Goldman Sachs Bank resumes Bitcoin and cryptocurrency trading

Goldman Sachs Bank resumes Bitcoin and cryptocurrency trading


Major US banks can no longer ignore BTC and cryptocurrencies, after JPMorgan report recommends placing 1% of its investment portfolio in Bitcoin, Goldman Sachs bank will resume its cryptocurrency trading activities.

Goldman Sachs back in play

With the BTC price which has broken the historic records since last year, the US bank rejoins the game as more and more investment funds and large companies place part of their funds in BTC or other cryptocurrencies, such as Ethereum or Litecoin LTC.

According to Reuters, Goldman Sachs goes a step further and is also exploring the potential of the Bitcoin exchange-traded fund (Bitcoin-ETF) and issued an information request to examine the storage of digital assets.

Like JPMorgan, Goldman Sachs is changing its view when previously the US bank said that cryptocurrencies, including Bitcoin, are not an asset class.

Faced with a tidal wave of institutional investors buying Bitok en masse, Goldman Sachs is returning to trading Bitcoin and cryptocurrencies.

BTC exchange rate which rose to $50,000 after days of declines and correction, allowed the cryptocurrency market to sigh before rebounding.

Cryptocurrency market profits from continuing positive news, Twitter announced it wants to raise $1.25 billion, which some believe will be used to buy Bitcoin .

Car dealerships started accepting payment in crypto

Buying a car and paying in BTC or other cryptocurrency is something that could become commonplace in the future, but is still very rare.

Some dealerships, taking an example from banks and large investment companies, take the initiative to offer payment in BTC for the purchase of a car as a major Canadian auto show has just done Hgreg.

Founded in 1993, the chain has 30 locations in North America, including 21 in Quebec, offering both used and new cars, making it one of the largest car dealerships in North America.

In its announcement, the company indicates that it has already conducted tests beforehand. Hgreg also indicates that the company will retain some of the cryptocurrency that will be received as payment from customers interested in paying in digital currency.

HGreg Chairman John Khairabedian said:

“Our desire to constantly develop and improve the quality of purchases from our customers makes us make bold decisions. One is offering them more payment methods.

Today we are excited to be at the forefront of technology, offering our customers another payment method. We also believe it will be useful to store some of our assets in cryptocurrency.”

HGreg took the opportunity to saddle the bitcoin wave and thus allowed itself a beautiful advertising campaign after its announcement, which was picked up in the media.

Other companies and dealers accept payment in crypt, and this is expected to become mainstream as cryptocurrency acceptance gains momentum.