Investment banking giant Goldman Sachs has posted the results of a survey that suggests investors are bullish on bitcoin and other digital assets.

As first reported by The Block, the firm surveyed 280 clients on the topic and found that 40% had exposure to the market, while 60% revealed they expect their holdings to increase over the next 12 to 24 months.

22% of respondents revealed they expected bitcoin to trade above $100,000 within the next 12 months, while 35% said they believe spot pricing and volume data would be best to evaluate a potential investment in cryptocurrencies.

The survey, shared by Goldman Sachs’ Max Milton, also shows that 28% said bitcoin’s recent price rise could be attributed to a broader investment thesis, while 57% said positive news and institutional investing were behind it.



The survey comes at a time in which the firm has “restarted its cryptocurrency trading desk and will begin dealing bitcoin futures and non-deliverable forwards for clients from next week.” Goldman is also reportedly exploring the potential for a bitcoin exchange-traded fund, and “issued a request for information to explore digital asset custody.”

As CryptoGlobe reported, last month the oldest bank of the United States, Bank of New York Mellon (NYSE: BK), has revealed it will start financing bitcoin and other digital currencies through the rollout of a new cryptocurrency custody service.

The bank will start allowing cryptocurrencies to pass through the same financial network it is currently using for traditional holdings like U.S. Treasury bonds and equities. The move came after months of analysis of its prototype digital asset framework, and a blog post from 2019 shows BNY Mellon has been eyeing crypto custody for at least two years.

Featured image via Pixabay.

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