Topic: [2017-08-11] Goldman Sachs: Cryptocurrencies Getting ‘Harder to Ignore’ (Read 5244 times)
August 12, 2017, 02:20:41 PM
Definitely, they could not anymore ignore Bitcoin because their clients are also demanding to have a part in the burgeoning Bitcoin marketplace. They all want to have a share of the profits, don't they? Well, all of us are motivated by profits...who does not want more money? Traditional investment tools are not at par with the immense growth of Bitcoin even just for this year alone. And it is growing so fast right now it can be dizzying...
August 11, 2017, 04:58:04 PM
It doesn't matter who it is, one shouldn't look at the global crypto market cap in order to find out that crypto currencies can't be ignored. Instead, look at their genuine demand, usage, and why exactly crypto in general is so boiling hot. Regular people, investors, at some point institutions as well, they all look to take a sizeable position into crypto. Mainly because of the fact that this industry can offer long term growth - growth that the traditional assets don't seem to be able to offer, or at least, by far not in the same quantities. Regarding ICO's, I am a large supporter of this part of the market being in dire need of proper regulations. If nothing happens, this ICO hype/craze will end up in a scammers feast (more than it is right now).
August 11, 2017, 12:19:20 PM
Mainstream financial institutions such as Goldman Sachs are finally beginning to realize what forward-thinking venture capitalists have known for years: investors need to pay attention to the cryptocurrency ecosystem.
A few months ago, Goldman’s hedge fund clients asked the bank to begin providing analysis on bitcoin investments. In July, chief technical analyst Sheba Jafari accurately predicted that the bitcoin price would pull back to about $1,850 before setting a new record during its current wave; she forecasts it could extend as far as $3,915 before the wave is over.
Now, Goldman Sachs is counseling institutional investors to give cryptocurrency a closer look. In a note distributed this week, Goldman analyst Robert D. Boroujerdi advised portfolio managers that with the total cryptocurrency market cap reaching record levels, investments in this space are getting harder to ignore:
"With the total value nearly $120 billion, it’s getting harder for institutional investors to ignore cryptocurrencies."
The Goldman Sachs team notes that initial coin offering investments–which are approaching $2 billion in 2017 alone–have exceeded angel and seed funding during the past few months.”
Mainstream financiers have begun to view ICOs as digital gold mines and have abandoned lucrative posts to stake their claims. Boroujerdi says that whether or not one believes cryptocurrencies have merit, “real dollars are at work” in the cryptocurrency space and warrant attention from investors.
"Whether or not you believe in the merit of investing in cryptocurrencies (you know who you are) real dollars are at work here and warrant watching especially in light of the growing world of initial coin offerings (ICOs) and fundraising that now exceeds Internet Angel and Seed investing."
One hurdle institutional investors must overcome is the uncertain regulatory environment. Until recently, ICOs have been largely unregulated. The U.S. Securities and Exchange Commission (SEC) recently issued a ruling suggesting that some ICO tokens are “securities” and thus subject to federal securities laws. It is unclear how soon and to what extent the SEC will begin enforcing securities laws, but Adam Draper of Boost VC advised developers to avoid using language like “DAO” and “ICO” because the use of such terms virtually guarantees attention from the SEC.
Other nations are beginning to view ICOs more closely as well. An advisor to the Chinese national bank recently said that ICOs need moderate regulation. Just last week, the Monetary Authority of Singapore (MAS) announced it would begin regulating token distributions.
https://www.cryptocoinsnews.com/goldman-sachs-cryptocurrencies-getting-harder-to-ignore/
A few months ago, Goldman’s hedge fund clients asked the bank to begin providing analysis on bitcoin investments. In July, chief technical analyst Sheba Jafari accurately predicted that the bitcoin price would pull back to about $1,850 before setting a new record during its current wave; she forecasts it could extend as far as $3,915 before the wave is over.
Now, Goldman Sachs is counseling institutional investors to give cryptocurrency a closer look. In a note distributed this week, Goldman analyst Robert D. Boroujerdi advised portfolio managers that with the total cryptocurrency market cap reaching record levels, investments in this space are getting harder to ignore:
"With the total value nearly $120 billion, it’s getting harder for institutional investors to ignore cryptocurrencies."
The Goldman Sachs team notes that initial coin offering investments–which are approaching $2 billion in 2017 alone–have exceeded angel and seed funding during the past few months.”
Mainstream financiers have begun to view ICOs as digital gold mines and have abandoned lucrative posts to stake their claims. Boroujerdi says that whether or not one believes cryptocurrencies have merit, “real dollars are at work” in the cryptocurrency space and warrant attention from investors.
"Whether or not you believe in the merit of investing in cryptocurrencies (you know who you are) real dollars are at work here and warrant watching especially in light of the growing world of initial coin offerings (ICOs) and fundraising that now exceeds Internet Angel and Seed investing."
One hurdle institutional investors must overcome is the uncertain regulatory environment. Until recently, ICOs have been largely unregulated. The U.S. Securities and Exchange Commission (SEC) recently issued a ruling suggesting that some ICO tokens are “securities” and thus subject to federal securities laws. It is unclear how soon and to what extent the SEC will begin enforcing securities laws, but Adam Draper of Boost VC advised developers to avoid using language like “DAO” and “ICO” because the use of such terms virtually guarantees attention from the SEC.
Other nations are beginning to view ICOs more closely as well. An advisor to the Chinese national bank recently said that ICOs need moderate regulation. Just last week, the Monetary Authority of Singapore (MAS) announced it would begin regulating token distributions.
https://www.cryptocoinsnews.com/goldman-sachs-cryptocurrencies-getting-harder-to-ignore/
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