Goldman Sachs Warned It Will Soon Be Scrambling To ‘Catch Up’ On Bitcoin

Goldman Sachs
GS
, along with other Wall Street giants, has been eyeing bitcoin and cryptocurrency markets this year—and has already taken some big steps into the space.

Those steps follow the bitcoin price, up some 40% so far this year and hovering at a little over $10,000 per bitcoin, finding support through a roller coaster 2020 as a potential hedge against a wave of inflation that some see on the horizon.

Now, after it was announced last month a 20-year Goldman Sachs veteran will be joining merchant bank Galaxy Digital in early 2021, the firm’s founder and chief executive, Michael Novogratz, has warned Goldman will soon be scrambling to catch up with its head start in bitcoin and crypto.

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