Goldman Sachs wants your precious Bitcoin in exchange for green pieces of paper (dollars)


Digital gold versus US IOU? – Just over a month after launching its offer of OTC (over-the-counter) transactions on Bitcointhe mega-bank Goldman Sachs continues its new love affair with cryptocurrency. Now, the multinational banking company does not hesitate for a second to to lend large amounts of dollars, if the guarantee is in bitcoins ringing and stumbling.

Goldman Sachs finds it ‘interesting’ to lend money fiat against bitcoin

One of the largest banks in the world, Goldman Sachs Group Inc.has just offered its very first bitcoin backed loan. As revealed in a recent publication by Bloomberg, the international bank is open to providing dollars to one of its clients, in return for the guarantee BTC belonging to the latter.

The rumors on the subjectdating from December 2021, were therefore foundedand Goldman Sachs bankers have obviously overcome the last reluctance that they still had at the time. A spokeswoman for the major bank reportedly said that the current Bitcoin-backed loan transaction was additional “particularly interesting” for the establishment.

Would Goldman Sachs have enjoyed the taste of juicy crypto-bound returns? Anyway, even if it’s a first for a traditional bank of this size, other crypto-related banks had already paved the way. From March 2021, the Silvergate Bank loaned $205 million to MicroStrategyso that the company Michael Saylor can always buy more bitcoins… by pledging the bitcoins already in his possession for the loan!

It is not for nothing that investment funds, banks and asset managers go to war to recruit specialists in cryptocurrencies and blockchains. The most recent poaching/recruitment concerns the transfer of a crypto expert from JP Morgan bank to Apollo Global Managementa fund managing $450 billion in assets.

If Goldman Sachs is ready to exchange your bitcoins for dollars, it might be time to get into it too. In this case, go sign up on AscendEX and enjoy 10% reduction on trading fees (affiliate link, see conditions on site)



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