas 13% choose stable coins, attached to external assets like US dollars, to avoid volatility.
“The regulations and mandate permissions are the biggest barrier against starting investment to digital assets” – is believed by more than one-third of the respondents.
This report is published after roughly half-week as Goldman Sachs decided to reopen its crypto trading desk and took several initiatives for the implementation.